(Oil Price) – The United States and Canada are expected to announce they have agreed to begin negotiations over overlapping territorial claims in the Arctic, an area that has drawn increased interest from China and Russia, Bloomberg reported on Tuesday, citing an anonymous source with knowledge of the matter. The United States and Canada are disputing the Arctic seabed in
CNBC The Biden administration on Monday reversed a Trump administration plan that would have allowed the government to lease more than two-thirds of the country’s largest swath of public land to oil and gas drilling. The Bureau of Land Management’s decision will shrink the amount of land available for lease in the National Petroleum Reserve in Alaska, a roughly 23 million acre
CNBC A new cold front could open up in the political tension between the European Union and Russia over energy. This time in the Arctic. On Wednesday, the EU put forward proposals that could see it pushing to ban the tapping of new oil, coal and gas deposits in the Arctic in an effort, it said, to protect the
From Bloomberg Almost 1,500 miles from Moscow, the tiny port of Sabetta nestles in a desolate Russian Arctic peninsula. A former outpost for Soviet geologists, it’s now the site of Russia’s most ambitious liquefied natural gas project, operated by a company that only entered the market just over a year ago. Several times a week, a giant tanker leaves this remote
Labour Party of Norway Commits to Permanently Banning Oil Exploration in Norwegian Arctic
From Reuters There will be no seismic exploration this winter on the coastal plain of the Arctic National Wildlife Refuge, the Interior Department said on Friday, after the company seeking permission to conduct the tests ran out of time to get the required permit. “We can confirm that seismic surveys will not take place until December 2019,” said Alex Hinson,
LNG shippers are taking advantage of open waters as ice caps stage one of their largest retreats on record From Bloomberg A new trade route for energy supplies is opening up north of the Arctic Circle as some of the warmest temperatures on record shrink ice caps that used to lock ships out of the area. This year is likely to
White House Issues Memorandum Withdrawing Bulk of Alaska’s Arctic OCS and Portions of Atlantic OCS from Oil and Gas Drilling Today the White House pulled the plug on offshore drilling leases in the bulk of the Arctic offshore Alaska and portions of the Atlantic outer continental shelf (OCS). “The United States is designating the vast majority of U.S. waters in
Decision to leave the Alaskan Arctic a combination of factors Royal Dutch Shell (ticker: RDSA) announced today that it plans to put an end to its operation offshore Alaska, according to a company press release. The news came following results from the company’s Burger J exploration well, which was drilled to a total depth of 6,800 feet. While the company
Shell exec has eyes set to the North Royal Dutch Shell (ticker: RDSA) is preparing to return to the Arctic and begin exploring for the first time since 2012, according to Chief Financial Officer Simon Henry. Henry said the oil major is preparing “an armada of 25 vessels” to begin a two-year program to explore two to three wells in
A report filed by the National Petroleum Council encourages the U.S. to develop Arctic energy reserves The National Petroleum Council (NPC) recently concluded a study at the behest of the United States’ Department of Energy about potentially tapping oil and gas reserves in the Arctic. The NPC’s report encourages developing Arctic assets in the very near future in order to
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