Energy & Oil

• Tuesday, October 10th 2017 - 16:37 UTC

  China's Sinopec considering selling assets in Santa Cruz, Argentina

  

  Argentina’s losses on its oil and gas assets, as well as its labor disputes, have prompted China’s Sinopec to consider selling its operations in the country. Sinopec advisors have offered up some of its assets to about a dozen large firms from the U.S., Latin America, Europe, Africa, and Russia, it was reported on Monday and confirmed in Beijing media.

• Sunday, October 8th 2017 - 08:31 UTC

  Argentina preparing to auction offshore hydrocarbons exploration next year

  

  Argentina plans to auction offshore oil and gas exploration rights next year, in the hope of developing fields off its Atlantic coast like those in neighboring Brazil, the energy minister said on Thursday.

• Sunday, October 8th 2017 - 07:52 UTC

  Guyana en route to become a top oil producer in Latin America

  

  Exxon Mobil Corp. has discovered more oil on the Staborek block offshore Guyana, northeast South America, with the Turbot-1 well. ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Turbot-1 well on Aug. 14, 2017, and encountered a reservoir of 23 m of high-quality, oil-bearing sandstone in the primary objective.

• Thursday, October 5th 2017 - 09:23 UTC

  The next big offshore boom is about to happen...in Brazil

  

  By Irina Slav for Oilprice.com - Say what you will about offshore oil and gas exploration, but it's still alive and kicking—high production costs and all. The latest demonstration of the viability of deepwater projects, even in the post-2014 oil industry era, comes from none other than Brazil.

• Wednesday, October 4th 2017 - 08:22 UTC

  Petrobras controversy: Brazil denies any current plans to privatize the company

  

  A senior official in Brazil said there are no current plans to privatize the national oil company to deal with its massive debt, according to a new report by Reuters. Fernando Coelho Filho, the minister of mines and energy, had suggested that Petrobras could face such a sale in the future, but did not provide a concrete timeline.

• Tuesday, September 26th 2017 - 07:58 UTC

  Argentina to suspend fuels price-setting system in October

  

  The government of Argentina is planning to suspend a price-setting system for domestic fuel sales next month thanks to the recent rise in global oil prices, the country’s energy and mining minister said Monday.

• Thursday, September 21st 2017 - 07:24 UTC

  Hurricane Maria's 250km strong winds knock out Puerto Rico, St Croix, and Guadeloupe

  

  Hurricane Maria has knocked out power to the entire island of Puerto Rico, home to 3.5m people, emergency officials have said. Abner Gomez, head of the disaster management agency, said none of the customers of Puerto Rico's Electric Power Authority had any electricity.

• Wednesday, September 20th 2017 - 22:26 UTC

  Petrobras recovers significant investment risk and trims debt burden

  

  Petrobras raised US$2 billion from the sale of seven- and 10-year securities, replacing more expensive shorter-dated bonds as it seeks to trim a debt burden that is the largest among major oil firms. Petrobras sold US$1 billion each worth of senior unsecured bonds due in 2025 and 2028, respectively. Market experts said Petrobras sold the January 2025 bond at a yield of 5.3%, and the January 2028 bond at 6%.

• Wednesday, September 20th 2017 - 08:12 UTC

  Offshore oil exploration takes off in Argentina at the Malvinas Basin

  

  Searcher Seismic has made its entry into Argentina with four new multi-client projects. Beginning in phases, the first phase comprises of an offshore basin analysis report providing a regional framework to understand the offshore basins of Argentina, assisting industry’s exploration efforts.

• Tuesday, September 19th 2017 - 09:48 UTC

  Venezuela “free of the dollar tyranny” publishes oil and fuel prices in Chinese Yuan

  

  Venezuela published the price of its oil and fuel in Chinese currency on Friday in what it called an effort to free the socialist-run country from the “tyranny of the dollar,” echoing a plan recently announced by President Nicolas Maduro.