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What a difference a year makes….or does it? Certainly activity in the Gulf of Mexico remains slow following the Macondo disaster. But it is moving again. And, despite all the talk about how the US risked driving away the industry by tightening up processes and procedures, just about everyone is still here.
The oil and gas industry has been afraid there might be repercussions from the recent investigation that found Macondo’s blowout preventer failed to close because a section of drill pipe had buckled during the accident and blocked efforts to seal it off. Read more
As the big guns of the oil industry gather in London this week for International Petroleum week, talk has been largely of two things: the effect of Middle East unrest on the oil price and how to improve its reputation, especially after Macondo. Read more
In the last two days, we have had two new and similar accounts of the way in which BP’s corporate culture was to blame for the Gulf oil spill. Read more
Now we’ve all had a day to digest the 300+ pages of the National Commission’s report into the BP oil spill, it’s worth taking a look at what the reaction has been from the wise old heads of the print and online media. Read more
This may be merely coincidence, but it seems unlikely.
The best performing sector on the benchmark US share index, the S&P 500, is currently energy. Of that sector, it is the oil services companies that are doing best – the ones who might have been hit heaviest had stringent new regulations hampered the way they were able to run rigs. Read more
The US oil and gas industry feels slighted by the fact that the presidential oil commission’s report raises questions about the safety of deepwater drilling generally. Read more
As we saw from Ed’s list of the main recommendations from the National Commission into the BP oil spill, they were pretty much what we were expecting from the overnight reports. But a few interesting pieces of information arose from the press conference. Read more