Energy & Oil

Thursday, January 22nd 2015 - 11:36 UTC
Oil price collapse hurting some more than others

U.S. oil and gas rig counts dropped to their lowest level in over four years, falling by an additional 74 units for the week ending on January 16. The lower count provides fresh evidence that low oil prices are forcing drillers to pare back operations and slash spending.
Tuesday, January 20th 2015 - 05:48 UTC
Party is over in Brazil: increase in fuel, tax on consumer loans and imports

Brazil on Monday announced tax increases on fuel, imports and consumer loans aimed at raising 20.6 billion Reais (7.7bn dollars) in additional revenues this year. The plan is part of an effort to help balance budget accounts and revive investor confidence, Finance Minister Joaquim Levy said at a news conference.
Tuesday, January 20th 2015 - 05:27 UTC
Heat wave in Brazil forces power cuts; to recover fragile system rates could increase by 60%

Rolling blackouts swept across parts of Brazil as the grid operator ordered select power cuts to avoid a larger crisis, drawing attention to a fragile electric system that is buckling under the strains of record-breaking heat and dryness.
Saturday, January 17th 2015 - 08:00 UTC
Petrobras CEO confirmed in the job by the Energy minister

Brazil’s energy minister this week threw his support behind the CEO of Petrobras, the embattled state-run oil company embroiled in a vast corruption scandal that has dominated national headlines. Maria das Graças Silva Foster will keep her job as CEO, the minister said, despite growing demands for her resignation.
Saturday, January 17th 2015 - 07:49 UTC
Petrobras corruption scheme could reach 28bn dollars according to police

The corruption scheme in Brazil's leading corporation Petrobras could exceed 28 billion dollars, making it the largest corruption scandal that the country has ever seen. The development was reported through an interview by Reuters of Brazilian police officer, Erika Marena, investigating the corruption probe.
Friday, January 16th 2015 - 05:23 UTC
YPF increased output during 2014; refinery strike threatens supply of fuel

YPF's oil and natural gas production rose in 2014 for the second year running, Argentina's state-run energy company said on Thursday. Oil production rose 8.7% last year, while gas output was up 12.5%, YPF said, although the company did not publish annual output volume.
Thursday, January 15th 2015 - 08:13 UTC
Five ways to play the oil price plunge

The collapse of the oil price has created losers and winners, and like every major movement in a commodity sector, the trick for investors is figuring out which side of the trade to be on.The most obvious victim of the slide in Brent and WTI prices over the last 6 months has been the major oil producers. Holders of these equities have seen price slides up to 33%.
Thursday, January 15th 2015 - 05:09 UTC
Premier drastically cuts spending; Falklands projects included in 2015 agenda

UK hydrocarbons producer Premier Oil with strong interests in the Falklands expects to book a 300 million dollars impairment charge due to the plunge in oil prices and plans to cut jobs and investment by 40% compared to 2014, to rein in costs, it said on Wednesday.
Wednesday, January 14th 2015 - 07:47 UTC
OPEC member stands by group's decision not to cut output to tackle glut

Brent and US WTI crude oil prices fell to their lowest levels in almost six years on Tuesday as a big OPEC producer stood by the group's decision not to cut output to tackle a glut in the market.
Tuesday, January 13th 2015 - 08:56 UTC
The real cause of low oil prices: Interview with Arthur Berman

With all the conspiracy theories surrounding OPEC's November decision not cut production, is it really not just a case of simple economics? The U.S. shale boom has seen huge hype but the numbers speak for themselves and such overflowing optimism may have been unwarranted. When discussing harsh truths in energy, no sector is in greater need of a reality check than renewable energy.