Energy & Oil

Energy & Oil
Friday, October 31st 2014 - 07:51 UTC

Argentina approves new hydrocarbons bill to attract foreign investments

Argentine urgently needs an inflow of funds to develop its massive Vaca Muerta shale oil and gas deposits and lower its hefty energy-import bill.

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.

Friday, October 31st 2014 - 06:28 UTC

Petrobras consortium find high-quality oil at the Libra area, off Rio do Janeiro

Libra consortium  is composed of Petrobras (40%), Shell (20%), Total (20%) and China's CNOOC (10%)

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.

Wednesday, October 29th 2014 - 05:58 UTC

Chile's oil and gas corporation ENAP raised 600m dollars in 10-year bonds

The buy-side and rating agencies also find comfort in the Chilean government’s high willingness to support what is a strategic asset for the country

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.

Saturday, October 25th 2014 - 12:50 UTC

BP and GDF Suez announce discovery of new field in UK Central North Sea

The discovery has been called Marconi by GDF Suez subsidiary GDF Suez E&P UK, while BP has named it Vorlich ( Pic Thinkstock)

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.

Friday, October 24th 2014 - 07:01 UTC

UK wind farms generated more power than the nuclear stations

Wind farms are causing controversy in rural areas and the government is choking off planning permission for new sites

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.

Friday, October 24th 2014 - 04:11 UTC

Noble Energy contracts subsea vessel for operations in the Mediterranean

The Mokul Nordic is a 75 meter long dive and multi-support vessel, designed to meet the needs of the offshore subsea industry

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.

Thursday, October 23rd 2014 - 21:26 UTC

Slumping oil prices are putting pressure on U.S. shale operations

U.S. drilling companies could begin to seriously start removing rigs from operation if prices drop to around 75 dollars per barrel.

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.

Thursday, October 23rd 2014 - 06:15 UTC

Total makes two appointments to replace de Margerie killed in a plane crash

Pouyanne, 51, had a key role in merging Total's loss-making “downstream” refining and petrochemical units in recent years,

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.

Wednesday, October 22nd 2014 - 08:14 UTC

“Criminal negligence” in the crash at Moscow airport that killed Total's CEO

Mr. Margerie, who had headed French firm Total since 2007, was one of the oil industries most recognizable leaders.

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.

Wednesday, October 22nd 2014 - 04:55 UTC

Falklands' Noble Energy elected David Stover as president and CEO

Stover has previously been serving as the company's President and Chief Operating Officer and takes his new post in May.

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.

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