Russian state oil company Rosneft has agreed to double its oil supplies to China, in a deal worth 270bn dollars over 25 years. Under the terms of the deal, Rosneft will supply 300.000 barrels of oil a day to China starting in 2015.
India's relentless search for hydrocarbons to fuel its booming economy has managed the rather neat diplomatic trick of annoying Washington, delighting Tehran and intriguing Baghdad, all the while leaving the Indian Treasury fretting about how to pay for its oil imports, given tightening sanctions on fiscal dealings with Iran.
On account of applicable Norwegian Government tax changes Statoil as operator has recommended a delay of the investment decision for the Johan Castberg project in the Norwegian Barents Sea.
Argentina ranks fourth, behind Russia, the United States and China with technically recoverable shale oil reserves of 27 billion barrels, the US Energy Information Administration (EIA) said in a landmark report that offers a preliminary glimpse of the hydrocarbons that remain untapped across the world.
Falkland Islands Holdings' shares rose on Monday after it posted an increase in underlying pre-tax profits and looked forward to 'an exciting future'. FIH reported underlying pre-tax profits of £3.29m for the year to the end of March - 1.9% up on last time.
Argentina’s energy imports during April soared 47.6% over a year ago reported the government mainly because of massive natural gas purchases for the coming winter. The bill in April climbed to 733 million dollars from 384 million a year ago, while Enarsa the government corporation that has the monopoly of LNG imports spent 438 million this year and 259 million in April 2012.
Falkland Oil and Gas (FOGL) reported Thursday the completion of a 3D survey over its Southern Area licenses offshore the Falkland Islands. FOGL said the survey aimed to target a number of prospects and leads immediately to the west and northwest of the Darwin condensate discovery.
Argentina's Supreme Court revoked a 19 billion dollar embargo on the assets and future income of Chevron Corp.'s Argentina subsidiary, giving the U.S. oil giant a victory in a decades-old battle with indigenous groups in Ecuador.
For the first time the Falkland Islands have underlined the significance of the hydrocarbons industry as a fully integrated sector of the local economy as it effectively and successfully moves from the exploration to the exploitation stage with first shipments scheduled for 2017. At the same time it regrets that South American companies are not participating of the logistical opportunities because of Argentine interference.
Denmark’s Vestas Wind Systems wind-turbine maker received a 90-megawatt turbine order from Compañia Forestal Uruguaya SA for the Pintado power plant in south centre Uruguay. The 30 3-megawatt turbines project will be serviced by the company for 15 years and the farm is expected to be operational by the second quarter of next year.