Energy & OilEnergy & Oil
Argentina's lower house of Congress, which is controlled by President Cristina Fernandez's allies, gave final approval Thursday for a new Hydrocarbons Law that was harshly criticized by opposition lawmakers. The lower house passed the bill with a vote of 130-116 with one abstention after more than 14 hours of debate.
The Petrobras-led Libra consortium has said that the first extension well in the Libra area, known as 3-BRSA-1255-RJS (3-RJS-731), has proven the discovery of high-quality oil in the northwest portion of the structure.
Chile's oil and gas government company, Empresa Nacional de Petroleo (ENAP) returned to the US dollar market for the first time in almost three years, becoming the latest Chilean issuer to take advantage of a strong bid for high-quality Latin American corporates.
Oil firms BP and GDF Suez have announced the discovery of a new field in the UK Central North Sea. The find, which spans adjacent blocks operated separately by the two companies, has been flow-tested at a maximum rate of 5,350 barrels per day.
The UK's wind farms generated more power than its nuclear power stations on Tuesday, the National Grid says. The energy network operator said it was caused by a combination of high winds and faults in nuclear plants.
Nordic Maritime, a leading offshore service operator, announced this week a five year time charter for its DP2 IMR Subsea vessel, Mokul Nordic, which has been awarded by Noble Energy, the Houston based international energy provider, which also has operations in the Falkland Islands.
The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of Oct. 17, compared to the prior week. There are now 1,590 active oil rigs, the lowest level in six weeks.
French oil major Total appointed on Wednesday refining head Patrick Pouyanne as chief executive and former CEO Thierry Desmarest as non-executive chairman. The nominations at the head of the world's fourth-largest integrated oil company came less than 48 hours after the brutal death of Chairman and CEO Christophe de Margerie in a plane crash in Moscow.
Russian investigators have said criminal negligence caused the crash at a Moscow airport that resulted in the death of Total's chief executive. Christophe de Margerie died along with three crew members when his corporate jet collided with a snow plough.
Noble Energy, Inc., which is involved in Falkland Islands hydrocarbons exploration and confirmed its interest in the South Atlantic potential, said on Tuesday that its Board of Directors has elected David Stover as President and Chief Executive Officer, succeeding Charles Davidson as CEO.