Energy & OilEnergy & Oil
Argentina's state-run energy company YPF admitted on Wednesday having held promising meetings with Russia's Gazpron to consider different collaboration and business opportunities, “but so far has not signed any Memorandum of Understanding, MOU or agreement”.
Houston-based Noble Energy will take a 75 million write down for exploration costs after determining that its offshore Scotia well in the Falkland Islands is not commercially viable. The well was drilled in 2012 using 2D seismic interpretation but was deemed non-commercial following analysis of 3D seismic data.
Next time you get into your car and drive to the supermarket, think about how much energy you consume on an annual basis. It is widely assumed that Westerners are some of the world's worst energy pigs. While Americans make up just 5% of the global population, they use 20% of its energy, eat 15% of its meat, and produce 40% of the earth's garbage.
The first sign of oil industry impact on the face of the Falkland Islands capital, Stanley is in the offing with the planning approval given for an 80 room portable hotel near The Trough.
Price cuts by key exporter Saudi Arabia helped send global crude prices to their lowest point in more than two years Thursday before they recovered in late trade.
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.
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.
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.
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.”
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.