Energy & Oil

Energy & Oil
Tuesday, June 16th 2015 - 05:13 UTC

Gas leak forces Petrobras to halt production at offshore platform: second incident in a month

The P-40, located about 175 kilometers off the coast of Rio de Janeiro state, is at the hub of a network of five platforms in Marlim Sul

Brazil's Petrobras halted production on Sunday from its P-40 platform in the offshore Marlim Sul field after a gas leak on the vessel, an oil workers' union and the country's petroleum regulator said on Monday.

Tuesday, June 16th 2015 - 00:40 UTC

Falklands' rig drilling to the south east of the Islands at Humpback prospect

This is the third out of six wells to be drilled during the current exploratory round

Falkland Oil & Gas Ltd. said on Monday that drilling had started at the Humpback exploration well off the south-east coast of the Falkland Islands. The spudding of the well actually took place last Saturday.

Monday, June 15th 2015 - 04:53 UTC

UK High Commissioner dismisses Venezuela's (oily) claim on Guyana's maritime front

 “UK is clear that the Venezuela-Guyana land border is, and should be, as agreed under the 1899 Arbitration Agreement”, said Commissioner Quinn

British High Commissioner to Guyana, James Gregory Quinn has dismissed Venezuela’s most recent claim on Guyana’s oil rich Essequibo Coast, stating that it lacks solid grounds. Venezuela’s President Nicholas Maduro on May 27 signed a decree that now claims an entire portion of Guyana’s territory into the Atlantic Ocean and includes the Stabroek Block where a significant portion of oil was recently discovered by US oil giant, ExxonMobil.

Friday, June 12th 2015 - 06:14 UTC

Guyana turning to United Nations to address Venezuela's territorial ambition

Besides the UN, Greenidge said Guyana has been in contact with members of the international community, as well as Caribbean and Commonwealth states

Guyana is turning to the United Nations to reach a legal settlement in its border dispute with Venezuela, describing Caracas’ claim of a portion of maritime space where oil was recently discovered as “a baseless and shameless attempt” at usurping Guyana’s territory.

Monday, June 8th 2015 - 08:32 UTC

YPF strikes shale gas in Vaca Muerta; initial production 43.000 m3day

The find, in the Patagonian province of Neuquen, suggests there is likely much more gas in the vast but barely tapped Vaca Muerta field, YPF said.

Argentina's government managed energy company YPF said on Sunday that it turned up a new promising shale gas deposit in its giant Vaca Muerta field in the south of the country.The find, in the Patagonian province of Neuquen, suggests there is likely much more gas in the vast but barely tapped Vaca Muerta field, YPF said.

Saturday, June 6th 2015 - 09:46 UTC

Falklands oil companies planning to continue drilling into next year

“I can't go to Argentina and nearby countries. But operationally, this has no effect,” Tim Bushell, Falkland Oil and Gas chief executive, said.

Falkland Oil and Gas plans to continue drilling into next year, its chief executive said, defying legal threats made by the Argentine government against oil explorers in the Falkland Islands.

Saturday, June 6th 2015 - 09:39 UTC

Environmental groups lobbying to derail Shell drilling for oil in the Arctic

The Sierra Club and nine other groups sought to overturn the US decision in a petition with the San Francisco 9th U.S. Circuit Court of Appeals this week.

Environmental groups and organizations are lobbying to derail Royal Dutch Shell PLC's plan to drill in the Arctic Ocean as soon as July. The Bureau of Ocean Energy Management, an agency within the U.S. Department of the Interior, gave conditional approval in May to Shell's resumption of fossil fuel exploration in the Arctic, which was paused after a mishap-filled 2012 season.

Saturday, June 6th 2015 - 08:11 UTC

OPEC holds production at 30 million bpd; markets react with volatility

West Texas Intermediate, or light sweet crude, was similarly indecisive, falling before recovering to about $58.9 a barrel, up 1.4%. Oil prices had fallen 5% over the previous two sessions.  Investors

Crude oil prices were volatile after ministers from the Opec cartel decided to hold production levels at 30 million barrels per day. Brent crude traded in a narrow range around $62 a barrel, before ending the day up 1.8% at $63.15.

Friday, June 5th 2015 - 09:23 UTC

The evolution of the oil weapon

After the 1973 embargo, Nixon approached Saudi Arabia with a proposed deal to ensure that a repeat of such an embargo would never happen to the US

In the age of derivatives, swaps, and electronic money transfers, a new form of warfare has emerged: financial warfare. Recently, the US has passed sanctions on countries such as Syria, Venezuela and North Korea, but the majority of energy related sanctions passed have been targeted at Iran and Russia.

Wednesday, June 3rd 2015 - 09:24 UTC

Falklands advances despite Argentine disruption and blockade efforts, says Acting Governor Sandra Tyler-Haywood

“These are exciting times for the Falkland Islands. The past year has seen significant developments in many areas”, said Acting Governor Sandra Tyler Haywood

Falkland Islands' Her Honour the Acting Governor delivered on Tuesday his State of the Nation speech to the elected Legislative Assembly underlining progress and expansion achieved in the economy and community development, the UK resolute in defending the rights and wishes of the Falkland Islanders to develop their own natural resources, and despite Argentine disruption and blockade efforts, first oil is expected to be produced in 2019.

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