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Montevideo, June 23rd 2018 - 07:51 UTC

Energy & Oil

  • Saturday, February 24th 2018 - 09:38 UTC

    Falklands issues public consultation for the oil industry

    FIG and MLA Roger Spink feel this is the right time to consult with Industry on oil taxation given the potential development opportunities in North Falklands Basin

    The Falkland Islands Government, FIG, has issued a public consultation document covering the taxation regime for oil companies operating in the Falkland Islands and their associated supply chain partners. This consultation will be open until Friday 6 April 2018 for responses from interested parties, which will be summarized and fed into final policy and legislative design later during 2018.

  • Friday, February 23rd 2018 - 09:05 UTC

    US adds more import duties on biodiesel from Argentina

    The latest duties make it virtually certain that biodiesel from Argentina will not be sold in the U.S. market, with combined rates of up to 159% on the fuel

    The U.S. Commerce Department piled on more import duties on biodiesel from Argentina and Indonesia, adding anti-dumping duties of 60.44% to 276.65% to already steep anti-subsidy duties on the fuels.

  • Wednesday, February 21st 2018 - 01:26 UTC

    Petro, the Venezuelan cryptocurrency is online

    The initiative promoted by the government of Nicolás Maduro responds to individual sanctions by the international community against government officials.

    The pre-sale of Petro began early on Tuesday, the cryptocurrency proposed by the Venezuelan government in recent weeks and backed by the country's natural resources. According to experts, it is “ridiculous”, arguing that the creation of a new currency would aggravate the economic crisis in the Caribbean country.

  • Wednesday, February 14th 2018 - 16:28 UTC

    Clean Oil That Only Costs $20

    If there's one big reason for the U.S. energy revolution, it's that new technology has allowed American companies to beat the competition

    The United States is in the midst of an energy revolution.

    Oil production has risen by 5 million barrels per day (bpd) since 2010, an increase of nearly 100 percent. New technology, particularly techniques in shale oil drilling, has opened up vast new opportunities for oil and gas companies.

  • Thursday, February 8th 2018 - 11:19 UTC

    Long steel industry concentration in Brazil: ArcelorMittal taking over Votorantim

    Jefferson de Paula, ArcelorMittal executive vice president said the company's  long steel capacity in Brazil would reach up to 6 million tons per year after the tie-up.

    The Brazilian unit of ArcelorMittal expects to conclude in the second quarter the takeover of rival Votorantim Siderurgia SA to become the country’s largest long steel producer, a senior company executive said. Jefferson de Paula, ArcelorMittal executive vice president, said that ArcelorMittal’s long steel capacity in Brazil would reach up to 6 million tons per year after the tie-up.

  • Wednesday, February 7th 2018 - 14:41 UTC

    Oil Prices Ravaged By Financial Turmoil

    “The stock market and interest rates can really affect oil a lot,” told Mark Waggoner

    By Nick Cunningham of Oilprice.com

    Oil prices fell back suddenly over the last few trading sessions, dragged down by some forces beyond the oil market.

  • Monday, February 5th 2018 - 09:08 UTC

    Can The Shale Boom Avoid These Bottlenecks?

    The rig count in the Permian has surged and jumped by 18 in the most recent week for which data is available, to 427, the highest total for the basin since early 2015.

    By Nick Cunningham of Oilprice.com <br />
    <br />
    Shale companies continue to drill at a frenzied pace, adding rigs and breaking U.S. oil production levels with each passing week. Yet, the oil production is becoming increasingly geographically concentrated. Not only is the Permian basin accounting for much of the new oil production in the U.S., but a relatively small number of counties within the Permian are home to most of that action.

  • Monday, February 5th 2018 - 05:16 UTC

    Falklands' oil industry expected to receive an FPSO by 2022

    Brazil leads the South American market with 24 planned and announced FPSOs, followed by Guyana and the Falkland Islands with one FPSO each.(Pic M Sitek)

    A total of 55 planned and announced floating production, storage, and offloading units (FPSOs) are expected to begin operations by 2022 worldwide, according to a report by GlobalData. In the South American list Brazil figures with 24 FPSOs, plus the Falkland Islands and Guyana with one each.

  • Sunday, February 4th 2018 - 02:02 UTC

    What does the Premier Environmental Impact Statement say about the Sealion Oil Field Development to the North of the Falkland Islands

    As Mercopress reported, Premier Oil are currently consulting on the Environmental Impact Statement (EIS) for their Sealion Oil Field development sitting 220km to the North of the Falkland Islands in 450 metres of water depth. The formal minimum 42 day consultation period began earlier in the week and only after the Falkland Islands Government agreed via its Executive Council that it could do so.

  • Friday, February 2nd 2018 - 09:52 UTC

    Why Is The Shale Industry Still Not Profitable?

    The average return on asset for U.S. shale companies “is still a measly 0.8%,” the financial services company wrote in its report.

    By Nick Cunningham of Oilprice.com

    Echoing the criticism of too much hype surrounding U.S. shale from the Saudi oil minister, a new report finds that shale drilling is still largely not profitable. Not only that, but costs are on the rise and drillers are pursuing “irrational production.”