Energy & OilEnergy & Oil
The US oil price fell below the symbolic threshold of $50 a barrel for the first time since April 2009, before finishing the day at $50.05. The price of Brent crude also fell on Monday, dipping 6% to $53 a barrel.
The British company Rockhopper Exploration, with interests in the Falkland Islands, has been awarded a licence to explore, together with Italy's Eni, a field for possible oil and gas exploitation in the central part of the Croatian Adriatic.
President Energy slumped by as much as a third on Monday following an update on testing of the Silurian Santa Rosa and Devonian Icla reservoirs in the Lapacho well in Paraguay's Chaco. A test of Santa Rosa was cut short, although management reckons that it can be commercialized, and a test of Icla recovered only gas and no oil.
Russia’s gas giant Gazprom said in a release on Monday it had signed a deal with Eni, Wintershall and EDF on the purchase of 50% of shares in South Stream Transport BV. Thus, Gazprom will be a 100% owner of the company.
The oil price drop that has dominated the headlines in recent weeks has been framed almost exclusively in terms of oil market economics, with most media outlets blaming Saudi Arabia, through its OPEC Trojan horse, for driving down the price, thus causing serious damage to the world's major oil exporters – most notably Russia.
Its acceptance is voluntary at this stage. It provides for formation of Local Content Board, among other steps towards maximising local benefits and opportunities.
Bolivia's export 6.3 % higher than despite drop in gas volumes. Economic growth, foreign investment continue
President Evo Morales to coordinate operations with company executive in the meantime. Vice President Garcia Linera makes the announcement regarding 'Comrade' Villegas
The CEO of the state-owned oil company YPF Miguel Galuccio has assured that 2014 “was an exceptional year” in terms of growth and investment. He pointed out that every goal for the year had been achieved.
Consumers could have saved as much as US$ 167 million had fuel been imported directly instead of oil being refined by ANCAP. Mario Bergara deems it to be overblown