Tuesday, November 10th 2015 - 06:49 UTC

Another can of worms in Petrobras: 1.2bn dollars for a century old Texas refinery

Petrobras paid $1.2bn for the nearly century-old refinery complex, almost 30 times the amount the Belgian company Astra Oil purchased it for in 2005

Brazilian officials are investigating allegations that Petrobras overpaid hundreds of millions of dollars for the Pasadena, Texas, refinery and funneled money into a massive kickback scheme that's led to dozens of convictions and arrests and fueled calls for the impeachment of president Dilma Rousseff, who chaired the company until 2010.

Saturday, November 7th 2015 - 07:48 UTC

YPF focusing on boosting natural gas production; investors waiting for “post-election clarity”

“We have been shifting and we will continue to shift as much as we can from oil to natural gas production,” Chief Financial Officer Daniel Gonzalez said

Argentina's state-run energy company YPF said on Friday it plans to focus on boosting natural gas production in 2016, while also pursuing a gradual reduction in drilling and completion costs and looking for more partnerships for shale and tight play projects. It also admitted that potential investors are waiting for post-election clarity on economic and energy policies before “making any decisions”.

Friday, October 30th 2015 - 06:37 UTC

Falklands' Humpback well finds non-commercial quantities of oil and gas

Following the Humpback well, the Eirik Raude rig returns to the North Falkland basin where it will drill an appraisal of the Elaine-Isobel fan complex

Humpback is the first well to encounter oil in the potentially larger systems in deeper waters off the southeast of the Falkland Islands; however the oil and gas across a number of reservoir targets in the well drilled to a depth of 5.136 meters, were in non-commercial quantities.

Tuesday, October 27th 2015 - 07:43 UTC

Japanese company acquires part of Petrobras gas distribution unit

Through Mitsui Gas, Mitsui is set to acquire 49% of shares in Gaspetro which has equity stakes in local gas distribution companies in 19 Brazilian states.

Japan-based Mitsui has signed an agreement with Petrobras for partial acquisition of shares in the latter's natural gas distribution unit Petrobras Gás (Gaspetro) for about R$1.9bn ($489m).

Saturday, October 17th 2015 - 06:54 UTC

Falklands' southeast exploratory well has found 'oil and gas shows', says FOGL

FOGL and Noble have decided to drill deeper at Humpback well. At a depth of 4,718m it recorded oil and gas shows

Exploring group Falkland Oil and Gas Ltd. said on Friday the Humpback 53/02-01 exploration well to the southeast of the Falkland Islands has found oil and gas shows, while wire-line logging indicates there are hydrocarbons bearing sandstones within the main target area.

Monday, October 12th 2015 - 06:22 UTC

Scioli leads presidential race in Argentina but still a puff short to avoid runoff

Scioli has support from 37.1% of those who have decided how they are going to vote, according to the Poliarquia poll published in the daily La Nacion.

Argentine ruling party's candidate Daniel Scioli maintains a commanding lead in the presidential race but still lacks enough voter support to win outright in the first round, an opinion poll by the Poliarquia consultancy showed on Sunday.

Wednesday, October 7th 2015 - 02:11 UTC

Japan's Mitsui Lines takes charge of re-gasifying unit project in Uruguay

In October 2013, MOL signed a 20-year charter contract for an FSRU in the port of Montevideo, with GNLS, which was entrusted with the construction

Japan's Mitsui O.S.K. Lines, Ltd. announced on Wednesday that the company has reached a basic agreement with Gas Sayago, a joint venture between Uruguay’s state oil company ANCAP and state power company UTE, to continue the floating storage and re-gasification unit (FSRU) project led by Gas Sayago and being built in Montevideo.

Tuesday, October 6th 2015 - 13:02 UTC

Debt-overwhelmed Petrobras cuts further capital spending plans for this year and 2016

Petrobras plans to cut 2015 investment by 11% to $25 billion from $28 billion and investment for 2016 will be cut 30% to $19 billion from $27 billion

Petrobras struggling with the biggest debt load among global oil firms, on Monday cut $11 billion from capital spending plans for this year and next as Brazil's currency and oil prices slump. Petrobras plans to cut 2015 investment by 11% to $25 billion from the previous $28 billion, according to a statement.

Saturday, September 26th 2015 - 07:43 UTC

Falklands' oil companies agree to resume drilling at successful Sea Lion prospect

Premier Oil is the operator of the project with a 36% stake, with Falkland Oil and Gas holding a 40% stake and Rockhopper Exploration holding the balance.

Falkland Oil and Gas PLC on Friday announced it has agreed with Rockhopper Exploration PLC and Premier Oil PLC to drill another well on the Isobel/Elaine complex to replace the planned Jayne East well.

Thursday, September 24th 2015 - 07:03 UTC

Xi arrives in the US hoping for investments and pledging cooperation

Xi's busy stop on the West Coast is the first leg of a week-long trip to the US and offers him a chance to highlight China's cooperation with U.S. companies

Seeking to warm bilateral ties and project a sunny climate for U.S. business, Chinese President Xi Jinping vowed on Wednesday to cut restrictions on foreign investment, while his chief Internet regulator appeared to lay the groundwork for a basic agreement later this week on cyber warfare.


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