Energy & Oil

Energy & Oil
Tuesday, January 6th 2015 - 07:41 UTC

US oil price falls below 50 dollars threshold, and markets decline sharply

US oil production has soared recently, as fracking has revolutionized oil production in the country

The US oil price fell below the symbolic threshold of $50 a barrel for the first time since April 2009, before finishing the day at $50.05. The price of Brent crude also fell on Monday, dipping 6% to $53 a barrel.

Tuesday, January 6th 2015 - 07:14 UTC

Rockhopper awarded exploration licence with ENI, in Croatian Adriatic

“This represents an outstanding low cost opportunity to increase our acreage position in an area with proven hydrocarbons,” said Rockhopper CEO Sam Moody

The British company Rockhopper Exploration, with interests in the Falkland Islands, has been awarded a licence to explore, together with Italy's Eni, a field for possible oil and gas exploitation in the central part of the Croatian Adriatic.

Wednesday, December 31st 2014 - 05:18 UTC

Blackout for Paraguay's hydrocarbons hopes in Chaco drillings

Hydrocarbon flow testing has been hampered by mechanical failures due to poor hole conditions said chairman Peter Levine

President Energy slumped by as much as a third on Monday following an update on testing of the Silurian Santa Rosa and Devonian Icla reservoirs in the Lapacho well in Paraguay's Chaco. A test of Santa Rosa was cut short, although management reckons that it can be commercialized, and a test of Icla recovered only gas and no oil.

Wednesday, December 31st 2014 - 02:54 UTC

Russia's Gazprom takes 100% control of major international gas pipeline

Russian President Vladimir Putin announced the decision on Russia’s withdrawal from the project on December 1 while on visit to Turkey.

Russia’s gas giant Gazprom said in a release on Monday it had signed a deal with Eni, Wintershall and EDF on the purchase of 50% of shares in South Stream Transport BV. Thus, Gazprom will be a 100% owner of the company.

Monday, December 29th 2014 - 20:09 UTC

Did The Saudis And The US Collude In Dropping Oil Prices?

The oil price drop that has dominated the headlines in recent weeks has been framed almost exclusively in terms of oil market economics, with most media outlets blaming Saudi Arabia, through its OPEC Trojan horse, for driving down the price, thus causing serious damage to the world's major oil exporters – most notably Russia.

Monday, December 29th 2014 - 08:33 UTC

FIG approves Code of Practice for Procurement by Oil & Gas Companies

Code of Practice for oil industry voluntary at this stage.

Its acceptance is voluntary at this stage. It provides for formation of Local Content Board, among other steps towards maximising local benefits and opportunities.

Monday, December 29th 2014 - 07:57 UTC

YPFB-Andina awarded exploration rights in Santa Cruz areas

Bolivia's economy is growing stronger, exports rise, oil exploration keeps pace

Bolivia's export 6.3 % higher than despite drop in gas volumes. Economic growth, foreign investment continue

Friday, December 26th 2014 - 07:43 UTC

Bolivian Oil Company CEO on sick leave, has cancer

YPFB Villegas will leave the company for cancer treatment

President Evo Morales to coordinate operations with company executive in the meantime. Vice President Garcia Linera makes the announcement regarding 'Comrade' Villegas

Friday, December 26th 2014 - 06:17 UTC

Exceptional year 2014 for Argentina's YPF

Miguel Galuccio, CEO of YPF

The CEO of the state-owned oil company YPF Miguel Galuccio has assured that 2014 “was an exceptional year” in terms of growth and investment. He pointed out that every goal for the year had been achieved.

Friday, December 26th 2014 - 00:59 UTC

Uruguay's Economy Minister skeptical on ARU study

Economy Minister Mario Bergara finds it hard to bring down inflation.

Consumers could have saved as much as US$ 167 million had fuel been imported directly instead of oil being refined by ANCAP. Mario Bergara deems it to be “overblown”

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