Energy & Oil

Energy & Oil
Monday, June 8th 2015 - 08:32 UTC

YPF strikes shale gas in Vaca Muerta; initial production 43.000 m3day

The find, in the Patagonian province of Neuquen, suggests there is likely much more gas in the vast but barely tapped Vaca Muerta field, YPF said.

Argentina's government managed energy company YPF said on Sunday that it turned up a new promising shale gas deposit in its giant Vaca Muerta field in the south of the country.The find, in the Patagonian province of Neuquen, suggests there is likely much more gas in the vast but barely tapped Vaca Muerta field, YPF said.

Saturday, June 6th 2015 - 09:46 UTC

Falklands oil companies planning to continue drilling into next year

“I can't go to Argentina and nearby countries. But operationally, this has no effect,” Tim Bushell, Falkland Oil and Gas chief executive, said.

Falkland Oil and Gas plans to continue drilling into next year, its chief executive said, defying legal threats made by the Argentine government against oil explorers in the Falkland Islands.

Saturday, June 6th 2015 - 09:39 UTC

Environmental groups lobbying to derail Shell drilling for oil in the Arctic

The Sierra Club and nine other groups sought to overturn the US decision in a petition with the San Francisco 9th U.S. Circuit Court of Appeals this week.

Environmental groups and organizations are lobbying to derail Royal Dutch Shell PLC's plan to drill in the Arctic Ocean as soon as July. The Bureau of Ocean Energy Management, an agency within the U.S. Department of the Interior, gave conditional approval in May to Shell's resumption of fossil fuel exploration in the Arctic, which was paused after a mishap-filled 2012 season.

Saturday, June 6th 2015 - 08:11 UTC

OPEC holds production at 30 million bpd; markets react with volatility

West Texas Intermediate, or light sweet crude, was similarly indecisive, falling before recovering to about $58.9 a barrel, up 1.4%. Oil prices had fallen 5% over the previous two sessions.  Investors

Crude oil prices were volatile after ministers from the Opec cartel decided to hold production levels at 30 million barrels per day. Brent crude traded in a narrow range around $62 a barrel, before ending the day up 1.8% at $63.15.

Friday, June 5th 2015 - 09:23 UTC

The evolution of the oil weapon

After the 1973 embargo, Nixon approached Saudi Arabia with a proposed deal to ensure that a repeat of such an embargo would never happen to the US

In the age of derivatives, swaps, and electronic money transfers, a new form of warfare has emerged: financial warfare. Recently, the US has passed sanctions on countries such as Syria, Venezuela and North Korea, but the majority of energy related sanctions passed have been targeted at Iran and Russia.

Wednesday, June 3rd 2015 - 09:24 UTC

Falklands advances despite Argentine disruption and blockade efforts, says Acting Governor Sandra Tyler-Haywood

“These are exciting times for the Falkland Islands. The past year has seen significant developments in many areas”, said Acting Governor Sandra Tyler Haywood

Falkland Islands' Her Honour the Acting Governor delivered on Tuesday his State of the Nation speech to the elected Legislative Assembly underlining progress and expansion achieved in the economy and community development, the UK resolute in defending the rights and wishes of the Falkland Islanders to develop their own natural resources, and despite Argentine disruption and blockade efforts, first oil is expected to be produced in 2019.

Monday, June 1st 2015 - 07:47 UTC

Petrobras denies sale of distribution network for much needed investment cash

BR is Brazil's largest distributor and marketer of petroleum derivatives and bio-fuels, with a 30% market share and a network of 7,900 service stations

Brazilian state-controlled oil company Petrobras said that the 13.7bn dollars divestment program it unveiled two months ago does not include plans to sell a stake in its service station network.

Friday, May 29th 2015 - 09:44 UTC

Falkland Islands welcomes 'oil discovery' at the Isobel Deep exploration

”The (Isobel Deep) result potentially opens up a new development area some 30 kilometers to the south of the Sea Lion field” said Stephen Luxton.

The Falkland Islands Government welcomed Thursday's announcement by Premier Oil and partners that the 14/20-1 ‘Isobel Deep’ exploration well has been declared an “oil discovery”. Isobel Deep in the North Falkland basin, is the second well of a six-well offshore campaign planned to take place in the Islands waters through 2015.

Tuesday, May 26th 2015 - 06:38 UTC

YPF strikes oil in south Patagonia; resources estimated in 40m oil barrels

“Last year we drilled another well of similar characteristics in Los Caldenes with resources calculated in 15 million oil barrels”, said Carlos Colo

Argentina's oil and gas government managed corporation YPF announced the discovery of a new oil field in Los Caldenes, in Patagonia Rio Negro province, with resources estimated in 40 million oil barrels. Manzano Grande x-1 is the second “discoverer well” in this block of 115 square kilometers located north of the Cinco Saltos town.

Wednesday, May 20th 2015 - 05:11 UTC

Falklands' Isobel Deep well with good prospects of finding oil, say operators

Partners said an Isobel Deep sand interval was penetrated with “suspected elevated formation pressure and oil shows.” (Pic FOGL)

Premier Oil’s high-impact Falklands Isobel Deep well has hit oil shows in a suspected high pressure formation, partners Rockhopper Exploration and Falkland Oil & Gas Ltd., said Tuesday morning. But, the area will now have to be cased, delaying the drilling program.

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