News on Oil Exploration Companies and the Consequences of the Oil Spill

The oil exploration is extending in all parts of the world, currently the Chevron is performing deep water drilling in the Lagavulin at the depth of nearly 1600 meter. The chief executive officer of the Chevron United Kingdom Richard Cohagan declared that, the high pressure mounted in the particular area is the pivotal reason for such a large estimate and the deepwater Horizon has delivered us a view on how worst the things could go wrong and they computed the spill rate with the help of the seismic and core pressures reports. The gloomy climatic conditions has blocked the working progress for more than a week and most of the oil and natural gas companies in the North Sea is reanalyzing the drilling operations after the disaster of the BP oil well in the Gulf region. The analysts and veterans from the Health and Safety Committee recently announced that, the safety measures for the oil fields handled by the oil companies in the United Kingdom is the most reliable one in the world.

Paz Oil Company was recently fined around $800,000 by the Haifa Magistrates Court for polluting the water resources and cases were filed under the Water Law and the company should take immediate steps to prevent further contamination. Gilad Erdan, the minster for the Environment Protection articulated that, the companies should realize about the pollution and the court have mentioned that, polluting the ecosystem is against the jurisprudence and the substances that affect the wellness of the people are subjected to crime. The Ministry of Environmental Protection has filed more than a couple of bills of indictment on the five gas wells owned by the Paz Oil Company and fined around three million shekels, due to this the Paz Oil Company confided that, it will stop its production for a period of two years under the offense of Water law.

The government of Pakistan is importing natural gas via the Iran-Pakistan gas pipeline but The State forces the Pakistan to import liquefied natural gas in lieu of the natural gas this was declared by the spokesperson of the United States Embassy. The reports revealed by few anonymous functionaries portrayed that, the Government agency in United States the Overseas Private Investment Corporation which helps the companies in the United States with funds has supported the transfer of liquefied natural gas in the Iran-Pakistan gas pipeline and the deviates Pakistan in this transport venture.

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