Articles Tagged "offshore drilling"

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

Oil – 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

Oil – 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 – 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.

Marine Mining

Gold – With nearly 70 percent of the earth’s surface located underwater; it is no surprise that exploration companies are turning their attention to the bedrock and sediments below the ocean as a potential source of minerals.