Energy & Oil

Energy & Oil
Thursday, January 7th 2016 - 09:19 UTC

Rockhopper faces challenge with offshore exploration project in Italy

Italy's parliament recently approved propositions which included the reintroduction of restrictions on offshore oil and gas activity close to the coast

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.

Wednesday, January 6th 2016 - 12:02 UTC

Falkland Oil & Gas closer to completing merger with Rockhopper Exploration

The deal will comprise 0.2993 Rockhopper shares for every one FOGL share, which at the time valued FOGL at around GBP57.1 million.

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.

Monday, January 4th 2016 - 09:38 UTC

How far can the Syria Conflict spiral out of control: Interview with Pelicourt

You know, Putin's probably not too far off in his statement referring to Erdogan's loss of “mind and reason”.

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.

Wednesday, December 30th 2015 - 00:46 UTC

Petrobras corruption 'net' involves Norwegian companies, claim Oslo media

A company named in the Petrobras scandal is Akastor, a spun off from the large Norwegian oil supply company Aker Solutions in 2014.

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.

Thursday, December 24th 2015 - 11:11 UTC

Capital-strapped Petrobras wants to extend oil and gas fields contracts

By renewing early Petrobras will ensure it can count remaining reserves on its financial accounts for a longer period, making it easier to raise capital.

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.

Wednesday, December 23rd 2015 - 08:46 UTC

Despite falling oil prices, Brazil is developing the equatorial Barreirinhas basin

CGG is deploying its specialized seismic vessel, the Oceanic Vega, to acquire the 14 500 km² 3D seismic survey.

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.

Wednesday, December 23rd 2015 - 08:02 UTC

Argentina's Falklands' claim and rejection of oil activities reiterated at the 'new' Mercosur summit

This is the first regional document related to the Falkland Islands Argentine claim since Mauricio Macri took office last 10 December.

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.

Saturday, December 19th 2015 - 04:11 UTC

United States lifts 40-year ban on exports of crude oil

United States oil producers will now be able to sell crude to the already saturated international market. The bulk of US oil comes from shale producers.

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.

Wednesday, December 16th 2015 - 08:49 UTC

Argentina outlines oil and gas wellhead price policy

Aranguren, an ex Shell executive, was an outspoken opponent of Kirchnerite energy policies and Shell was subject to government-sponsored boycotts

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.

Wednesday, December 16th 2015 - 08:20 UTC

YPF and Dow sign US$500m agreement to further develop shale gas

President Macri attended the signing ceremony. His administration plans to triple gas production by the end of 2016

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.


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