Britain's Premier Oil said it was seeking a partner for an oil development in the Falkland Islands in order to reduce its exposure to the 5.2 billion dollar project and make higher payouts to shareholders.
Oil giant BP boss Bob Dudley has warned there are big uncertainties for the company over the possibility of Scotland becoming independent. Mr Dudley told the BBC the question mark over which currency Scotland might adopt if there was a 'yes' vote in September's referendum was a concern.
A dispute over a 1.6 billion dollar cost overrun in the Panama Canal's expansion took a new twist Wednesday after a Spanish company leading the project denied it halted work over the spat.
The United States government has approved at least four licenses to export crude oil to Europe, for the first time in years, showing how companies are breaking through the limits of the export ban established in the 1970s, according to Reuters which learned about the fact from a Freedom of Information Act request.
Shares in UK's Premier Oil, which has interests in developing Falkland Islands oil, soared almost 9% on Tuesday despite news that its chief executive is to step down after nine years at the helm. Simon Lockett will leave his position and the board of Premier once a successor has been appointed.
Argentina oil company YPF has bought out Brazil player Petrobras to take over full ownership of an exploration block in Neuquen and Mendoza provinces. YPF agreed to pay 40.7 million dollars for Petrobras' operatorship and 38.45% stake in the Puesto Hernandez block, cutting short a joint venture due to expire in 2016, according to the Argentina explorer.
Argentina oil company YPF is courting Malaysia's Petronas as a possible partner to develop the promising Vaca Muerta shale, according to reports. YPF chief executive Miguel Galuccio was in Kuala Lumpur for a meeting on Wednesday with Petronas leader Tan Sri Dato Shamsul Azhar Abbas, the La Nacion newspaper reported.
Paul Singer, head of Elliot Management Corp., defined as “bizarre”, the bondholders’ offer to resolve judicially the dispute with Argentina over the debt in default from 2001, during in a letter sent to investors and published by Bloomberg News.
Argentine President Cristina Fernández used her personal Twitter account to blast figures in the banking and financial industries, which according to the head of state used speculative practices to send Argentina into default in 2001.
Unemployment among teens and young adults represents a huge global problem, says Muhtar Kent, CEO of Coca-Cola. In the United States, teenage unemployment totaled 20.2 percent in December and if the situation isn't addressed, the results could be devastating, the social peace and fabric of the world is in danger.