Energy & Oil

• Thursday, September 17th 2015 - 09:40 UTC

  Repsol and BG group discover natural gas reserves in southern Bolivia

  

  President Evo Morales confirmed the discovery of new natural gas reserves at two adjacent fields in southern Bolivia that are managed by a consortium led by Spanish oil major Repsol. The Margarita and Huacaya fields are located in the Caipipendi block, in which Repsol and Britain's BG Group each has a 37.5% stake and Anglo-Argentine oil company Pan American Energy holds a 25% interest.

• Wednesday, September 16th 2015 - 09:18 UTC

  OPEC refuses to cut output pushing higher-cost oil producers out of the market

  

  The monthly report from the Organization of the Petroleum Exporting Countries said a weaker outlook for China would contribute to slower global oil demand growth next year. “U.S. oil production has shown signs of slowing,” OPEC said in the report. “This could contribute to a reduction in the imbalance of oil market fundamentals, however, it remains to be seen to what extent this can be achieved in the months to come.”

• Saturday, September 12th 2015 - 11:23 UTC

  Falklands' oil company unaware of reasons for share prices increase

  

  Falkland Oil and Gas Limited, the oil and gas exploration company focused on its extensive licence areas to the North, South and East of the Falklands islands, notes Friday's increase in the Company's share price and confirms that it is not aware of any reason that would lead to such a movement.

• Saturday, September 12th 2015 - 09:59 UTC

  UK offshore oil sector lost 65.000 jobs; industry's challenge: taking a barrel's operational cost to £15

  

  The contraction of Britain's offshore oil sector has already stripped out 65,000 jobs, according to a new report. The calculation of a 15% drop since the start of last year came from the annual economic impact report of trade body Oil and Gas UK.

• Wednesday, September 9th 2015 - 12:06 UTC

  The default next move for oil is downwards, and here's way

  

  By Martin Tillier of Oilprice.com - As traders, investors and pundits, we all like to think that what we do is akin to a science. We believe that by working harder and being smarter we can give ourselves an edge, that enough research will reveal to us the next move, either a long term trend or an intraday blip on a chart, and that we can profit from that knowledge

• Tuesday, September 8th 2015 - 06:24 UTC

  Maduro pledges a comprehensive PetroCaribe plan spanning 2015/2025

  

  Venezuelan President Nicolas Maduro has pledged to build a comprehensive plan for PetroCaribe, in the next ten years, spanning 2015-2025.

• Friday, September 4th 2015 - 09:00 UTC

  First oil production off Rio de Janeiro with FPSO 'Cidade de Itaguai', five months ahead of schedule

  

  MODEC Inc. announced on Thursday that its FPSO 'Cidade de Itaguai MV26', operating in the Iracema Norte area of Lula field, in the Pre-Salt layer of Santos Basin offshore Brazil, has achieved First Oil production on July 31, 2015, five months ahead of the schedule anticipated under the contract.

• Friday, September 4th 2015 - 08:26 UTC

  Falklands approves Noble and Premier plans to drill Rhea-1 and Jayne East

  

  The most recent meeting of the Falkland Islands' Executive Council (ExCo) was dominated by matters relating to oil exploration and development including recommendations for plans of Noble Energy and Premier Oil to go ahead with drilling of Rhea-1 and Jayne East wells.

• Thursday, September 3rd 2015 - 09:15 UTC

  China warns Delhi, “India should rethink its oil exploration plants”

  

  The state-run China Daily has said that India's plans to conduct oil exploration off Vietnam coast in the South China Sea is “illegal and is an ”unwise move“ that may ”sabotage” positive momentum in ties.

• Wednesday, September 2nd 2015 - 08:06 UTC

  Petrobras union announces an 'open-end' strike to protest investment cuts

  

  Brazil's largest oil workers' union advised Petrobras that it plans to begin an open-ended strike against the state-run oil company starting at midnight (0300 GMT) on Friday. The strike is in protest at a recent cut of about 40% in investments by Petrobras and the planned sale of about $15.1 billion of assets, the union, known as FUP, said in a statement on Tuesday.