Archive for the ‘Royal Dutch Shell’ Category
WASHINGTON, DC — The U.S. Government approved on Wednesday, May 11, a Royal Dutch Shell PLC plan to drill for oil in five locations deep under the Gulf of Mexico.
Over objections from environmental groups, the Shell plan is the second deep-water exploration plan approved in the Gulf since the government lifted a moratorium on deep-water drilling last October following the BP oil spill. At least six other plans for deep-water exploration in the Gulf are pending. ... Read More
The Gulf oil spill ban, which was lifted several months ago by the Obama administration, continues to hurt big oil companies such as Chevron Corp. and Royal Dutch Shell PLC. These companies have billions of dollars tied up in Gulf projects that are on hold and are paying hundreds of thousands of dollars a day for rigs that aren’t allowed to drill. Smaller operators such as ATP Oil & Gas Corp., which have less flexibility to focus on projects in other regions, have been even harder hit.
The Obama administration says it is simply trying to enforce new safety rules adopted in the wake of the April 20 explosion of the Deepwater Horizon drilling rig, which killed 11 workers on April 20, 2010 and set off the worst offshore oil spill in U.S. history. Environmental groups say the administration is right to take its time because the Gulf disaster exposed the risks of offshore drilling. ... Read More