Energy & Oil

Friday, April 19th 2019 - 09:27 UTC
ConocoPhillips pulling out of the North Sea oil exploration and production

ConocoPhillips is pulling out of UK exploration and production after selling its North Sea oil and gas assets to Chrysaor for US$ 2.68bn (£2bn). The sale will boost Chrysaor's production by about 72,000 barrels a day to 177,000 - making it one of the UK's biggest operators.
Thursday, April 18th 2019 - 09:41 UTC
Petrobras insists it is completely free of political interference and increases diesel price 10 cents

Brazilian state-run oil firm Petrobras hiked diesel prices on Wednesday, and executives said the firm could expand its already aggressive divestment plan while arguing the company was completely free of political interference.
Thursday, April 18th 2019 - 08:33 UTC
Spain's Repsol suspends swaps of refined products for crude from Venezuela

Spain’s Repsol has suspended its swaps of refined products for crude with Venezuela’s state-run oil company PDVSA, as U.S. officials weigh penalties for foreign firms doing business with Venezuela.
Wednesday, April 17th 2019 - 09:56 UTC
Qatar Petroleum wins five offshore blocks in Argentina's South Atlantic basins

Qatar Petroleum (QP) has won exploration rights in five offshore blocks in the North Argentina, and Malvinas West basins in Argentina. The winning bids were announced on Tuesday by Argentina’s Secretariat of Government of Energy (“SGE”) at the end of a public tender process that started in November 2018.
Tuesday, April 16th 2019 - 08:31 UTC
Brazil's Real and Petrobras shares recover on Monday trading

Brazil's Real and shares rose on Monday, recovering after declines last week, while the currencies of oil exporters such as the Mexican and Colombian pesos weakened as crude prices dipped.
Monday, April 15th 2019 - 09:34 UTC
Brazil fuel-price controversy: Minister Guedes confident he can convince Bolsonaro and overcome the situation

Brazilian Economy Minister Paulo Guedes said he’ll clear up any confusion from President Jair Bolsonaro’s decision to halt a planned fuel-price hike by Petrobras.
Friday, April 12th 2019 - 09:48 UTC
Venezuela ships a million barrels of oil to Cuba despite US sanctions

Venezuela's state-run PDVSA has shipped one million barrels of oil to Cuba days after the United States imposed fresh sanctions on vessels and firms involved in exports to the island in an effort to halt oil trade between the political allies, according to a PDVSA document and tanker tracking data.
Thursday, April 11th 2019 - 09:07 UTC
Brazilian prosecutors planning to file criminal charges to mining giant Vale SA

Brazilian prosecutors plan to file criminal charges against Vale SA and employees of the mining giant over the deadly collapse of a mine-waste dam in January, the lead investigator told The Wall Street Journal.
Thursday, April 11th 2019 - 06:54 UTC
Petrobras to receive US$ 9.058bn following agreement with the government

The Brazilian government reached a landmark deal to pay state-controlled oil company Petrobras SA US$9.058 billion for revising a transfer-of-rights oil contract, Energy Minister Bento Albuquerque said.
Wednesday, April 10th 2019 - 09:27 UTC
Saudi's oil company Aramco plans to borrow US$ 12bn in its debut bond sale

Saudi Aramco is planning to borrow US$12 billion in its debut bond sale as the oil giant pulls off one of the most oversubscribed debt deals of all time. Investor orders for the dollar bonds reached an excess of US$100 billion at the peak on Tuesday, according to market experts