Energy & Oil

Energy & Oil
Friday, October 3rd 2014 - 06:38 UTC

Bank of England wants new powers to prevent a housing 'boom and bust'

Osborne promised that the Bank's powers to “recommend” would be beefed up to powers to “direct”, in order to prevent a dangerous bubble developing.

The Bank of England has asked formally for new powers to prevent a housing boom and bust. Under the powers, the Bank would be able to limit how much people can borrow to buy a home, according to their financial circumstances.

Wednesday, October 1st 2014 - 08:00 UTC

Falklands' 2015 oil drilling program to include Borders & Southern

“Our objective is to reach a conclusion so that we can participate in the 2015 Falklands drilling program with the other companies”, said CEO Howard Obee.

Borders & Southern Petroleum PLC said it will join a Falkland Islands drilling consortium so it can participate in the 2015 drilling program on the Islands, as soon as partnering and funding has been secured for its licenses.

Tuesday, September 30th 2014 - 22:01 UTC

Fed up with US federal inaction, states act alone on Cap-and-Trade

Quebec Premier Couillard said they were working hard to recruit new partners: with a couple of western states, Ontario, and some New England partners

Unsatisfied with the pace at which the federal government is acting to reduce greenhouse gas emissions, several U.S. states and a few Canadian provinces are forging ahead with their own initiatives.

Wednesday, September 24th 2014 - 15:55 UTC

Argentia economic situation can become 'harmful' for the region says Moody's

“Inflation, high interest rates and recession have forced Argentine consumers to cut expenses, which can impact negatively on the region

Credit ratings agency Moody's Investors Service has warned about the Argentine situation which can become “harmful” for Latin America, stating that the country's economy is in “decline” and qualifying current policies as “highly risky.”

Wednesday, September 24th 2014 - 15:50 UTC

WTO lowers global goods trade growth for this year and 2015

Tensions over Ukraine, a deepening Middle East conflict and increased panic caused by the Ebola outbreak have all clouded the forecast, the WTO said.

Global goods trade will grow less than hoped this year and next, and factors including regional conflicts and the Ebola outbreak are putting a quick return to stronger growth at risk, the World Trade Organization said today.

Saturday, September 20th 2014 - 00:04 UTC

Why China's insatiable appetite for coal has likely peaked

“We will resolutely declare war against pollution as we declared war against poverty,” Premier Li Keqiang said in March.

A recent report from Greenpeace found that China's coal consumption declined in the first half of this year and new Chinese government data suggests that the country's coal imports have dropped. Estimates indicate that by the end of the year, China's coal imports could be 8 percent below 2013 levels.

Thursday, September 18th 2014 - 06:25 UTC

Developing oil field Libra off Brazil will cost 80bn dollars said France's Total

Libra, the first of Brazil's pre-salt fields to have been auctioned off, holds reserves estimated at between 8-12 billion barrels of recoverable crude

Brazil's biggest oil field, Libra, will cost 80 billion dollars to develop, according to a senior executive with France's Total, one of five consortium members participating in the project. Total's vice president of exploration and production for the Americas, Ladislas Paszkiewicz, made the estimate at the Rio Oil & Gas conference, which began Monday and runs through Thursday.

Thursday, September 18th 2014 - 05:03 UTC

Falklands oil company is ready to begin drilling at the end of 2015 first quarter

In all, FOGL expects to take part in a five-well drilling program that will target more than 1.3 billion barrels of oil off the Falkland Islands

Falkland Oil and Gas Limited (FOGL) reported this week that it is making progress with its preparations for its next drilling campaign, which is scheduled to start during the first quarter of 2015 off the South Atlantic Falklands Islands.

Wednesday, September 17th 2014 - 04:02 UTC

Brazil will hold new round of oil right auctions in the first half of 2015

The sale will be the first auction of concession rights since 2013 and third since 2008, when government halted annual oil-rights auctions to re-write its oil law

Brazil will hold a 13th round of oil rights auctions in the first half of next year in a sale that will include new areas in the country's promising Eastern Margin offshore region, a senior mines and energy ministry official said this week.

Monday, September 15th 2014 - 05:11 UTC

Gas prices must increase to sustain strong investment levels, says YPF Galuccio

“If gas prices did not increase we would be bankrupt,” Galuccio said in an interview justifying sustained increases along the year

Argentina's YPF oil and gas state corporation CEO Miguel Galuccio pointed out that the increase in gas prices is needed in order to sustain “strong investment levels” for the company and revealed that the cost of drilling a well in the country's massive oil field in Vaca Muerta has fallen below 7 million dollars.

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