Energy & Oil

• Thursday, January 17th 2019 - 10:05 UTC

  Petrobras averaged 2.63 MMboed last year, targets 2.8 MMboed for 2019

  

  Petrobras reports that in 2018, its total production of oil and gas, including natural gas liquids (NGL), was 2.63 MMboed, of which 2.53 MMboed produced in Brazil and 101,000 boed abroad. Petrobras’ own production of oil in Brazil was 2.03 MMbpd.

• Tuesday, January 15th 2019 - 09:23 UTC

  Macri praises Chinese investment in hydropower projects in Patagonia

  

  Argentina's president Mauricio Macri on Monday said the joint Argentina-China hydropower megaproject is “highly important” and “emblematic” in terms of renewable energy and economic development. Macri made the remarks during his first official visit to the construction site of the project, where two hydroelectric dams, Condor Cliff and La Barrancosa, are being erected along the Santa Cruz River in Patagonia to boost national energy output.

• Monday, January 14th 2019 - 09:03 UTC

  Japanese firm prepared to halt construction of a £20bn nuclear reactor in Wales

  

  The UK government's nuclear policy is under renewed scrutiny as the firm behind a £20bn reactor in Wales looks set to halt construction. Japanese media reports say Hitachi will suspend on its Horizon division's Wylfa Newydd plant this week. The company says no formal decision has yet been made.

• Monday, January 14th 2019 - 06:40 UTC

  Premier record oil production helps significant cuts in its debts

  

  Premier Oil has taken advantage of its second consecutive year of record oil production to make larger than expected cuts into its still-significant debts. The London-listed oil and gas developer, with interests in the Falkland Islands, expects its financial results to reveal end-of-year debts of US$2.3 billion, after removing US$390 million from the total following a sharp rise in oil output.

• Saturday, January 12th 2019 - 10:22 UTC

  EU multinationals refuse to collaborate with Brazil justice investigating Petrobras corruption

  

  Commodities trader Trafigura has refused a judge's order to hand over the email archives of two former executives in Brazil who are facing corruption charges over accusations they bribed officials at state-run oil firm Petrobras.

• Friday, January 11th 2019 - 21:16 UTC

  Mexico's crackdown on fuel theft generates supply shortfalls

  

  Gasoline shortages in Mexico sparked by a crackdown on fuel theft prompted warnings from business leaders that industries like car making will suffer if the shortfalls persist as lines at gas stations in the capital grew during the week.

• Wednesday, January 9th 2019 - 08:39 UTC

  ExxonMobil resumes exploratory drilling off Guyana; first FPSO expected at the end of the year

  

  US energy company ExxonMobil has started drilling one of two new exploration wells offshore Guyana. It’s the first of two wells to be drilled this month. The world’s largest publicly traded international oil and gas company said in a statement that the Stena Carron drillship is drilling the Haimara-1 well, located 19 miles east of the Pluma-1 discovery in the southeast Stabroek Block.

• Tuesday, January 8th 2019 - 09:28 UTC

  Brazilian government and Petrobras in dispute over billions of dollars

  

  Brazil’s Economy Ministry denied that the government would pay US$ 14 billion to state-controlled oil company Petroleo Brasileiro SA to settle a dispute over an oil-producing zone off the Brazilian coast known as the transfer-of-rights area.

• Monday, January 7th 2019 - 09:03 UTC

  Oil Is at the mercy of Financial Markets

  

  Oil prices regained more ground on Wednesday, pushed higher after equity markets rebounded from an initial selloff at the start of 2019 trading. The price gains are not entirely convincing. WTI and Brent posted strong gains, each up more than 3 per cent by midday in New York, but come largely after U.S. equity markets shook off an earlier bout of pessimism.

• Friday, January 4th 2019 - 09:10 UTC

  YPF 2012 nationalization case reaches US Supreme Court: US$ 2.5bn at stake

  

  The US Supreme Court will hear this Friday an appeal against an intermediate court decision accepting jurisdiction over Argentina and its majority state-owned oil giant YPF, in a case relating to YPF’s 2012 re-nationalization by Argentina, then under the rule of ex-president Cristina Fernandez.