Off-shore oil drilling currently accounts for over 35% of the world's total oil production, and that number has consistently risen over recent history. While a majority of oil extraction takes place ...

OSLO, Norway (AP) – Statoil on Wednesday evacuated 326 oil rig workers from a North Sea platform after the structure began to tilt, the Norwegian oil company said. Company spokesman Ole Anders Skauby ...

Offshore oil projects are experiencing a resurgence due to higher prices, leading to a boom in the floating rig business. The World Bank predicts a historic oil glut due to factors like rising ...

RIO DE JANEIRO, Brazil (AP) -- The world's biggest floating oil rig sank in the South Atlantic on Tuesday, and the state oil company Petrobras said some of the 300,000 gallons of diesel fuel on board ...

The Noble Bully 1 is Shell's most advanced floating oil rig, with an enclosed tower for precise assembly and placement of a drill that can extend thousands of feet below the surface. WSJ's Steven ...

Chinese yard CIMC Raffles has won a contract from Italian major Saipem to convert its semi-submersible drilling rig Scarabeo 5 into a floating production unit for operation offshore West Africa. The ...

'It's at the bottom of the sea.' Rescue crews, try to save the sinking P-36 oil rig on Monday about 80 miles off the coast of Macae, Brazil. The Brazilian Petrobras oil company said the rig sank in ...

RIO DE JANEIRO, Brazil - The world's biggest floating oil rig sank in the South Atlantic on Tuesday, and the state oil company Petrobras said some of the 300,000 gallons of diesel fuel on board had ...

Norway’s BW Energy has struck a deal to buy a semi-submersible that is set to be the hub of a gas-to-power project designed to exploit 1.3 trillion cubic feet of gas in its Kudu field offshore Namibia ...

RIO DE JANEIRO, Brazil (AP) The world s biggest floating oil rig sank in the South Atlantic on Tuesday, and the state oil company Petrobras said some of the 300,000 gallons of diesel fuel on board had ...