WorldOil U.S. looks to close liability loopholes for bankrupt offshore oil producers The Interior Department is proposing rules to strengthen the issuance criteria after companies have filed for Chapter 11 and escaped financial obligations to cap their non-producing wells, said Walter Cruickshank, acting director of the department’s Bureau of Ocean Energy Management. Are the oil industry's opportunities for post-coronavirus recovery dwindling in North America? In this week's podcast, World Oil editors discuss how legislative activities, a smaller labor pool, and harsh economic realities are impacting options for oil and gas sector growth in North America's post-coronavirus economy. BP enters offshore wind with $1.1 billion U.S. investment BP will receive a 50% stake in the Empire Wind and Beacon Wind developments off New York and Massachusetts, respectively. Equinor will retain 50% in both, and continue to be the operator, the companies said in two separate statements on Thursday. Trump extends Florida’s offshore drilling ban President Donald Trump endorsed an extended ban on offshore oil development on Florida’s western coast as he courts voters worried that drilling imperils the state’s beaches and tourism-based economy. Aramco reviewing multi-billion Texas LNG terminal investment plan Aramco is reviewing a decision last year to buy 25% of Sempra Energy’s liquefied natural gas terminal in Texas -- which would cost several billion dollars -- and has already taken some staff off the project, according to someone familiar with the matter, who asked not to be identified because they aren’t authorized to speak to the media. U.S. LNG exporters prepare to survey Hurricane Laura’s damage Along with millions of Americans, much of the Gulf Coast’s energy infrastructure is at risk from Hurricane Laura’s “unsurvivable storm surge” that could inflict more than $15 billion in insured losses. Oil edges lower as Hurricane Laura threatens Gulf refinery capacity Oil edged lower from a five-month high as Hurricane Laura bore down on key refining facilities on the U.S. Gulf Coast, with forecasts saying it will strengthen rapidly into a “potentially catastrophic” Category 4 storm. Laura to strike U.S. oil and gas infrastructure as “potentially catastrophic” Cat 4 hurricane The tropical threat has prompted more than 84% of oil output and nearly 61% of natural gas production in the Gulf of Mexico to be shut, according to the Interior Department’s Bureau of Safety and Environmental Enforcement. Category 3 hurricane Laura targets U.S. energy infrastructure Laura’s winds will likely peak at 115 miles (185 kilometers) per hour as it comes ashore early Thursday, the National Hurricane Center said. Laura has disrupted offshore oil and natural gas production, shuttered refineries and export terminals and prompted mandatory evacuations. Oil prices climb as two hurricanes shutter U.S. offshore production Almost 58% of crude output, or more than 1 million barrels a day, in the Gulf of Mexico was closed as of midday Sunday. The storms Marco and Laura -- the latter of which is forecast to become a hurricane -- are coming from different directions and have the potential to cause billions of dollars in damage.