Energy & Oil

Energy & Oil
Wednesday, September 17th 2014 - 04:02 UTC

Brazil will hold new round of oil right auctions in the first half of 2015

The sale will be the first auction of concession rights since 2013 and third since 2008, when government halted annual oil-rights auctions to re-write its oil law

Brazil will hold a 13th round of oil rights auctions in the first half of next year in a sale that will include new areas in the country's promising Eastern Margin offshore region, a senior mines and energy ministry official said this week.

Monday, September 15th 2014 - 05:11 UTC

Gas prices must increase to sustain strong investment levels, says YPF Galuccio

“If gas prices did not increase we would be bankrupt,” Galuccio said in an interview justifying sustained increases along the year

Argentina's YPF oil and gas state corporation CEO Miguel Galuccio pointed out that the increase in gas prices is needed in order to sustain “strong investment levels” for the company and revealed that the cost of drilling a well in the country's massive oil field in Vaca Muerta has fallen below 7 million dollars.

Thursday, September 11th 2014 - 05:14 UTC

Islamic State's ultimate goal: Saudi Arabia's oil wells

IS knows that first is to capture and secure the most important country in the Muslim world: Saudi Arabia.

For the terrorist group known as the Islamic State, Syria and Iraq were a good place to start their campaign, but in order to survive and prosper it knew from the outset that it had no choice but to set its sights on the ultimate prize: the oil fields of Saudi Arabia.

Friday, September 5th 2014 - 03:28 UTC

Falklands' GDP 'volatile' because of fisheries and oil and gas exploration

Oil industry activities input to the Falklands economy in 2012 meant the per capita GDP soared to £77.4 thousand for 2012.

Recently released data shows that the Falkland Islands Gross Domestic Product (GDP) continues to be volatile: expanding considerably during some years and shrinking in others. For example, 2012, a year of intense hydrocarbons activity the per capita for a population of 2.562, in the books soared to £77.400.

Thursday, September 4th 2014 - 05:20 UTC

Argentina's dispute with holdouts “will not affect” Chinese investments, says Beijing

The Argentine delegation with their counterparts signing the documents to fund the nuclear power plant Atucha III

The current legal dispute between Argentina and holdouts (“vulture funds”) suing the country over its defaulted bonds “will not affect” planned Chinese investments, since Argentina and China have a 'strategic association', the head of the National Commission of Development and Reform (CNDR) of China Xu Shaoshi, warned on Wednesday.

Wednesday, September 3rd 2014 - 22:05 UTC

Soros signals Argentina’s shale is biggest place to be

Soros’ move suggests he is not focusing on the short-term problems facing Argentina, but believes that the geological fundamentals are more important.

One of the world’s legendary investors is upping his bet on Argentina’s shale oil and gas industry in a show of confidence for shale production in South America’s largest unconventional prize —and a big boost for both super-majors and smaller players making big waves in the heart of new discovery areas.

Tuesday, September 2nd 2014 - 20:01 UTC

Why the debate over energy storage utterly misses the point

Last year the University of Illinois announced the creation of a new lithium-ion battery that is “2,000 times more powerful than comparable batteries”

The debate over which energy storage technology will prove to be the best in the long-term is woefully misguided. Many technologies have been tested in the field or been fully installed, but their real-world applications have created constant questions around a number of fixed themes: the three-points concern cost, technology, and potential environmental impact, as well as the need for specific regulation and end-of-life management.

Tuesday, September 2nd 2014 - 00:18 UTC

Ukraine's Next Crisis? Economic disaster

 The Ukrainian military's showdown with separatists in the industrial east has forced coal mines to severely cut production or close down entirely

Ukraine's next crisis will be a devastatingly economic one, as violent conflict destroys critical infrastructure in the east and brings key industry to a halt, furthering weakening the energy sector by crippling coal-based electricity production.

Saturday, August 30th 2014 - 07:54 UTC

Chile's oil corporation plans to pad drill 55 wells for gas in Tierra del Fuego

ENAP current production of gas in 450.000 cubic meters per day

Chile's petroleum corporation, ENAP, is planning to drill 55 non conventional new wells in Tierra del Fuego beginning September until the end of 2015, with the purpose of increasing the current production from 450.000 cubic meters per day to a million cubic meters of 'tight' gas.

Saturday, August 30th 2014 - 07:10 UTC

Venezuela cheap oil and fuel shipments to allies fall to a five-year low

The accords that former president Hugo Chavez struck to lower energy costs for friends and expand his diplomatic clout, are not being fully complied .

Venezuela’s shipments of crude oil and fuel to its allies have fallen to a five-year low as a weak economy hits its ability to uphold accords that former president Hugo Chávez struck to lower energy costs for friends and expand his diplomatic clout.

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