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2015-04-14 20:05:00

OPERATIONS ARE SAFER

OPERATIONS  ARE  SAFER

Advances in technology, standards and practices in the last five years have made America's offshore #oil and natural #gas industry safer than ever, #API President and CEO Jack Gerard told reporters on a press conference call today.

"Our goal is zero accidents and zero spills," said Gerard. "Our daily commitment is one of constant improvement until that goal becomes reality. The millions of men and women who work in our industry – and all Americans whose lives are powered by oil and natural gas – deserve no less."

Gerard highlighted a number of actions the industry has taken, which began immediately after the Macondo incident in 2010 with a comprehensive review of existing practices to improve accident prevention, intervention and response.

"The industry's overall safety record was strong before Macondo, and the co-chairs of President Obama's national spill commission were absolutely right when they said that offshore drilling is now even safer," said Gerard. "We will continue to build on these achievements because our goal is zero accidents and zero spills."

Since 2010, API has published more than 100 new and revised industry standards for safe exploration and production. The Center for Offshore Safety, created in 2011, works to share best practices and help companies build enhanced safety programs, which are based on an API standard and now required by federal regulation.

"Producing more oil and natural gas here at home has not only grown our economy," said Gerard. "It has strengthened our national security and made the U.S. a world leader in energy. One thing makes all of this possible: the ability to develop our energy resources safely and responsibly."

Joining Gerard on the call were Randall Luthi, president of the National Ocean Industries Association, and Stephen Colville, president and CEO of the International Association of Drilling Contractors. Luthi and Colville's comments focused on advances in well containment technology and capabilities and drilling safety.

API represents all segments of America's oil and natural gas industry. Its more than 625 members produce, process, and distribute most of the nation's energy. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy.

api.org

Tags: U.S., OFFSHORE, OIL, GAS, API

Chronicle:

OPERATIONS  ARE  SAFER
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

OPERATIONS  ARE  SAFER
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

OPERATIONS  ARE  SAFER
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

OPERATIONS  ARE  SAFER
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

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