Energy & Oil

Energy & Oil
Thursday, October 9th 2014 - 10:36 UTC

YPF goes overseas: signs agreement with Ecuador to recover mature fields

CEO Galuccio said the Petroamazonas project is part of YPF's strategy to diversify overseas and become a top league player in the region's oil industry

Argentina's state-run energy company YPF closed on Wednesday an agreement with Ecuador's state-owned company Petroamazonas for the enhanced recovery of the mature field of El Campo Yuralpa which will demand an investment in the range of 170 million dollars.

Thursday, October 9th 2014 - 06:38 UTC

YPF admits contacts with Russia's Gazprom but no accord or MOU has been reached

Ms Giorgi  met in Russia with Gazprom head Alexey Miller, who told her a “confidential” deal had been reached with Argentine state-run YPF

Argentina's state-run energy company YPF admitted on Wednesday having held promising meetings with Russia's Gazpron to consider different collaboration and business opportunities, “but so far has not signed any Memorandum of Understanding, MOU or agreement”.

Monday, October 6th 2014 - 07:19 UTC

Falklands' offshore Scotia well not viable: Noble Energy will take 75m write down

 The well was drilled by the Leiv Eiriksson owned by Norway’s Ocean Rig.

Houston-based Noble Energy will take a 75 million write down for exploration costs after determining that its offshore Scotia well in the Falkland Islands is not commercially viable. The well was drilled in 2012 using 2D seismic interpretation but was deemed non-commercial following analysis of 3D seismic data.

Friday, October 3rd 2014 - 21:00 UTC

The world's 10 biggest energy gluttons

Iceland consumes the most energy per person with most of Iceland's energy coming from hydroelectric and geothermal power

Next time you get into your car and drive to the supermarket, think about how much energy you consume on an annual basis. It is widely assumed that Westerners are some of the world's worst energy pigs. While Americans make up just 5% of the global population, they use 20% of its energy, eat 15% of its meat, and produce 40% of the earth's garbage.

Friday, October 3rd 2014 - 07:47 UTC

Falklands approves 80 room portable hotel ahead of the coming oil drilling season

Hamish Wylie described the project as similar to the temporary hotels used at major events such as the Commonwealth Games or the Ryder Cup

The first sign of oil industry impact on the face of the Falkland Islands capital, Stanley is in the offing with the planning approval given for an 80 room portable hotel near The Trough.

Friday, October 3rd 2014 - 07:11 UTC

Oil at its lowest point in more than two years as Saudis defend market share

Riyadh announced lower prices to hold onto market share, which it had been losing against a broader production increase by rivals in OPEC and elsewhere.

Price cuts by key exporter Saudi Arabia helped send global crude prices to their lowest point in more than two years Thursday before they recovered in late trade.

Friday, October 3rd 2014 - 06:38 UTC

Bank of England wants new powers to prevent a housing 'boom and bust'

Osborne promised that the Bank's powers to “recommend” would be beefed up to powers to “direct”, in order to prevent a dangerous bubble developing.

The Bank of England has asked formally for new powers to prevent a housing boom and bust. Under the powers, the Bank would be able to limit how much people can borrow to buy a home, according to their financial circumstances.

Wednesday, October 1st 2014 - 08:00 UTC

Falklands' 2015 oil drilling program to include Borders & Southern

“Our objective is to reach a conclusion so that we can participate in the 2015 Falklands drilling program with the other companies”, said CEO Howard Obee.

Borders & Southern Petroleum PLC said it will join a Falkland Islands drilling consortium so it can participate in the 2015 drilling program on the Islands, as soon as partnering and funding has been secured for its licenses.

Tuesday, September 30th 2014 - 22:01 UTC

Fed up with US federal inaction, states act alone on Cap-and-Trade

Quebec Premier Couillard said they were working hard to recruit new partners: with a couple of western states, Ontario, and some New England partners

Unsatisfied with the pace at which the federal government is acting to reduce greenhouse gas emissions, several U.S. states and a few Canadian provinces are forging ahead with their own initiatives.

Wednesday, September 24th 2014 - 15:55 UTC

Argentia economic situation can become 'harmful' for the region says Moody's

“Inflation, high interest rates and recession have forced Argentine consumers to cut expenses, which can impact negatively on the region

Credit ratings agency Moody's Investors Service has warned about the Argentine situation which can become “harmful” for Latin America, stating that the country's economy is in “decline” and qualifying current policies as “highly risky.”

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