Energy & Oil

• Wednesday, October 3rd 2018 - 08:17 UTC

  Canada's largest private sector project: US$ 32bn LNG export terminal

  

  A major US$ 31.9bn liquefied natural gas (LNG) project in Canada has received the go-ahead from its partners. The project is a joint venture between Royal Dutch Shell, Malaysia's Petronas, PetroChina, Korea Gas Corporation, and Japan's Mitsubishi Corporation. It is the single largest private sector investment project in Canada's history.

• Friday, September 28th 2018 - 08:47 UTC

  Oil majors to bid for Brazil's offshore potential despite electoral uncertainty

  

  Oil majors are set to gather in Rio de Janeiro this Friday to unveil bids for stakes in Brazil’s high potential offshore areas ahead of elections that are casting a cloud of uncertainty over the industry.

• Friday, September 28th 2018 - 08:17 UTC

  Petrobras gradually moving out of lawsuits stemming from major corruption scheme

  

  Petrobras, Brazil's state oil company, has agreed to pay more than US$ 853m to the United States and Brazil, ending a long-running corruption investigation. The probe stemmed from a bribery scheme at the firm, which involved millions in payments that were concealed from investors and regulators.

• Thursday, September 27th 2018 - 08:24 UTC

  Iran tells Trump he is responsible for oil price increase: stop interfering in the Middle East

  

  President Donald Trump should stop interfering in the Middle East if he wants the price of oil to stop rising, Iranian Oil Minister Bijan Zanganeh was quoted as saying on Wednesday.

• Wednesday, September 26th 2018 - 09:02 UTC

  Falklands' Borders & Southern involved in a farm-out process

  

  Offshore oil & gas exploration company Borders & Southern Petroleum PLC on Tuesday said its loss widened in the first half of the year on finance expense and announced that a farm-out process was active and ongoing.

• Tuesday, September 25th 2018 - 08:37 UTC

  Argentina plans offshore licensing round in the South Atlantic next October

  

  Argentina plans to launch a delayed offshore licensing round in October as it seeks to explore a large frontier region in the South Atlantic for potential oil and natural gas production growth in the future. This was announced to oil executives in Houston by Argentina's energy secretary Javier Iguacel.

• Tuesday, September 25th 2018 - 07:45 UTC

  Oil market turbulence ahead of US sanctions on Iran; OPEC meeting does not plan to increase output

  

  Brent crude breached US$ 81 a barrel on Monday — its highest level in nearly four years — on the back of a tightening oil market and OPEC leaders signaling they won't be immediately boosting output. Global benchmark Brent crude rose as high as US$ 81.39 a barrel, its strongest level since Nov. 21, 2014.

• Monday, September 24th 2018 - 09:15 UTC

  Petrobras plans to increase output 10% next year to some 2.3 million bpd

  

  Brazil’s state-run oil giant Petrobras aims to raise output as much as 10% to around 2.3 million barrels per day (bpd) in 2019 and cut net debt by US$10 billion, according to Chief Financial Officer Rafael Grisolia. The world’s most indebted oil company is on course to reduce debt to US$ 69 billion by the end of this year despite falling short of its US$ 21 billion asset sales target, Grisolia pointed out.

• Friday, September 21st 2018 - 09:03 UTC

  Falklands could allow floating hotels for oil industry workers

  

  An outline planning application submitted to the Falkland Islands Government, FIG, is seeking approval in principle for the siting of a floating accommodation barge in Stanley Harbor.

• Thursday, September 20th 2018 - 06:52 UTC

  Falklands Sea Lion development on track to begin offshore operations

  

  Negotiations continue with service providers for the Premier Oil-operated Sea Lion development in the offshore North Falkland basin. According to partner Rockhopper Exploration, Phase 1 will develop around 220 MMbbl in license PL032 and a further 300 MMbbl from the license’s remaining resources under Phase 2.