Articles Tagged "Offshore Drilling"

Providence Resources Aims to Drill for Oil Near Bono’s Home

Forbes reported that Providence Resources plc (LSE:PVR), led by CEO Tony O'Reilly, Junior, hopes to drill for oil 4 miles off the coast of Ireland. The company is already facing environmental opposition, with some also wondering whether celebrities like Bono — who lives nearby the proposed drilling location — will also be against the endeavour.

Long-Term Ban for Chevron after Brazil Oil Spill Unlikely, say Industry Experts

Although Chevron was fined $28 million and had its drilling rights in Brazil suspended for the recent offshore oil spill at their Frade field, some industry experts suggest the company will be able to avoid a long-term ban.

Giant Exxon Discovery Could Change Deepwater Gulf of Mexico Outlook

Oil companies are hoping this latest major find will provide further justification for speeding up the permit issuing process for deepwater drilling in the Gulf of Mexico.