Energy & Oil

Energy & Oil
Tuesday, January 19th 2016 - 08:14 UTC

Falklands' representative at the Caribbean premier energy conference

MLA Ian Hansen discusses hydrocarbons development at the T&T energy conference in Port of Spain

The Falkland Islands' government is attending the annual January 18/20 Trinidad and Tobago Energy Conference sponsored by the Energy Chamber of the Caribbean country. Member of the Legislative Assembly Ian Hansen is representing FIG at what is considered the premier energy conference in the Caribbean which promotes vigorous debate and discussion among leaders of the industry, government and academia.

Tuesday, January 19th 2016 - 08:06 UTC

Falklands oil explorers Rockhopper Exploration and FOGL completed merger

The approval of a court in London came after a January 5 vote by FOGL shareholders in favour of the all-share merger with Rockhopper.

Two leading firms in Falkland Islands offshore oil exploration have completed their merger, it was announced on Monday.

Monday, January 18th 2016 - 08:15 UTC

Petrobras increased pre-salt oil production by 56% during 2015

Production from the highly promising pre-salt region, meanwhile, rose to an average of 767,000 bpd, up 56% from the previous year and a record high

Brazil's state-controlled oil company Petrobras said it increased its crude production last year by 4.6% relative to 2014, exceeding the target set forth in its business plan for the first time in 13 years. Oil output in 2015 amounted to an average of 2.128 million barrels per day (bpd), up 0.15% from the 2.125 million bpd forecast by the company.

Monday, January 18th 2016 - 05:34 UTC

War between Saudi Arabia and Iran could send oil prices to $250

First, the execution of a prominent Shiite cleric prompted protestors to set fire to the Saudi embassy in Tehran.

By James Stafford of Oilprice.com - The rift between Saudi Arabia and Iran has quickly ballooned into the worst conflict in decades between the two countries. The back-and-forth escalation quickly turned the simmering tension into an overt struggle for power in the Middle East

Thursday, January 14th 2016 - 06:11 UTC

Falklands' Sea Lion development will utilize 18 wells to recover 220 mmbbls, anticipates Premier Oil

The conceptual plan has been modified by the addition of the development of the far north west of the Sea Lion field.

Premier Oil provided on Wednesday a Trading and Operations Update ahead of its 2015 Full Year Results which will be announced on Thursday 25 February 2016, which included an upbeat on its Falkland Islands operations mainly at the Sea Lion field.

Tuesday, January 12th 2016 - 06:50 UTC

Brazilian prosecutors looking into possible foreign and local banks involvemrny in Petrobras corruption

Banks under investigation include Ita BBA - Itau investment-banking unit--,Banco Bradesco, Santander, HSBC Holdings Plc, Deutsche Bank and Banco Votorantim

Brazil's federal tax authority and prosecutors are investigating 13 foreign and local banks for possible financial crimes intermediating loans to Brazilian engineering conglomerate Grupo Schahin, newspaper O Estado de S Paulo says.

Monday, January 11th 2016 - 11:14 UTC

Falklands' reveals oil at the Isobel/Elaine project and several adjoining fans

The new well has confirmed Isobel Deep as a discovery and it also hit additional oil bearing fans within the Isobel/Elaine complex

Rockhopper Exploration and Falkland Oil and Gas Ltd have confirmed a significant oil discovery at the Isobel/Elaine project to the north of the Falkland Islands. According to a release from the companies the new 14/20-2 well was a ‘re-drill’ of the prior Isobel Deep well which had to be abandoned prematurely due to operational issues despite encountering oil.

Friday, January 8th 2016 - 18:15 UTC

Petrobras plans further 2016/20 investments cuts, says Sao Paulo media

The revised investment plans will focus on deep-water production, with less dedicated to exploration

Brazil state-run hydrocarbons giant Petrobras will reportedly present a five-year investment plan next month with a target lower than the US$19 billion plan announced last year. Despite two budget cuts last year, Petrobras' plans for the 2016 to 2020 period will include a further drop, with the cuts expected to come from onshore and shallow-water areas, according to a report in the Brazilian daily Estado de S Paulo.

Thursday, January 7th 2016 - 09:19 UTC

Rockhopper faces challenge with offshore exploration project in Italy

Italy's parliament recently approved propositions which included the reintroduction of restrictions on offshore oil and gas activity close to the coast

Rockhopper Exploration PLC on Wednesday was forced back to the drawing board to review its Ombrina Mare project offshore Italy after the country's parliament reintroduced restrictions on activity near the coast. The news could be a blow to the company, which is set to merge with Falkland Oil & Gas Ltd, after Falkland Oil shareholders approved the deal on Tuesday.

Wednesday, January 6th 2016 - 12:02 UTC

Falkland Oil & Gas closer to completing merger with Rockhopper Exploration

The deal will comprise 0.2993 Rockhopper shares for every one FOGL share, which at the time valued FOGL at around GBP57.1 million.

Falkland Oil and Gas PLC late Tuesday took a step closer to completing the proposed all-share merger with fellow AIM-listed Rockhopper Exploration PLC after its shareholders voted in favour of the deal.

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