Energy & OilEnergy & Oil
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.
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.
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.
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
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.
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.
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.
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.
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.
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.