Energy & Oil

Energy & Oil
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.

Friday, January 24th 2014 - 02:09 UTC

Argentine 2013 trade surplus down 27%, helping with the dollar shortage

 Energy and fuel imports make Argentina's trade balance most vulnerable

Argentina's trade balance during 2013 left of surplus of 9.24 billion dollars, 27% less than in the previous year (12.42bn), according to the latest release from the official stats office, indec. Exports in the past year grew by 3% to reach a value of 83bn dollars, while imports rose by 8% and totaled just over 74bn.

Thursday, January 23rd 2014 - 23:36 UTC

Argentina after Israeli fighter planes; concern in London and Brasilia, says defense expert

The deal involves 18 refurbished Kfir Block 60, a successful battle proven fighter

Argentina is considering the purchase from Israel of 18 multipurpose combat aircraft Kfir Block 60 after negotiations with Spain for 16 Mirage F1 fighter bombers fell through, according to a report from Buenos Aires daily Clarin.

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