Energy & OilEnergy & Oil
The Tension Leg Platform option is the most suitable technical and commercial solution for the development of the Falklands' Sea Lion field, according to the recommendation from field operator Premier Oil, said Rockhopper Exploration in an official release, which also announced further drilling is expected in the next twelve months.
UK independent Premier Oil reported Thursday that its production rate peaked at 75,000 barrels of oil equivalent per day during December, when the average rate was 69,000 boepd. Premier said that average production for 2013 as a whole was 58,200 boepd, compared to an average rate of 57,700 boepd for 2012.
US consumer inflation spiked in December, driven higher by rising fuel prices. The consumer price index rose 0.3% on a seasonally adjusted basis, the US Labor Department said.
By. Nick Cunningham of Oilprice.com - The U.S. Environmental Protection Agency published a rule on January 9, 2014 requiring oil and gas companies using hydraulic fracturing off the coast of California to disclose the chemicals they discharge into the ocean. Oil and gas companies have been fracking offshore California for perhaps as long as two decades, but they largely flew under the radar until recently.
”Argentina will defend its claim” over the Malvinas Islands and companies drilling for oil off the coast of the contested resource-rich archipelago “will not only face administrative consequences but also prison sentences” warned Daniel Filmus, head of Argentina's recently created Malvinas Islands Secretariat, in an interview with The Guardian.
The Falkland Islands budding oil and gas industry advanced a further step this week when the Falklands' Planning and Building Committee gave planning permission to a temporary dock facility (TDF) in Stanley harbor that will provide logistics support to exploration drilling.
By Nicholas Cunningham - A wave of violence has swept parts of Iraq at the start of 2014 as the central government fights back against Al-Qaeda aligned militants in Anbar Province. The Islamic State of Iraq and the Levant (ISIL) reportedly took control of Ramadi and Fallujah, bombing police headquarters and killing dozens.
Germany's Wintershall signed on Tuesday a farm-in contract with the Argentine Patagonia province of Neuquén to explore Vaca Muerta’s shale gas and oil field. Under the terms of the joint-venture agreement Wintershall together with Gas & Petroleo de Neuquen will explore and develop the Aguada Federal block and are committed to invest 80 million Euros.
Taking as reference the ratio between the average salary and the price of gasoline in six Latam countries, Mexican and Argentine consumers are the better off when it comes to filling up the tank while for Uruguay and Colombia the ratio is the least favorable.
Successful trade missions to Uruguay and Chile and the growing support and know-how links with Scotland for the development of the Falkland Islands oil and gas industry were mentioned as some of the 2013 highlights by Roger Spink, president of the Falklands Chamber of Commerce in his Christmas speech.