Energy & Oil

Energy & Oil
Friday, April 3rd 2015 - 07:08 UTC

Falklands first well of current drilling program declared “oil and gas discovery”

 MLA Jan Cheek said the Zebedee discovery identifies additional resources that could form part of subsequent phases of the Sea Lion field development

The Falkland Islands government welcomed on Thursday the announcement by Premier Oil and partners that the 14/15b=5 “Zebedee” well has been declared an oil and gas discovery following the completion of its evaluation program, Zebedee is the first of six wells from the current drilling campaign planned to take place in Falklands waters during 2015.

Thursday, April 2nd 2015 - 08:08 UTC

Can Argentina capitalize on its vast shale reserves?

Experts have kept an eye since the US Energy Information Administration identified Argentina as holding the world's second largest shale gas and fourth largest shale oil reserves.

Argentina, once a regional energy leader, is now better known for financial busts and bombastic politicians than hydrocarbons prospects. Still, with a resource potential both vast and untapped, the nation has never been far from energy investors' minds. The question today is just how much Argentina is willing to change and how this plays into a low oil price environment that is already negatively impacting investment elsewhere.

Thursday, April 2nd 2015 - 07:42 UTC

Falklands oil explorer looking for associate to develop Darwin discovery

 Borders and Southern said it has been looking to secure partners against a backdrop of weaker oil prices, reduced expenditure but also cheaper rig and well service costs.

Falklands’ explorer Borders and Southern Petroleum PLC said this week its pre-tax loss widened in 2014 as costs increased, and admitted it has struggled to find a partner for the Darwin discovery to the south of the Falkland Islands, against a backdrop of reduced investment by companies caused by the fall in oil prices.

Thursday, April 2nd 2015 - 07:31 UTC

Brazil oil industry wants new auction rights rules and more efficient sourcing requirements

The IBP also wants the government to make changes to the legislation governing auctions to reduce “uncertainty that causes investors to stay away,” De Luca said.

The Brazilian Petroleum Institute, or IBP, has called on the government to change the regulatory framework to deal with the crisis caused by the collapse of oil prices and the corruption scandal at state-controlled oil giant Petrobras.

Wednesday, April 1st 2015 - 08:26 UTC

Driverless cars poised to transform automotive industry

The F 015 'Luxury in Motion' concept car is completely self-driving but still has a steering wheel and brake if you want to swivel around and drive it manually.

The newest Mercedes autonomous car looks like a car on the outside but like a lounge on the inside, with four swivel seats facing each other in a multimedia bubble of padded leather and walnut veneer.

Monday, March 30th 2015 - 06:58 UTC

Falklands' oil industry advances despite the fall in oil prices, according to FT

Sam Moody insists that a smaller scale plan at Sea Lion with an initial outlay of 1.8bn dollars or less, could guarantee the beginning of production before 2020”.

A recent piece from the Financial Times points to the fact that despite the remoteness of the Falkland Islands, the fall of international oil prices and the ongoing conflict with Argentina, this has not impeded small oil and gas companies from going ahead with exploration, and hopefully before 2020 production, in the Islands waters.

Friday, March 27th 2015 - 08:07 UTC

Petrobras engineering firm contractor files for bankruptcy

Grupo Galvao is one of the first to break under the strain of canceled projects and suspended payments as a result of the broad police probe into Petrobras

Brazilian engineering firm Galvao Engenharia said on Wednesday it filed for bankruptcy protection, as state-run oil company Petrobras cut off payments due to a broad corruption scandal in which it had been implicated.

Friday, March 27th 2015 - 07:52 UTC

International summit on oil and gas potential in Uruguay next June

 “The Summit will highlight the country’s activities, unveil its potential and facilitate much needed networking for the industry”, said Hector de Santa Ana

Uruguay's oil and gas Government owned company, ANCAP, will join senior level delegation from international oil and gas operators on 11-12 June 2015 in Montevideo to analyze the potential of a region that has experienced significant advances since 2009.

Wednesday, March 25th 2015 - 07:07 UTC

Falklands' economy performance impressive, although volatile and vulnerable

Oil was discovered in 2010 on the Sea Lion field and production for the world markets is currently planned for 2019.

The Falkland Islands economy has witnessed impressive, although volatile, growth in recent years with unemployment rates low enough to be the envy of most countries in the world and the government is free of debt, according to the latest “State of the Economy” released by the Falklands Policy Unit.

Monday, March 23rd 2015 - 17:13 UTC

Petrobras corruption scandal reaches New York court: banks will have to explain sale of bonds to US investors

 Itau and Bradesco were book runners on a number of Petrobras bond issues.

Fifteen banks will join Petrobras next week, April 3, in a New York court to explain how they did nothing wrong when selling 98 billion dollars worth of the Brazilian state oil company’s bonds to American investors. Of the 15, lawyers representing the investment banking divisions of Itau and Bradesco will appear before New York judge Jed Rakoff in hopes to escape the scandal.

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