Investments

Investments
Friday, February 26th 2016 - 11:02 UTC

Brazil's Vale reports record losses; puts prime assets on sale to lower debt

CEO Murilo Ferreira said there were “no restrictions” on what the company would consider selling in order to reduce net debt to $15 billion

Brazilian miner Vale SA put its prime assets on the block on Thursday after taking the biggest loss in decades, but analysts said the target to make $10 billion in 18 months was unrealistic and expressed concern a fire sale could destroy equity value.

Friday, February 26th 2016 - 10:19 UTC

Total starts production at Argentine Tierra del Fuego offshore gas field

”It's Total's second start up this year and will contribute to our production growth in 2016 and for the years to come,” said Arnaud Breuillac from Total

French oil company Total has started up production at the offshore Vega Pleyade gas and condensate field in the Tierra del Fuego region of Argentina. Operated by Total, the project will have a production capacity of 10 million cubic meters of gas per day (70,000 barrels of oil equivalent per day (boe/d)).

Wednesday, February 24th 2016 - 07:43 UTC

Argentina's YPF submits copy of contract with Chevron but warns about 'confidential information'

”Confidentiality of terms had the objective of protecting geological, commercial and financial information, which have strategic value for both companies” says YPF

Argentina's oil and gas company YPF submitted a copy of the contract signed with Chevron back in 2013 for joint works at the Loma Campana field in the province of Neuquén. Still, Argentina’s state-run energy giant demanded “confidential information” not to be revealed.

Friday, February 19th 2016 - 04:35 UTC

Macri and Renzi vow to promote bilateral trade and Italian investments in Argentina

“We are focused in trade and getting new investments, in renewable energy, in railways. We want Italian companies to invest in Argentina,” said Macri

President Mauricio Macri and visiting Italian premier Matteo Renzi vowed to “re-launch bilateral relations”, and emphasized the Italian interest in participating in energy, transport, gas and technology projects in the country which has become home to one of the largest Italian migrations.

Thursday, February 18th 2016 - 06:19 UTC

Falklands' oil industry continues to advance, despite current low prices

“The development strategy presented for Sea Lion is through use of a FPSO vessel,  which adds flexibility and for which leasing costs have halved”.

Despite current low oil prices, the oil and gas industry in the Falkland Islands is continuing to go from strength to strength as its first project, Premier Oil’s Sea Lion, moves closer to commercialization, according to an analyst with research and consulting firm GlobalData.

Thursday, February 18th 2016 - 06:07 UTC

Norway's Statoil joins Tullow Oil and expands share in Uruguay's Pelotas basin

“With this transaction, we are increasing our exposure to the upside potential of this untested geological setting”, said Statoil’s Nicholas Alan Maden

Norway’s Statoil said that it has signed an agreement with Tullow Oil to secure a 35% working interest in a Uruguay’s Pelotas basin exploration block 15, about 200 kilometers off the coast of Uruguay.

Tuesday, February 16th 2016 - 07:37 UTC

Noble Energy cancels drilling in Falklands, following termination of rig contract

Due to operational issues with the drilling rig, Noble has cancelled the rig contract, leading, in turn, to the notification to Argos of Force Majeure, the company said.

Falkland Islands based company, Argos Resources Ltd. said it has received notification from Noble Energy, the operator of license PL001 in which Argos holds a 5% overriding royalty interest, that it is exercising its rights to declare Force Majeure on the well.

Friday, February 12th 2016 - 18:47 UTC

Falklands' (oil exploration) “has been a hugely successful campaign”, says Rockhopper

The notice to terminate follows a number of operational issues with the Eirik Raude rig. Chatham well is deferred until Sea Lion pre-development drilling campaign.

Rockhopper Exploration which has a joint venture agreement with Premier Oil offshore the Falkland Islands, described the oil exploration campaign now terminated as a 'huge success' and underlines the postponement of the Chatham well drilling will have no impact on the Field Development Plan for the Sea Lion oil discovery development.

Friday, February 12th 2016 - 18:14 UTC

Falklands' exploratory campaign ended, following termination of ocean rig contract

The rig 'Eirik Rude' experienced a number of material operational issues, according to Premier Oil and Noble Energy

The Falkland Islands government and Premier Oil have announced on Friday the ocean rig 'Eirik Raude' contract termination, which in practical terms puts an end to the current exploratory campaign and the scheduled drilling of the Chatham well. Nevertheless both sides underlined the success of the now terminated campaign with the oil discoveries at the Zebedee and Isobel Deep prospects in the North Falkland basin and look forward to continue working in the near future.

Friday, February 12th 2016 - 06:15 UTC

Falklands' oil industry development continues despite slump in crude prices

”Despite the low oil price environment, the Sea Lion project continues to move forward,” said chief executive Sam Moody.

Rockhopper Exploration flagship project, offshore the Falkland Islands the Sea Lion oil field development, continues to advance despite the recent slump in crude prices.

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!

Advertisement