Energy & Oil

Saturday, December 12th 2015 - 06:56 UTC
Petrobras not selling any stake of its giant Libra offshore oil prospect

Petrobras, is not considering selling a 10% stake in its giant Libra offshore oil prospect at this time, Brazil's state-run oil company said on Friday. Petrobras was responding to a report on Tuesday that industry sources had been told by the company that the Libra stake was on offer.
Friday, December 11th 2015 - 12:04 UTC
Venezuelan subsidized oil sales to the Petrocaribe program on a tight rope

If the newly elected Venezuelan National Assembly votes to cancel that country's program of subsidized oil sales to Caribbean and Central American nations, the United States will not be able to substitute U.S. oil for Venezuelan oil, a senior U.S. official warned this week.
Wednesday, December 9th 2015 - 08:38 UTC
Oil prices plummet to seven-year lows on global supply glut

Oil prices slid on Tuesday, approaching seven-year low points on a global supply glut and weak demand growth. Crude futures had already slumped Monday after the OPEC oil producers cartel last week refused to slash record high output, in a market dogged by oversupply.
Saturday, December 5th 2015 - 06:50 UTC
Oil futures fall sharply after OPEC agrees to keep 'current actual production'

Oil futures fell sharply Friday, with the U.S. benchmark settling below $40 a barrel after the Organization of the Petroleum Exporting Countries agreed to keep pumping crude at current production levels despite a global glut.
Thursday, December 3rd 2015 - 07:55 UTC
Total contracts Maersk drillship to spud well offshore Uruguay next March

Maersk Drilling has been awarded a contract for the drillship Maersk Venturer with oil major France's Total. The contract covers one exploration well (estimated duration 120 days) in block 14 offshore Uruguay.
Wednesday, December 2nd 2015 - 10:45 UTC
Brazilian economy contracts a record 4.5% in the last twelve months

Brazil's economy, in recession since mid-year, contracted 1.7% in the third quarter, compared to the April-June period, and decreased 4.5% relative to the same period in 2014, the Brazilian Institute of Geography and Statistics, or IBGE, said on Tuesday.
Tuesday, December 1st 2015 - 07:32 UTC
Petrobras board chairman resigns; apparent disagreements with CEO Bendine

Murilo Ferreira has resigned as chairman of Brazilian state oil company Petrobras, the firm said Monday. Ferreira, the CEO of mining giant Vale, took a leave of absence in September and Luiz Nelson Guedes de Carvalho, who has served as interim chairman since then, will continue in that role for the moment, the company said in a brief statement.
Friday, November 27th 2015 - 15:22 UTC
Oil jobs lost: 250.000 and counting, Texas likely to see massive layoffs soon

Crude oil just capped off a third straight week of declines, as WTI nears the $40 per barrel threshold. Goldman Sachs is once again raising the possibility of oil dipping into the $20s per barrel. That spells more pain for the energy sector. Many companies have already slashed spending and culled their payrolls, but the total number of job losses continues to climb.
Thursday, November 26th 2015 - 08:23 UTC
Brazil in shock: a leading senator and billionaire fund manager arrested for obstructing justice

Brazil is in shock following the arrest by police on Wednesday of a senior ruling-party senator and a billionaire investment banker in the intensifying probe of a huge corruption network centered on state oil giant Petrobras.
Wednesday, November 25th 2015 - 07:50 UTC
Falklands' oil industry deal: Rockhopper will take over FOGL for £57.1m

Falkland Islands oil & gas explorer Rockhopper Exploration is launching a £57.1mln takeover of rival Falkland Oil & Gas. Rockhopper and FOGL have agreed a recommended all-share merger resulting in Rockhopper holding 65% of the enlarged group and FOGL owning the rest.