Energy & Oil

• Tuesday, October 6th 2015 - 10:17 UTC

  BP agrees to pay 20bn dollars to settle claims with Gulf of Mexico 2010 oil spill

  

  Oil giant BP has agreed to pay $20bn to settle claims with the US stemming from the company's Deepwater Horizon oil spill. An explosion on BP's deep-water drill, off the coast of Louisiana in 2010 killed 11 workers.

• Friday, October 2nd 2015 - 05:42 UTC

  Italian oil giant ENI to attempt oil production in the Norwegian Arctic

  

  As Shell retreats from the Arctic, the Italian oil giant Eni is making final preparations for its own oil exploration venture in the Norwegian Arctic, reports the UK media. Eni has vowed to press ahead with oil production ($5.5bn project), in the Norwegian Arctic, by the end of the year, undeterred by Shell’s decision to abandon its quest for Arctic oil.

• Thursday, October 1st 2015 - 08:51 UTC

  Petrobras hikes gasoline and diesel prices to help with the company's finances

  

  Brazil's state-controlled Petrobras unexpectedly increased wholesale gasoline and diesel prices in the domestic market, potentially widening a controversial premium to international prices. The heavily indebted company said that the gasoline price would increase by 6%, and diesel by 4%, as of this Wednesday.

• Monday, September 28th 2015 - 10:57 UTC

  Shell stops Arctic oil exploration following 'disappointing' results

  

  Royal Dutch Shell has stopped Arctic oil and gas exploration off the coast of Alaska after “disappointing” results from a key well in the Chukchi Sea. In a surprise announcement, the company said it would end exploration off Alaska “for the foreseeable future”.

• Sunday, September 27th 2015 - 09:37 UTC

  Major offshore drilling company accused of involvement in Petrobras scandal

  

  Transocean Ltd., a top offshore drilling company, has been mentioned in testimony in a corruption investigation focused on Brazil's state-run Petrobras, Brazilian court documents showed.

• Saturday, September 26th 2015 - 08:03 UTC

  Petrobras increases LPG price 11% for commercial and industrial clients

  

  Petrobras announced that the price of liquefied petroleum gas (LPG) for commercial and industrial clients has risen 11%, effective midnight Friday. The company said the increase does not affect the price of LPG sold in smaller containers for residential uses such as household cooking, which rose 15% on September first.

• Saturday, September 26th 2015 - 07:43 UTC

  Falklands' oil companies agree to resume drilling at successful Sea Lion prospect

  

  Falkland Oil and Gas PLC on Friday announced it has agreed with Rockhopper Exploration PLC and Premier Oil PLC to drill another well on the Isobel/Elaine complex to replace the planned Jayne East well.

• Wednesday, September 23rd 2015 - 08:22 UTC

  Falklands Argos completes farm-out agreement with Noble and Edison

  

  Falklands focused Argos Resources Limited confirmed the completion by its wholly owned subsidiary, Argos Exploration Limited of a farm out agreement with Noble Energy Falklands Limited and Edison International S.p.A in respect of its Licence PL001.

• Thursday, September 17th 2015 - 20:25 UTC

  Methanol production resumes in Magallanes with ENAP natural gas

  

  Chile's government petroleum company, ENAP, announced that based on the production success of its Arenal block in the extreme south of the country, it has reached a natural gas supply agreement with Methanex, the Canadian methanol plant next to Punta Arenas which is one of the region's leading industries.

• Thursday, September 17th 2015 - 09:45 UTC

  Petrobras oil/gas production in August sets new records; subsalt output up 61% in twelve months

  

  Brazil's state-controlled Petrobras produced a record 2.69mn b/d of oil equivalent (boe/d) in August, 3.1% increase over July and almost 1% higher than the previous 2.67mn boe/d record set in December 2014, the company said on Wednesday.