Energy & Oil

Energy & Oil
Wednesday, November 5th 2014 - 06:43 UTC

The end of an era: Is the US petrodollar under threat?

China and Russia have been furiously signing energy deals: the most obvious is the $456 billion gas deal that Russian Gazprom signed with China in May

Recent trade deals and high-level cooperation between Russia and China have set off alarm bells in the West as policymakers and oil and gas executives watch the balance of power in global energy markets shift to the East.

Tuesday, November 4th 2014 - 05:05 UTC

Falklands have a per capita GDP “ten times higher than Argentina”

According to the Yearbook in the last five years the Islands' GDP has expanded 11% per year until 2012 and an even higher percentage can be expected for 2013

Argentina's financial daily, El Cronista Comercial has published two articles on the Falkland Islands based on data from the 2014 Statistical Yearbook stating that the Islands enjoy a GDP per capita several times higher than Argentina and that the economy has been expanding at 11% annually since 2008.

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.

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