Energy & Oil

Energy & Oil
Friday, February 7th 2014 - 06:52 UTC

Falklands oil industry: Premier ratifies its commitment to develop Sea Lion

Premier's Falkland Islands director Neil Hawkings expects engineering estimates for the fourth quarter of the year

Britain's Premier Oil said it was seeking a partner for an oil development in the Falkland Islands in order to reduce its exposure to the 5.2 billion dollar project and make higher payouts to shareholders.

Thursday, February 6th 2014 - 05:22 UTC

BP warns of 'big uncertainties' over possibility of Scotland becoming independent

However CEO Dudley emphasized the firm was continuing to invest in Scotland

Oil giant BP boss Bob Dudley has warned there are “big uncertainties” for the company over the possibility of Scotland becoming independent. Mr Dudley told the BBC the “question mark” over which currency Scotland might adopt if there was a 'yes' vote in September's referendum was “a concern”.

Wednesday, February 5th 2014 - 22:59 UTC

US, the world's largest producer of oil approves licenses to export crude to Europe

According to Reuters BIS authorized licenses to the UK and Italy and another for Germany is in the pipeline

The United States government has approved at least four licenses to export crude oil to Europe, for the first time in years, showing how companies are breaking through the limits of the export ban established in the 1970s, according to Reuters which learned about the fact from a Freedom of Information Act request.

Wednesday, February 5th 2014 - 08:21 UTC

Falklands' oil industry developer Premier CEO steps down

Simon Lockett will help find a successor

Shares in UK's Premier Oil, which has interests in developing Falkland Islands oil, soared almost 9% on Tuesday despite news that its chief executive is to step down after nine years at the helm. Simon Lockett will leave his position and the board of Premier once a successor has been appointed.

Tuesday, February 4th 2014 - 08:47 UTC

YPF buys a Petrobras Neuquén/Mendoza block with production of 10.000bpd

YPF CEO Miguel Galuccio has the task of cutting Argentina's energy import bill

Argentina oil company YPF has bought out Brazil player Petrobras to take over full ownership of an exploration block in Neuquen and Mendoza provinces. YPF agreed to pay 40.7 million dollars for Petrobras' operatorship and 38.45% stake in the Puesto Hernandez block, cutting short a joint venture due to expire in 2016, according to the Argentina explorer.

Friday, January 31st 2014 - 06:29 UTC

Bad times for Shell: suspends drilling offshore Alaska and profits plunge

Chief executive Ben van Beurden expressed regret at the situation.

Royal Dutch Shell will suspend drilling in offshore Alaska following an adverse US court decision and as the oil major streamlines operations because of a slump in annual profits, the company said on Thursday.

Thursday, January 30th 2014 - 06:46 UTC

Argentina's YPF wooing Malaysia Petronas to develop shale deposits

CEO Galuccio is in Kuala Lumpur to meet Petronas chief

Argentina oil company YPF is courting Malaysia's Petronas as a possible partner to develop the promising Vaca Muerta shale, according to reports. YPF chief executive Miguel Galuccio was in Kuala Lumpur for a meeting on Wednesday with Petronas leader Tan Sri Dato Shamsul Azhar Abbas, the La Nacion newspaper reported.

Tuesday, January 28th 2014 - 05:17 UTC

Market disruptor: nuclear restarts spells trouble for LNG

There is a world boom in LNG because of the Japanese demand

By Nick Cunningham of Oilprice.com - There are two major factors that have emerged in the last five years that have sparked a surge in LNG investments. First is the shale gas “revolution” in the United States, which allowed the U.S. to vault to the top spot in the world for natural gas production.

Sunday, January 26th 2014 - 02:27 UTC

Four Wells planned by Rockhopper for 2014

ROCKHOPPER Exploration has identified four wells it plans to drill in the upcoming 2014-2015 drilling campaign in the Falkland Islands.

Friday, January 24th 2014 - 02:15 UTC

Argentina: in chaotic trading dollar jumps 12.4% in one day to 8 Pesos in the official market

The central bank lost another 180 million dollars in reserves

In a day of chaotic trading the Argentine Peso on Thursday again plummeted against the US dollar losing 12.4% of its value in the official market, ending the day at just over 8 Pesos. In earlier operations the dollar was selling at 8,31 Pesos until the Central bank decided to intervene helping to cool the market.

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