offshore News

The Natural Gas Glut Moves Offshore

Liquefied natural gas traders are following the latest trend in the oil market by storing huge amounts of the commodity on tankers, hoping prices will rise before the ship docks. But while crude can sit for months or even years …

Quake Hits Central Chile

A magnitude-7.2 earthquake struck central Chile Sunday night, the strongest and longest that many people said they had felt since the huge quake that devastated the area two years ago. There were no immediate reports of casualties or major damage. …

Brazil Official Sees $28 Million Fine for Chevron

Rio de Janeiro state’s environment secretary says Brazil is expected to fine Chevron nearly $28 million for an ongoing offshore oil spill. Carlos Minc says the national government will also ask Chevron to pay for damages caused by the Atlantic …

Brazil Official: Chevron Unprepared for Leak

U.S.-based Chevron Corp. was not prepared for the offshore oil leak at one of its wells, the head of environmental affairs for Brazil’s federal police said Saturday. Fabio Scliar said Chevron personnel at the well told his investigators that they …