Energy & Oil

Energy & Oil
Friday, December 5th 2014 - 06:50 UTC

Could falling oil prices spark a financial crisis?

Junk-bond debt in energy has reached 210 billion, which is about 16% of the 1.3 trillion dollars junk-bond market

The oil and gas boom in the United States was made possible by the extensive credit afforded to drillers. Not only has financing come from company shareholders and traditional banks, but hundreds of billions of dollars have also come from junk-bond investors looking for high returns.

Thursday, December 4th 2014 - 05:51 UTC

Falling oil prices comes as a blessing for dollar-short Argentina

“The fall in prices is going to reduce the burden on the state’s fuel purchases from abroad,” Kicillof said on the sidelines of a business conference.

The slump in global oil prices will reduce Argentina's energy import bill by several billion dollars, a development that could ease pressure on the Central Bank’s strained foreign-currency reserves, according to Economy minister Axel Kicillof.

Wednesday, December 3rd 2014 - 09:25 UTC

Russian ruble suffers its biggest one day skid since 1998

Russia is the world's second-largest oil exporter, with oil and gas accounting for 70% of its exports and half of government revenues.

The Russian ruble suffered on Tuesday its biggest one-day decline since 1998 as oil prices continued to fall on Monday, escalating fears about the Russian economy. The currency slid almost 9% against the dollar before rallying after suspected central bank intervention.

Friday, November 28th 2014 - 06:23 UTC

Oil price plunges as OPEC decides against cutting output despite world glut

The cartel, whose largest producer and exporter is Saudi Arabia, will meet again in June next year, said an OPEC delegate.

Brent and US crude oil plunged as much as 6.50 dollars a barrel on Thursday, the steepest one-day falls since 2011 following on OPEC's decision against cutting output despite a huge oversupply in world markets.

Friday, November 28th 2014 - 06:13 UTC

Petrobras agrees to appoint a “governance, risk management and compliance” director

The creation of this new position will not increase the number of Board Members, since it will replace that of International Executive director.

Brazil's oil and gas giant Petrobras (and currently immersed in a major corruption scandal) has decided the appointment of a director of governance, risk management and compliance mainly to ensure risk mitigation and ensure the repeat of situations of fraud and corruption, according to a release from the corporation.

Wednesday, November 26th 2014 - 06:48 UTC

Follow the sand to the real fracking boom

This all puts frac sand in the drivers’ seat of the next phase of the American oil boom, and it has already seen its price increase up to 20% over the past year

When it takes up to four million pounds of sand to frack a single well, it’s no wonder that demand is outpacing supply and frack sand producers are becoming the biggest behind-the-scenes beneficiaries of the American oil and gas boom.

Tuesday, November 25th 2014 - 22:59 UTC

Falklands experience in energy projects attracts strong interest in Latam conference and Chile

Engineer Glenn Ross was a special guest speaker at the renewable energy conference, RELACCX held last week in Puerto Rico

The Falkland Islands experience in implementing energy projects, both conventional and wind farms was shared with the attendants of the recent RELACCX (Renewable Energy Latin America and Caribbean Conference and Exhibition) event, held in Puerto Rico, and where Falklands' engineer Glenn Ross was an invited speaker.

Monday, November 24th 2014 - 10:26 UTC

Largest crane ship capable of lifting oil rigs delivered in Korea

The vessel is 124m wide and 382m long, as long as the Empire State Building is high. Designed to assist offshore oil rigs, it cost around 2.97bn dollars to build.

The world's largest crane ship, which is capable of lifting oil rigs, has set sail from its shipyard in South Korea for Rotterdam Port in the Netherlands. The Pieter Schelte, which left South Korea last week is due to arrive at the port for completion in December.

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.


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