On Aug. 27, 14,585 offshore tracts spanning 77.8 million acres in the Gulf of Mexico will be offered by the federal government at an oil and gas lease sale. The blocks are situated in waters as little as nine feet deep to up to over two miles deep.
A unit of Baker Hughes, a General Electric oil-servicing subsidiary, will be sold to private equity firm Arcline Investment Management. Arcline is purchasing Baker Hughes' reciprocating comprehension division, in which it intends to "aggressively invest."
Though the oil refining industry has rebounded some, some experts believe a new product surplus is likely for the second half of 2019 and first portion of 2020. Key factors include a dip in global manufacturing activity.
Halliburton has been working on new 3D drilling technology that it says improves how geologists' analysis of a formation as drilling occurs. The process will simultaneously illustrate underground structures and formations.
Changing the original plan for the North Sea Wind Power Hub to use eight smaller islands to site wind turbines is "both technically feasible and economically feasible," says Michael Muller of Dutch energy firm TenneT. A European consortium had originally considered using one large artificial island.
Hawaiian Electric filed a motion with the state's Public Utilities Commission to open bidding for a second phase of renewable energy projects that would come online starting in 2022. "We needed even more projects in the pipeline," said Jim Kelly, Hawaiian Electric spokesperson.
Public Service Company of Oklahoma wants to add 675 megawatts of wind power to bolster its wind output, which currently amounts to about a fifth of its total production. The proposal would result in the PSO owning 45.5% in three in-state wind facilities.
Vineyard Wind has notified the US Bureau of Ocean Energy Management that an environmental impact statement needs to be issued in six weeks at the latest or "it would be very challenging to move forward the Vineyard Wind 1 project in its current configuration." The company plans to have the over 80-turbine wind farm ready by 2022.
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