Nearly six months on from the Deepwater Horizon disaster, president Barack Obama has lifted the moratorium on offshore drilling in the US.

In a statement yesterday (October 12th), the Obama administration expressed confidence that the industry can recommence operations safely now that new regulatory compliance measures are in place.

The president was under intense pressure to lift the ban early, due to the large-scale losses suffered by the energy sector as its rigs and platforms sat idle.

Mr Obama has responded by insisting that the ban would be lifted until the executive is satisfied that strong compliance measures are in place.

Energy firms will now be required to adhere to oil and gas training and safety standards previously forming a best-practice code.

"I have decided that it is now appropriate to lift the suspension on deepwater drilling for those operators that are able to clear the higher bar that we have set," he said.

Oil and Gas Directory: Training and Development