Energy & Oil

Energy & Oil
Monday, April 6th 2015 - 17:15 UTC

Santos port four-day fire raging; efforts concentrated in stopping flames from spreading

Firefighters said there was little they could do to extinguish the flames before most of the fuel was consumed.

A fire at a fuel storage facility near Brazil's largest port Santos entered its fourth day on Sunday as 110 firefighters worked to stop the flames from spreading further, the local fire department said.

Monday, April 6th 2015 - 16:43 UTC

Mexican oil production drops following deadly fire on offshore rig

 Production fell from 650,000 barrels per day to 430,000 in the Campeche Sound region of the Gulf of Mexico after Wednesday's blast and blaze (Pic AFP)

Mexico's oil production dropped following a deadly fire at an offshore platform, while authorities are still searching for three missing workers, state-run energy firm Pemex said.

Monday, April 6th 2015 - 06:20 UTC

International legal actions against Petrobras keep climbing

Sweden's 30 billion AP1 pension fund plans to sue Petrobras separately from an existing class action lawsuit after revelations of a multibillion-dollar corruption scandal

One of Sweden’s largest investors has pledged to take direct legal action against Petrobras, becoming the third large investor to seek damages individually from the Brazilian oil group.

Monday, April 6th 2015 - 06:02 UTC

UK ratifies support for Falklands' oil and gas industry development

“We are satisfied that Falklands have the right to develop their hydrocarbons sector as a legitimate commercial venture with international oil and gas companies”

The British government has dismissed a reported threat from Argentina to prosecute oil firms drilling near the 
Falkland Islands. Argentine authorities said that the explorations “carry a huge environmental risk” and claimed that the London-registered companies, which announced last week they had found oil and gas in a remote field off the Islands, should be tried in Argentina

Friday, April 3rd 2015 - 07:08 UTC

Falklands first well of current drilling program declared “oil and gas discovery”

 MLA Jan Cheek said the Zebedee discovery identifies additional resources that could form part of subsequent phases of the Sea Lion field development

The Falkland Islands government welcomed on Thursday the announcement by Premier Oil and partners that the 14/15b=5 “Zebedee” well has been declared an oil and gas discovery following the completion of its evaluation program, Zebedee is the first of six wells from the current drilling campaign planned to take place in Falklands waters during 2015.

Thursday, April 2nd 2015 - 08:08 UTC

Can Argentina capitalize on its vast shale reserves?

Experts have kept an eye since the US Energy Information Administration identified Argentina as holding the world's second largest shale gas and fourth largest shale oil reserves.

Argentina, once a regional energy leader, is now better known for financial busts and bombastic politicians than hydrocarbons prospects. Still, with a resource potential both vast and untapped, the nation has never been far from energy investors' minds. The question today is just how much Argentina is willing to change and how this plays into a low oil price environment that is already negatively impacting investment elsewhere.

Thursday, April 2nd 2015 - 07:42 UTC

Falklands oil explorer looking for associate to develop Darwin discovery

 Borders and Southern said it has been looking to secure partners against a backdrop of weaker oil prices, reduced expenditure but also cheaper rig and well service costs.

Falklands’ explorer Borders and Southern Petroleum PLC said this week its pre-tax loss widened in 2014 as costs increased, and admitted it has struggled to find a partner for the Darwin discovery to the south of the Falkland Islands, against a backdrop of reduced investment by companies caused by the fall in oil prices.

Thursday, April 2nd 2015 - 07:31 UTC

Brazil oil industry wants new auction rights rules and more efficient sourcing requirements

The IBP also wants the government to make changes to the legislation governing auctions to reduce “uncertainty that causes investors to stay away,” De Luca said.

The Brazilian Petroleum Institute, or IBP, has called on the government to change the regulatory framework to deal with the crisis caused by the collapse of oil prices and the corruption scandal at state-controlled oil giant Petrobras.

Wednesday, April 1st 2015 - 08:26 UTC

Driverless cars poised to transform automotive industry

The F 015 'Luxury in Motion' concept car is completely self-driving but still has a steering wheel and brake if you want to swivel around and drive it manually.

The newest Mercedes autonomous car looks like a car on the outside but like a lounge on the inside, with four swivel seats facing each other in a multimedia bubble of padded leather and walnut veneer.

Monday, March 30th 2015 - 06:58 UTC

Falklands' oil industry advances despite the fall in oil prices, according to FT

Sam Moody insists that a smaller scale plan at Sea Lion with an initial outlay of 1.8bn dollars or less, could guarantee the beginning of production before 2020”.

A recent piece from the Financial Times points to the fact that despite the remoteness of the Falkland Islands, the fall of international oil prices and the ongoing conflict with Argentina, this has not impeded small oil and gas companies from going ahead with exploration, and hopefully before 2020 production, in the Islands waters.

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