U.S. orders rigs with faulty bolts to halt operations

02/6/2013 | Bloomberg

U.S. regulators have ordered energy firms including Chevron and Royal Dutch Shell to suspend activities on rigs equipped with General Electric devices using defective bolts. Bolt replacement could take three weeks, according to Credit Suisse Group. "This is a result of increasing government scrutiny of deep-water activities," said Craig Pirrong, director of the Global Energy Management Institute at the University of Houston.

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