“Is a monthly stopover in Argentina too high a price to pay for a direct weekly flight to Sao Paulo, the biggest flight hub in South America,” is the question we all have to ask ourselves, said lawmaker MLA Mike Summers this week as he set out the situation and options available to progress and develop the Falkland Islands’ economy.
Petrobras is reading to announce a domestic fuel policy that will avert costly subsidies that drained profits during Brazil’s previous government, Chief Executive Officer Pedro Parente said in an interview. For years fuel prices were manipulated as part of the government's policy to keep inflation under control.
Brazil's lower chamber of Congress approved this week the main points of a bill removing a requirement that state-led oil company Petrobras be the sole operator of vast offshore oil reserves in the costly subsalt layer with a minimum 30% stake in their development.
Horizontal fracking can go ahead, the British government has said, in a landmark ruling for the UK shale gas industry. Communities Secretary Sajid Javid has approved plans for fracking at Cuadrilla's Preston New Road site at Little Plumpton in Lancashire.
The World Trade Organization confirmed on appeal on Thursday its ruling partially in favor of Argentina in its dispute with the European Union over duties the bloc imposes on imported biodiesel.
Saudi Arabia and Iran may yet come to terms on some sort of production arrangement, but the outcome of the negotiations in Algeria this week may not do much to rescue oil prices. Following the media spectacle, the oil markets may have to shift their attention back to the supply and demand fundamentals, which are not reassuring
British Antarctic Survey ship, the RRS James Clark Ross, set sail on its long voyage from Immingham in the UK to Stanley in the Falkland Islands last 20 September. The ship, which carries out important scientific research in the Southern Ocean during the Antarctic summer months, is conducting survey work as it makes its passage south.
The Falkland Islands government would claim 9% royalty on one barrel of oil, plus 26% corporation tax on profit, confirmed Member of Legislative Assembly Roger Edwards this week.
Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major OPEC producers would find a compromise this week to help ease a global glut of crude.
A consortium led by Canada's Brookfield Infrastructure has signed a deal to buy a controlling stake in a natural gas pipeline system in Brazil from Petrobras for US$5.2 billion. Under the deal, the consortium will acquire a 90% stake in Nova Transportadora do Sudeste S.A. (NTS). Petrobras will retain a 10% stake.