Offshore Energy

NY Governor Hochul to fight Secretary Burgum’s shut down of Empire Wind “every step of the way”

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The post NY Governor Hochul to fight Secretary Burgum’s shut down of Empire Wind “every step of the way” appeared first on Insurance Marine News.

https://insurancemarinenews.com/insurance-marine-news/ny-governor-hochul-to-fight-secretary-burgums-shut-down-of-empire-wind-every-step-of-the-way/

Upstream energy softening exceeds expectations, follow competition intensifies, says broker WTW

Upstream energy clients were increasingly favouring automatic capacity over traditional follow-only markets, according to George Richardson from broker WTW. This was because of its lack of differentiation between poor-performing construction classes, he said. Willis’s global head of natural resources, Rupert Mackenzie, warned that challenges to insurers’ profitability were increasing. Energy insurers were chasing market share…

The post Upstream energy softening exceeds expectations, follow...

https://insurancemarinenews.com/insurance-marine-news/upstream-energy-softening-exceeds-expectations-follow-competition-intensifies-says-broker-wtw/

Joint resolution scraps rule seen as hindering offshore energy development

In a move applauded by Secretary of the Interior Doug Bergum as fostering offshore energy development, President Trump last week signed S.J.Res.11, a joint resolution disapproving the Bureau of Ocean Energy Management’s rule titled “Protection of Marine Archaeological Resources.”

The BOEM rule, published under the previous administration on Sept. 3, 2024, mandated that all new oil and gas leaseholders on the Outer Continental Shelf submit archaeological reports in previously unsurveyed areas...

https://www.marinelog.com/offshore/oil-gas/joint-resolution-scraps-rule-seen-as-hindering-offshore-energy-development/

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