Energy & Oil

Wednesday, September 19th 2018 - 08:11 UTC
China agreed to invest US$ 5bn in Venezuelan oil, alleges Maduro

Venezuelan President Nicolas Maduro said on Tuesday that new investments from China will help his country dramatically boost its oil production, doubling down on financing from the Asian nation to turn around its crashing economy.
Friday, September 14th 2018 - 09:07 UTC
US, the world's top crude oil producer, but global geopolitical uncertainty prevails

The U.S. Energy Information Administration (EIA) said that the U.S. likely surpassed Saudi Arabia and Russia earlier this year to become the world’s top crude oil producer. The EIA based its disclosure on preliminary estimates in its Short Term Energy Outlook which is released every month.
Wednesday, September 12th 2018 - 08:45 UTC
Brexit fears: UK oil and gas industry concerned about contracting skilled workers

Oil and gas platforms could have to be shut down if a deal on Brexit leads to difficulties accessing skilled workers, according to an industry report. The warning comes in Oil and Gas UK's latest economic report which said delays in accessing labor markets from EU countries have the potential, in some instances, of leading to production being shut in.
Tuesday, September 11th 2018 - 09:29 UTC
El Niño 2018/19 could be a repeat of 2015/16, cautions WMO

There's a 70% chance of a recurrence of the El Niño weather event before the end of this year, according to the World Meteorological Organization. The last El Niño occurred in 2015-16 and impacted weather patterns around the world, but researchers say they are not expecting this new one to be as intense as 2015-16.
Tuesday, September 11th 2018 - 08:59 UTC
Argentina organizing to become a leading exporter of natural gas

Argentina's biggest natural gas transporter, Transportadora de Gas del Sur, and Texas-based Excelerate Energy, signed on Monday a memorandum of understanding to evaluate building the country's first liquefaction plant, as rising natural gas production fuels export prospects.
Tuesday, September 11th 2018 - 08:13 UTC
Argentina raises 17% price of biodiesel used in domestic fuel mixes

Argentina raised the price of biodiesel used in domestic fuel mixes in response to a sharp devaluation in the Peso currency and new taxes on primary exports, the government said in its official gazette on Monday.
Monday, September 10th 2018 - 08:37 UTC
World's largest working offshore wind farm opens off the coast of Cumbria

The world's largest working offshore wind farm - covering an area equal to 20,000 football pitches - has opened off the coast of Cumbria, north west England. The £1bn Walney facility already had 102 turbines before the completion of a further 87 earlier this year - dubbed the Walney Extension.
Friday, August 31st 2018 - 08:29 UTC
Norway's Equinor plans to invest US$ 15bn in Brazil's oil, gas and renewables

Norway's Equinor will invest up to US$ 15 billion in Brazil over the next 12 years to develop oil, gas and renewable energy sources, the company said. Coinciding with an expected drop in output from many aging oilfields off the cost of Norway, Brazil is expected to become a core region for Equinor as the firm takes advantage of the country’s opening in recent years to more foreign investment.
Friday, August 31st 2018 - 08:22 UTC
BP, Shell, Total to bid in Brazil's pre-salt auction

Brazil’s oil regulator ANP has approved the applications of six companies—including Big Oil’s BP, Shell, and Total—to bid in next month’s oil auction of four blocks in the coveted pre-salt layer, ANP announced on Wednesday.
Friday, August 31st 2018 - 08:06 UTC
Bargain shopping for oil companies in Buenos Aires stock market

While the foreign exchange market in Argentina experienced a chaotic Thursday with no ceiling for the US dollar as locals dumped their Argentine pesos, the Argentine stock market witnessed another strong increase with the Merval index up 5.3% reaching 26.754,85 points, boosted mainly by the oil industry stocks.