Shallow-Water Drilling Permits Rescinded

Friday, June 04, 2010

According to a June 4 report from The Wall Street Journal, federal regulators rescinded drilling permits issued on June 2 to companies for new oil and gas wells in the Gulf of Mexico, prompting market confusion and a spike in oil prices. An administration spokeswoman said the government had told companies seeking permits to drill in shallow water to wait "a day or two" until regulators issued guidelines for new permit requirements for shallow-water drilling projects. Offshore drilling in water less than 500 ft deep wasn't being banned, the spokeswoman said. The government had earlier issued a six-month moratorium on deepwater drilling. Oil prices rose Thursday, June 3, over worries that a wider government ban would result in tighter supplies. The oil and gas industry had won a victory last week when the Obama administration said new shallow-water drilling would be allowed, provided companies meet certain safety and environmental standards.

(Source: Wall Street Journal)

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

Zamakona Delivers Second Vessel to Jadran

On October 18, Zamakona Yards celebrated in Getxo, Bizkaia the delivery of tuna freezer vessel Ljubica to the owner group Jadran based in Ecuador and Panamá. The

INTERTANKO Welcomes IMO Bunker Decision

The International Maritime Organization (IMO) has agreed to consider introducing measures to improve controls of bunkers delivered to ships. After six submissions to the IMO over four years,

Gulf Craft to Invest $100m in Dubai Shipyard

Company plans to invest $100 million over the next five years in the development of a new shipyard in Dubai Maritime City to build a global luxury yachts manufacturing

 
 
Maritime Contracts Maritime Security Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1322 sec (8 req/sec)