Energy & OilEnergy & Oil
With the help from shale oil, the United States is the world's largest producer of oil in 2013, according to data presented at PIRA Energy Group's recent Retainer Client Seminar held in New York City.
Premier Oil, which has a farm in agreement with Falkland Islands Rockhopper Exploration, is buying into an exploration project in Kenya, by farming into onshore Block 2B.
Chevron Corp will try to convince a US judge that a group of Ecuadorean villagers and their US lawyer used bribery to win a 18 billion dollars judgment against Chevron from a court in Ecuador, in the latest chapter in a long-running fight over pollution in the Amazon jungle.
China has knocked the US from its top spot as the world's biggest net importer of oil, US government data shows. The country's fast-growing economy, as well as the rise in car sales, has led to its new status, according to September's data. Oil consumption in China had outstripped production by 6.3 million barrels a day, said the Energy Information Administration (EIA). In the US, the figure was 6.1 million.
Guyana says the Venezuelan navy has entered its territorial waters and detained a US-operated ship. The government said the Venezuelan actions in the disputed Essequibo region constituted a serious threat to peace in the region.
From Kurdistan to Somaliland, for independent oil companies, getting your hands on new exploration acreage where both technical risk and political risk are low is impossible. Exploring for oil and gas in new frontiers is all about striking the right balance between geological potential and political risk. Take it from Anglo-Turkish Genel Energy, the largest producer in the Kurdistan Region of Iraq (KRI), where it seems nothing can shake investor confidence right now.
Gunmen this week seized Libyan Prime Minister Ali Zeidan from a hotel in central Tripoli, releasing him shortly afterwards, but making it clear that post-Gaddafi Libya is a failed state and that the government is incapable of taking full control over its oilfields and export terminals
Petrobras CEO Maria das Gracas Foster described as ‘simply exceptional’ the latest discovery of hydrocarbons off the coast of the north-eastern state of Sergipe on the Atlantic but declined to give further details of the prospect. Even when the Brazilian administration has abstained from making any announcement the Sergipe government has said “it is the largest oil discovery in the world this year”.
French energy giant Total signed on Tuesday a deal with Uruguay’s oil company Ancap to search for oil in the northern counties of Artigas and Salto in an area of 6.200 square kilometres.
Brazil is limiting Chinese state-controlled oil companies to joint bids to develop its largest offshore oil discovery, amid concerns the players could share data and reduce competition ahead of the 21 October auction, said Brazilian officials.