Energy & Oil

Energy & Oil
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.

Thursday, January 23rd 2014 - 21:26 UTC

Panama Canal expansion will be completed in 2015 “no matter what”, says minister

The overall canal upgrade was supposed to cost 5.2 billion and finished this year

Work to enlarge the Panama Canal will be completed in 2015 no matter what, Panamanian Finance Minister Frank De Lima said on Wednesday, despite the continuing feud over cost overruns with contractor GUPC. The Panama Canal authority “has strongly affirmed that the canal would be complete in 2015, with or without” the GUPC consortium, the minister told the media on the sidelines of the World Economic Forum in Davos.

Monday, January 20th 2014 - 22:04 UTC

Rockhopper finance director steps down but will remain as a consultant

 Peter Dixon-Clarke

Falkland Islands oil and gas exploration company, Rockhopper Exploration confirmed Monday that its finance director, Peter Dixon-Clarke, plans to step down from his position in early 2014.

Friday, January 17th 2014 - 07:57 UTC

Falklands oil companies agree on tension leg platform for development of Sea Lion field

Rockhopper discovered oil in Falklands waters in April/May 2010. The Tension Leg Platform should be operational in three years

The Tension Leg Platform option is the most suitable technical and commercial solution for the development of the Falklands' Sea Lion field, according to the recommendation from field operator Premier Oil, said Rockhopper Exploration in an official release, which also announced further drilling is expected in the next twelve months.

Friday, January 17th 2014 - 07:54 UTC

Falklands Sea Lion in 'the mid to longer term projects' of Premier Oil

Premier Oil CEO Simon Lockett said “2013 was a challenging year”

UK independent Premier Oil reported Thursday that its production rate peaked at 75,000 barrels of oil equivalent per day during December, when the average rate was 69,000 boepd. Premier said that average production for 2013 as a whole was 58,200 boepd, compared to an average rate of 57,700 boepd for 2012.

Friday, January 17th 2014 - 07:45 UTC

US consumer inflation in December, 0.3% and in twelve months 1.5%

Fuel prices soared 3.1% in December

US consumer inflation spiked in December, driven higher by rising fuel prices. The consumer price index rose 0.3% on a seasonally adjusted basis, the US Labor Department said.

Wednesday, January 15th 2014 - 07:11 UTC

New EPA rule requires chemical disclosure for offshore fracking

Governor Jerry Brown does not support a ban on fracking and insists the new law is rigorous.

By. Nick Cunningham of Oilprice.com - The U.S. Environmental Protection Agency published a rule on January 9, 2014 requiring oil and gas companies using hydraulic fracturing off the coast of California to disclose the chemicals they discharge into the ocean. Oil and gas companies have been fracking offshore California for perhaps as long as two decades, but they largely flew under the radar until recently.

Tuesday, January 14th 2014 - 07:23 UTC

Prison sentences for those who drill for oil in Malvinas waters, warns Argentina

 “We will go to the international courts” promised Filmus head of Malvinas Secretariat

”Argentina will defend its claim” over the Malvinas Islands and companies drilling for oil off the coast of the contested resource-rich archipelago “will not only face administrative consequences but also prison sentences” warned Daniel Filmus, head of Argentina's recently created Malvinas Islands Secretariat, in an interview with The Guardian.

Friday, January 10th 2014 - 06:46 UTC

Falklands oil industry will have its 'Made in USA' dock facility in Stanley harbor

The location of the 400x100 feet floating dock would be to the east of FIPASS

The Falkland Islands budding oil and gas industry advanced a further step this week when the Falklands' Planning and Building Committee gave planning permission to a temporary dock facility (TDF) in Stanley harbor that will provide logistics support to exploration drilling.

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