Energy & Oil

Energy & Oil
Thursday, July 31st 2014 - 22:19 UTC

Falklands Chamber of Commerce re-elects Spink; forecast of busy 2015 propped by oil and squid

Roger Spink said it had been a positive year and highlighted FICOC contacts with Punta Arenas and Montevideo

Falkland Islands economy will keep growing and businesses will be busy next year spurred by the oil industry and better Illex catches, anticipated Falkland Islands Chamber of Commerce, FICOC, Roger Spink who was re-elected as head of the Board of Directors.

Wednesday, July 30th 2014 - 01:34 UTC

UK to encourage extraction of natural gas and oil from shale rock to help with declining production

“Unlocking shale gas in Britain has the potential to provide us with greater energy security, jobs and growth,” said energy minister, Matthew Hancock

The British government plans to make more land available for licensing for oil and natural gas exploration in the first such expansion since 2008. The move, which had been anticipated by the oil and gas industry, could prove to be a milestone in efforts by the government of Prime Minister David Cameron to encourage the extraction of natural gas and oil from shale rock.

Monday, July 28th 2014 - 07:30 UTC

Cash-short Venezuela considering the sale of its US downstream subsidiary

Citgo includes thousands of gasoline stations plus several refineries and storage facilities

Venezuela's state-run oil company Petroleos de Venezuela SA (PDVSA) is considering offers to sell its U.S. downstream subsidiary Citgo, industry research group Argus Media reported on its website last Friday.

Friday, July 25th 2014 - 06:26 UTC

Uruguay oil and gas summit schedules for next November

This Summit follows the announcement by Ancap of the third oil bidding round, the Ronda Uruguay III

Global Summits Organizer IRN and Grupo BG de Eventos will be launching the inaugural Uruguay Oil & Gas 2014 Summit which will take place on 17th-18th November in the capital of Uruguay, Montevideo. This Summit follows the announcement of the third oil bidding round, the Ronda Uruguay III.

Thursday, July 24th 2014 - 06:18 UTC

Humala signs contract for pipeline that will make Peru a leading gas exporter of the region

President Humala said after the signing ceremony that the deal is an historic milestone for natural gas development

The consortium made up of Spanish energy company Enagas and Brazilian construction giant Odebrecht signed a contract on Wednesday with Peru's Energy and Mines Ministry for the construction and operation of a natural gas pipeline that will run from the Camisea gas fields to the Pacific port of Ilo.

Monday, July 21st 2014 - 07:06 UTC

Guyana offshore oil exploration hampered by neighboring Venezuela

 Natural Resources and Environment Minister Robert Persaud

Guyana’s offshore exploration for oil in areas being contested by neighboring Venezuela is being faced with setbacks. Natural Resources and Environment Minister Robert Persaud in making the revelation said this is linked to the expulsion and temporary seizure of the Malaysian seismic research vessel, RV Teknik Perdana, by Venezuela’s Navy last year.

Friday, July 18th 2014 - 08:53 UTC

Falklands enters oil production stage: contract awarded for designing tension leg platform

Prototype of TLP with over 30,000 tons of topsides for the 450-metres Sea Lion deep offshore location

International engineering and project management company, AMEC, will be the company responsible for designing Premier Oil’s tension leg platform (TLP) for the Sea Lion Development in the North Falklands Basin, 200 kilometers to the north of the Falkland Islands.

Monday, July 14th 2014 - 06:07 UTC

US consolidating as world's biggest oil and natural gas producer

Oil extraction is soaring at shale formations in Texas and North Dakota as companies apply fracking

The US will remain the world’s biggest oil producer this year after overtaking Saudi Arabia and Russia as extraction of energy from shale rock spurs US economic recovery, Bank of America Corp. said in a report.

Monday, July 14th 2014 - 05:49 UTC

Russia interested in Argentina's shale deposits, says Cristina Fernandez

“A Russian delegation will travel to Vaca Muerta to visit one of the largest shale gas areas of the world” announced Cristina Fernández

President Cristina Fernandez confirmed Russia’s interest in investing in Argentina's Vaca Muerta shale formation in Patagonia and announced that a Russian delegation will travel soon to the area, which holds one of the largest shale gas and oil reserves of the world.

Monday, July 14th 2014 - 05:24 UTC

Russia offers to build (and finance) two new nuclear power plants in Argentina

“Rosatom is actively working here and has already handed over its technical and commercial offer to our (Argentine) colleagues,” said minister Novak

Russian President Vladimir Putin signed on Saturday a nuclear energy cooperation deal with Argentina on the third stop (Cuba, Nicaragua) of a tour to bolster trade ties and strengthen Russia’s influence in Latin America.

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