Energy & Oil

Energy & Oil
Saturday, August 30th 2014 - 07:10 UTC

Venezuela cheap oil and fuel shipments to allies fall to a five-year low

The accords that former president Hugo Chavez struck to lower energy costs for friends and expand his diplomatic clout, are not being fully complied .

Venezuela’s shipments of crude oil and fuel to its allies have fallen to a five-year low as a weak economy hits its ability to uphold accords that former president Hugo Chávez struck to lower energy costs for friends and expand his diplomatic clout.

Saturday, August 30th 2014 - 06:41 UTC

Falklands Argos Resources oil explorer confident on its farm-out outlook

The company said its farm-out campaign has been strengthened by the contracting of the Eirik Raude deep water rig by Noble Energy and Premier Oil

Falkland Islands Argos Resources Ltd posted Friday a narrowed pre-tax loss for the first half, saying it is more confident on the outlook for its farm-out efforts following the recent contracting of the Eirik Raude deep water rig by Noble Energy Inc and Premier Oil PLC.

Friday, August 29th 2014 - 07:32 UTC

Malaysia Petronas joins YPF to develop shale-oil reserves in Argentina

More than 30 wells will be drilled in the pilot stage, which is scheduled for the first quarter of 2015, YPF said in a statement.

Argentine government controlled energy company YPF said on Thursday it signed a 550 million dollars agreement with Malaysia's Petronas to develop shale-oil reserves in the massive Vaca Muerta formation.

Friday, August 29th 2014 - 06:49 UTC

New technology could end the debate over pipeline safety

Despite advances smart pigs aren’t terribly accurate. Pipeline operations have to shut down and analyzing the data smart pigs gather can take some time

Who could have ever imagined that North America would surpass Saudi Arabia as the world’s largest producer of oil and natural gas liquids? A decade ago, that would have seemed laughable. Yet that’s exactly what has happened; and it’s not just Saudi Arabia that has been left in North America’s dust -- Russia has, too.

Tuesday, August 26th 2014 - 07:26 UTC

Falklands: Premier Oil confirms full commitment to Sea Lion project

Various operators in the Falklands, including Premier have secured a rig on a time-share basis for a rolling exploration/appraisal campaign next year (Pic S. Luxton)

Premier Oil has updated progress on the Sea Lion project, the first field development offshore the Falkland Islands. Latest subsurface studies suggest recoverable reserves for the Phase 1 development at 308 MMbbl, with further upside of 60 MMbbl if next year’s well on the Chatham prospect confirms that there is no gas cap in the western side of the field.

Tuesday, August 26th 2014 - 07:24 UTC

YPF strikes oil and gas in the Kirchner's province

“This discovery is the result of innovative works, and it once again honors the explorer DNA of YPF”, president Miguel Galuccio said

Argentina's petroleum company YPF announced the discovery of new gas and oil reserves in the province of Santa Cruz, with the potential to produce more than 200,000 cubic meters of gas and 370 barrels of oil per day at a depth of 2.770 meters.

Friday, August 22nd 2014 - 13:07 UTC

Unlikely bedfellows: mines that run on solar or wind power

 Brazil's Vale has formed a joint venture with Australian company Pacific Hydro to build and operate two wind farms in Brazil's northeast.

Mining companies are often seen as dinosaurs when it comes to making changes that will benefit the environment, but that perception may be shifting as some companies turn to renewable energy to cut costs and lighten their carbon footprint.

Friday, August 22nd 2014 - 00:08 UTC

Premier oil shows stronger than expected output in first half of the year

The company's four-well drilling program in the Falkland Islands, is expected to start in the second quarter of 2015.

Falkland Islands involved oil and gas explorer Premier Oil may upgrade its 2014 production forecast after stronger-than-expected output in the first half of the year, pending the outcome of summer maintenance work, its Chief Executive said. The company reported a 7% rise in first-half profit after tax on Thursday, helped by strong oil production from its British fields.

Tuesday, August 19th 2014 - 09:16 UTC

Falklands pricing for valuation of hydrocarbons will follow Norwegian model

 Financial Secretary Ms Granger said that the Falklands' oil legislation regime “is robust and encourages investment”

The Falkland Islands has an oil legislation regime that is robust and encourages investment, believes Financial Secretary Nicola Granger. Details of a law firm’s report to the Falkland Islands Government (FIG) on tax legislation in relation to the oil and gas industry, and recommendations to Government by Ms Granger, were released to the public this week in a paper that outlines the report from Freshfields Bruckhaus Deringer LLP.

Saturday, August 16th 2014 - 11:15 UTC

Billionaire Soros becomes the fourth largest holder of YPF shares

Soros Fund added 8.47 million YPF shares, said a regulatory filing, bringing its total position to 3.5% of the company’s American depositary receipts.

George Soros’s 28 billion family office boosted its stake in YPF SA, making Argentina’s largest oil company its biggest U.S.-traded stock holding in the second quarter. Soros Fund Management LLC added 8.47 million shares of YPF, according to a regulatory filing Thursday, bringing its total position to 3.5% of the company’s American depositary receipts.

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