Energy & Oil

Energy & Oil
Monday, January 4th 2016 - 09:38 UTC

How far can the Syria Conflict spiral out of control: Interview with Pelicourt

You know, Putin's probably not too far off in his statement referring to Erdogan's loss of “mind and reason”.

Business is business, so why not buy oil from ISIS. The Russians claim the Turks are doing it, and in all likelihood even Assad is buying it. No one can fight a war without oil, according to Robert Bensh, partner and managing director of Pelicourt LLC oil and gas company.

Wednesday, December 30th 2015 - 00:46 UTC

Petrobras corruption 'net' involves Norwegian companies, claim Oslo media

A company named in the Petrobras scandal is Akastor, a spun off from the large Norwegian oil supply company Aker Solutions in 2014.

The huge corruption case swirling around Brazilian oil company Petrobras is being called the world’s largest, and increasing numbers of Norwegian companies seem to be getting tangled up in it. Norwegian bosses mostly claim no knowledge of any bribes being paid, but investigations are underway on several fronts.

Thursday, December 24th 2015 - 11:11 UTC

Capital-strapped Petrobras wants to extend oil and gas fields contracts

By renewing early Petrobras will ensure it can count remaining reserves on its financial accounts for a longer period, making it easier to raise capital.

Brazil's state-run oil company Petrobras will have to agree to extract at least 900 million barrels more of oil and natural gas equivalent from its Marlim and Voador offshore oil fields to win early renewal of its concession rights, oil regulator ANP said.

Wednesday, December 23rd 2015 - 08:46 UTC

Despite falling oil prices, Brazil is developing the equatorial Barreirinhas basin

CGG is deploying its specialized seismic vessel, the Oceanic Vega, to acquire the 14 500 km² 3D seismic survey.

Inchcape Shipping Services (ISS), the world's leading maritime and logistics service provider, has signed a contract with CGG to provide offshore agency support services for a new oil and gas exploration project in the Barreirinhas Basin in the equatorial margin of northern Brazil.

Wednesday, December 23rd 2015 - 08:02 UTC

Argentina's Falklands' claim and rejection of oil activities reiterated at the 'new' Mercosur summit

This is the first regional document related to the Falkland Islands Argentine claim since Mauricio Macri took office last 10 December.

Mercosur full and associate members ended their Paraguay summit signing six joint statements, one of which in support of Argentina's sovereignty claim over the Falklands/Malvinas Islands and rejecting 'non authorized' hydrocarbons exploration in the Argentine continental shelf. This is the first regional document related to the Falkland Islands Argentine claim since Mauricio Macri took office last 10 December.

Saturday, December 19th 2015 - 04:11 UTC

United States lifts 40-year ban on exports of crude oil

United States oil producers will now be able to sell crude to the already saturated international market. The bulk of US oil comes from shale producers.

The United States has approved a measure to lift the 40-year ban on crude oil exports. The move is part of a US$1.1 trillion spending bill approved by the Senate on Friday that will fund the US government until 2016.

Wednesday, December 16th 2015 - 08:49 UTC

Argentina outlines oil and gas wellhead price policy

Aranguren, an ex Shell executive, was an outspoken opponent of Kirchnerite energy policies and Shell was subject to government-sponsored boycotts

Argentina's new government will maintain wellhead crude prices above international levels for now, although the differential will narrow as artificially low wellhead prices for natural gas are gradually adjusted upwards, energy minister Juan Jose Aranguren announced on Tuesday.

Wednesday, December 16th 2015 - 08:20 UTC

YPF and Dow sign US$500m agreement to further develop shale gas

President Macri attended the signing ceremony. His administration plans to triple gas production by the end of 2016

Argentina announced on Tuesday an agreement between state-run oil company YPF and Dow Chemical to spend $500 million next year developing a natural gas project in the Patagonia region.

Wednesday, December 16th 2015 - 07:26 UTC

Expect a much smaller and more profitable Petrobras, in four years, says CEO Bendini

“In four years, you can expect a company with a more positive outlook. It'll be smaller, much smaller, but more profitable”, said CEO Bendini

Petrobras, Brazil's largest corporation, carried out asset sales and underwent a restructuring this year in response to a severe financial crisis, emerging smaller but with a more profitable and productive future ahead, CEO Aldemir Bendini said Tuesday.

Saturday, December 12th 2015 - 07:03 UTC

US crude futures trade at $35, lowest since February 2009; in one week price dropped 10%

Since OPEC spooked global markets by leaving its output quota unchanged at a closely-watched meeting last week, Brent crude has fallen by nearly 12%.

United States crude futures fell sharply on Friday plunging below $36 a barrel for the first time in more than seven years, after a bearish report from the International Energy Agency projected that global energy markets will remain vastly oversupplied for at least the immediate near future.

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