Energy & OilEnergy & Oil
Rockhopper Exploration PLC on Wednesday was forced back to the drawing board to review its Ombrina Mare project offshore Italy after the country's parliament reintroduced restrictions on activity near the coast. The news could be a blow to the company, which is set to merge with Falkland Oil & Gas Ltd, after Falkland Oil shareholders approved the deal on Tuesday.
Falkland Oil and Gas PLC late Tuesday took a step closer to completing the proposed all-share merger with fellow AIM-listed Rockhopper Exploration PLC after its shareholders voted in favour of the deal.
Business is business, so why not buy oil from ISIS. The Russians claim the Turks are doing it, and in all likelihood even Assad is buying it. No one can fight a war without oil, according to Robert Bensh, partner and managing director of Pelicourt LLC oil and gas company.
The huge corruption case swirling around Brazilian oil company Petrobras is being called the world’s largest, and increasing numbers of Norwegian companies seem to be getting tangled up in it. Norwegian bosses mostly claim no knowledge of any bribes being paid, but investigations are underway on several fronts.
Brazil's state-run oil company Petrobras will have to agree to extract at least 900 million barrels more of oil and natural gas equivalent from its Marlim and Voador offshore oil fields to win early renewal of its concession rights, oil regulator ANP said.
Inchcape Shipping Services (ISS), the world's leading maritime and logistics service provider, has signed a contract with CGG to provide offshore agency support services for a new oil and gas exploration project in the Barreirinhas Basin in the equatorial margin of northern Brazil.
Argentina's Falklands' claim and rejection of oil activities reiterated at the 'new' Mercosur summit
Mercosur full and associate members ended their Paraguay summit signing six joint statements, one of which in support of Argentina's sovereignty claim over the Falklands/Malvinas Islands and rejecting 'non authorized' hydrocarbons exploration in the Argentine continental shelf. This is the first regional document related to the Falkland Islands Argentine claim since Mauricio Macri took office last 10 December.
The United States has approved a measure to lift the 40-year ban on crude oil exports. The move is part of a US$1.1 trillion spending bill approved by the Senate on Friday that will fund the US government until 2016.
Argentina's new government will maintain wellhead crude prices above international levels for now, although the differential will narrow as artificially low wellhead prices for natural gas are gradually adjusted upwards, energy minister Juan Jose Aranguren announced on Tuesday.
Argentina announced on Tuesday an agreement between state-run oil company YPF and Dow Chemical to spend $500 million next year developing a natural gas project in the Patagonia region.