Energy & Oil

Energy & Oil
Saturday, November 22nd 2014 - 06:47 UTC

Falklands construction booming: permission for second 80 bedroom hotel

The second 80 bedroom employees hotel will cater to the needs of the workers in the next oil exploration drilling round, including access and related services.

Building continues at a steady rate in the Falkland Islands with 15 applications approved for construction in the capital Stanley, including permission for an 80 bedroom employees hotel for oil exploration technical staff, according to the latest Planning and Building Committee meeting.

Friday, November 21st 2014 - 21:16 UTC

Falklands opens dock facility to support oil industry exploration beginning 2015

Ms. Cunningham is on her second visit to the Falklands, having first visited in March, before the dock “Nobel Frontier” arrived under tow from New Orleans (Pic Houston Ch)

This week Houston based Noble Energy, one of the several oil companies operating in the Falkland Islands made the official opening of the temporary dock facility (TDF) in Stanley, an essential piece for the logistics of the industry which is scheduled to begin another round of exploratory drilling in the first quarter of next year.

Friday, November 21st 2014 - 07:04 UTC

Iran negotiations, OPEC meeting loom for oil markets

“We will witness the sanctions shattering in the coming months,” Rouhani announced to a crowd in Teheran during a political rally

As November draws to a close, there are two major events that could profoundly change the oil markets. With the clock ticking, the 5 permanent members of the UN Security Council plus Germany (P5 plus 1) are negotiating down to the wire with Iran over its nuclear program.

Friday, November 21st 2014 - 06:59 UTC

Potential of US offshore oil and gas, according to American Petroleum Institute

Eastern Gulf of Mexico, the Pacific OCS and the Atlantic OCS are currently almost entirely off-limits to offshore oil and gas development

Two new studies released by the National Ocean Industries Association (NOIA) and the American Petroleum Institute (API) show significant potential added energy and economic benefits to the United States if the Eastern Gulf of Mexico and the Pacific outer continental shelf (OCS) were opened to offshore oil and natural gas development.

Wednesday, November 19th 2014 - 09:42 UTC

Chevron begins oil and gas production at Tubular Bells, in the Gulf of Mexico

“The deepwater Gulf of Mexico plays a significant part in our earnings and production growth” said George Kirkland, from Chevron Corporation.

Chevron Corporation announced on Tuesday that the Hess Corporation-operated Tubular Bells deepwater project, located in the U.S. Gulf of Mexico, has started crude oil and natural gas production. The field is located 217 km southeast of New Orleans, in approximately 1,310 m of water in the Mississippi Canyon area.

Monday, November 17th 2014 - 06:50 UTC

IEA says oil supplies may not keep up with demand

Global oil demand is expected to increase by 37% by 2040, with a dominant proportion of that coming from developing countries – i.e. China and India

Despite what appears to be a saturated oil market in 2014, oil producers around the world will struggle to meet rising demand over the next few decades.

Saturday, November 15th 2014 - 07:52 UTC

Something stinks in Petrobras: former director and leading contractors CEOs arrested on bribery charges

Renato Duque, a former Petrobras senior executive arrested in an investigation that allegedly skimmed billions of dollars off contracts and into political parties

Brazilian police arrested a former Petrobras executive on Friday, sending the state-run oil company's shares and bonds down after a widening corruption scandal forced it to delay the release of its financial results.

Friday, November 14th 2014 - 07:27 UTC

Falklands accepts Premier's 'realistic solution' to current world oil price environment

Stephen Luxton said FIG ”look forward to the existing productive working relationship continuing through project sanction to first oil production.”

The Falkland Islands Government said on Thursday it took notice of the announcement by Premier Oil of their revised proposal for commercial oil production in the Falkland Islands, which “it is considered represents a realistic solution to progress development in the current international oil price environment”.

Friday, November 14th 2014 - 07:13 UTC

Early signs of a pullback in drilling activity

Oil prices have dropped around 30% since summer highs, raising fears among producers across the globe

With oil prices low and showing no sign of an immediate rebound, the industry is beginning to pull back on spending. Oil prices have dropped around 30% since summer highs, raising fears among producers across the globe.

Thursday, November 13th 2014 - 05:44 UTC

Crude price falls to a three year low, created by shale boom and Libya restart

”Talk of a price war is a sign of misunderstanding, deliberate or otherwise, and has no basis in reality,'' Saudi Oil Minister Ali al-Naimi

West Texas Intermediate, WTI crude closed at a three-year low on Wednesday with prices under pressure from the growing oil glut created by the U.S. shale boom and the restart of Libya's largest operational oilfield.

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