Energy & OilEnergy & Oil
Taking as reference the ratio between the average salary and the price of gasoline in six Latam countries, Mexican and Argentine consumers are the better off when it comes to filling up the tank while for Uruguay and Colombia the ratio is the least favorable.
Successful trade missions to Uruguay and Chile and the growing support and know-how links with Scotland for the development of the Falkland Islands oil and gas industry were mentioned as some of the 2013 highlights by Roger Spink, president of the Falklands Chamber of Commerce in his Christmas speech.
Brazil's oil and natural gas output rose 2.87% in November compared with the same month a year earlier as new oil fields came on line and platforms under maintenance returned to operation, Brazil's oil regulator, the ANP, said on Friday.
After a busy 2011 and 2012, 2013 was a relatively quiet year for exploration around the Falkland Islands in the South Atlantic Ocean. The various companies involved in the region's nascent oil and gas industry preferred to spend the year focusing on seismic data acquisition campaigns and consolidating some of their assets.
New Year arrived in Argentina with much needed rainfall relief, but also with a hefty increase in urban transport fares, the same with fuel prices at the pump and the promise of a list of 200 products included in a price agreement with the county’s major supermarkets and retailers.
Brazil conditions any future oil pre-salt bidding to local industry capacity to supply equipment and services
Brazilian Government has decided that any future bidding rounds involving pre-salt blocks will only be launched according to the local industry capability to supply the demand in equipment and services needed by the sector. Local industry has been struggling to keep up with the demand placed by O&G players already involved in pre-salt E&P in Brazil, which are all Petrobras partners, such as BG and others.
Gazprom has started producing oil from the Prirazlomnoye field, which is the first Russian project for developing the Arctic shelf and the commencement of their large-scale activities aimed at creating a large hydrocarbon production center in the region, according to the company.
Rockhopper Exploration has issued details of its next planned exploration wells offshore the Falkland Islands. The details were published on the Offshore site 23 December. Rockhopper was the first of several companies operating in Falklands waters to confirm the existence of oil and gas.
President Nicolas Maduro said he was contemplating a three-year period to raise domestic fuel prices; a sensitive issue for Venezuela where a similar move helped spark deadly 1989 riots.
Argentina has filed a complaint with the World Trade Organization against the European Union’s decision to impose anti-dumping duties on its biodiesel exports. The duties are “clearly protectionist” and will affect annual sales worth more than 1.5 billion, Argentina’s Foreign Ministry said on Thursday on its website.