Energy & Oil

Energy & Oil
Wednesday, November 12th 2014 - 07:10 UTC

World largest offshore drilling fleet admits slowdown in oversupplied rig market

The recent slide in oil prices has weighed on demand for offshore services as oil and gas producers cut costs

Transocean Ltd, the owner of the world's largest offshore drilling fleet, said it was likely to retire additional rigs as the company continued to face pressure due to slowdown in an oversupplied rig market.

Wednesday, November 12th 2014 - 06:42 UTC

Petrobras Argentina plans to invest 622m dollars to explore for shale gas

Petrobras Argentina expects to drill 44 wells at depths of up to 4,000 meters in Neuquen's Punta Rosada formation, Cabinet chief Jorge Capitanich

The Argentine unit of Brazilian state-controlled oil giant Petrobras plans to invest 622 million dollars to explore for non-conventional natural gas in Neuquen, the Argentine government announced on Monday.

Tuesday, November 11th 2014 - 04:34 UTC

Minister Swire underlines business opportunities for UK companies in Paraguay

Swire recalled British engineers helped transform Paraguay into one of the leading industrial powers in the region: railways, shipyards, a foundry and an arsenal.

UK Minister for Latin America, Hugo Swire, spoke of the growing presence of UK in Latin America and more specifically on the expanding links with Paraguay. Minister Swire said UK was determined to deepen its commercial ties with a rising Latin America and described Paraguay as a perfect trade and investment partner for UK, particularly since British oil industry has struck oil in the Chaco region.

Monday, November 10th 2014 - 07:34 UTC

Latam Energy Organization approves statement on “Malvinas sovereignty”

OLADE was created in 1973 and has been ratified by 27 countries of the Latin America and the Caribbean, and there is an annual ministerial meeting.

Energy ministers from the Latin American Energy Organization, OLADE, meeting in San Salvador approved last Friday a statement on “Malvinas Islands sovereignty” referred to the “illegal hydrocarbons exploration and exploitation undertaken in the Islands surrounding waters”, points out a release from the Argentine Foreign ministry.

Saturday, November 8th 2014 - 09:37 UTC

Relief for Petrobras: Dilma allows increase in gasoline and diesel prices

The cost of gasoline at the refinery gate rose 3% and diesel 5% midnight (0200 GMT) Friday, Petrobras said in a statement.

Brazil raised domestic wholesale gasoline and diesel prices for the first time in more than 11 months effective Friday in a move to bolster the finances of the heavily indebted Petrobras oil and gas company after years of refining losses.

Thursday, November 6th 2014 - 21:50 UTC

Falklands oil industry regulated by UK North Sea standards, one of the highest in the world

MLA Roger Edwards in a letter to The Guardian said that Filmus statement is 'yet another futile example of the Argentine Government’s futile efforts to damage the Falklands economy'

The elected government of the Falkland Islands has strongly refuted remarks by Argentine official 'Malvinas Secretary' Daniel Filmus, published in The Guardian, in which he states that hydrocarbons activities in the Falklands are environmentally reckless, and describes Filmus words as “yet another example of the Argentine's government futile efforts to damage the Falklands economy”

Thursday, November 6th 2014 - 07:52 UTC

YPF manages significant increases in output and profits in the third quarter

“We are meeting our goals and continue to show results that line up with our plan for the next five years,” said YPF CEO Miguel Galuccio.

Argentina's state-controlled oil firm YPF hydrocarbons' production in the third quarter increased by 15.4% from a year earlier to 573,000 b/d of oil equivalent (boe/d). The rise in production translates into a 13.9% increase from a year earlier for the first nine months of the year to 553,000 boe/d.

Wednesday, November 5th 2014 - 06:43 UTC

The end of an era: Is the US petrodollar under threat?

China and Russia have been furiously signing energy deals: the most obvious is the $456 billion gas deal that Russian Gazprom signed with China in May

Recent trade deals and high-level cooperation between Russia and China have set off alarm bells in the West as policymakers and oil and gas executives watch the balance of power in global energy markets shift to the East.

Tuesday, November 4th 2014 - 05:05 UTC

Falklands have a per capita GDP “ten times higher than Argentina”

According to the Yearbook in the last five years the Islands' GDP has expanded 11% per year until 2012 and an even higher percentage can be expected for 2013

Argentina's financial daily, El Cronista Comercial has published two articles on the Falkland Islands based on data from the 2014 Statistical Yearbook stating that the Islands enjoy a GDP per capita several times higher than Argentina and that the economy has been expanding at 11% annually since 2008.

Friday, October 31st 2014 - 07:51 UTC

Argentina approves new hydrocarbons bill to attract foreign investments

Argentine urgently needs an inflow of funds to develop its massive Vaca Muerta shale oil and gas deposits and lower its hefty energy-import bill.

Argentina's lower house of Congress, which is controlled by President Cristina Fernandez's allies, gave final approval Thursday for a new Hydrocarbons Law that was harshly criticized by opposition lawmakers. The lower house passed the bill with a vote of 130-116 with one abstention after more than 14 hours of debate.

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!