Declaring 2010 “the best year in safety performance in our company’s history,“ Transocean Ltd., owner of the Gulf of Mexico oil rig that exploded, killing 11 workers, has awarded its top executives hefty bonuses and raises, according to a recent filing with the U.S. Securities and Exchange Commission. Get the full story »
Inside these posts: Oil drilling
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U.S. approves 3 deepwater wells in Gulf of Mexico
U.S. regulators Monday approved a Royal Dutch Shell PLC plan to drill three exploratory wells in the Gulf of Mexico.
The Interior Department’s green light for the wells in Shell’s Auger field marks the first time U.S. regulators have approved a new deepwater well in the Gulf since the Deepwater Horizon explosion last April and subsequent oil spill.
Chevron to go ahead with gulf oil project
Chevron Corp. said it would spend $4 billion to develop its Big Foot project in the Gulf of Mexico, even as tougher rules and higher costs loom for deepwater operators.
Chevron, the second-largest U.S. oil company behind Exxon Mobil, has continued to invest in the Gulf of Mexico even as uncertainty over costs and the U.S. government’s new safety regulations linger after the BP Plc oil spill. Get the full story »
