Energy & Oil

Wednesday, July 24th 2019 - 23:55 UTC
Rockhopper divests from Egypt to concentrate in the Falklands' Sea Lion project

Oil and gas exploration firm Rockhopper Exploration, with interests in the Falklands and preparing to advance with the Sea Lion project, has agreed to sell its assets in Egypt to United Oil & Gas in a US$ 16m deal. The sale of Rockhopper Egypt includes a non-operated 22% interest in the Abu Sennan concession onshore Egypt and the existing assets of the business.
Wednesday, July 24th 2019 - 09:59 UTC
“Electromagnetic attack” behind massive power cut, Venezuelan minister explains

Venezuela's Communication and Information Minister Jorge Rodriguez Tuesday revealed that according to preliminary inquiries, the probable cause of the massive blackout on Monday, which hit most parts of Venezuela, including the capital Caracas, was “an electromagnetic attack.”
Tuesday, July 23rd 2019 - 09:51 UTC
Caracas and other regions of Venezuela hit by a massive power blackout

Caracas and other parts of crisis-wracked Venezuela were hit by a massive power cut on Monday foreign journalists and internet users said. The lights went out in most of Caracas at 4.41pm (2041 GMT) while people in other parts of the country took to social media to report the power had gone out there too.
Monday, July 22nd 2019 - 09:52 UTC
More Iranian bulk carriers stranded in Brazil, since Petrobras refuses to refuel them fearing US sanctions

Two more Iranian bulk carriers that came to Brazil carrying urea and were expected to return home with corn could be left without enough fuel, as Brazil's Petrobras refuses to provide them with bunker fuel due to U.S. sanctions.
Monday, July 22nd 2019 - 09:37 UTC
PM May last emergency meeting on Monday to address seizure of UK flagged oil tanker

Prime Minister Theresa May will hold a meeting of Britain's emergencies committee on Monday to discuss Iran's seizure of a UK-flagged oil tanker in the Gulf. In one of her final important acts as prime minister before resigning on Wednesday, May will chair a meeting of Britain's COBR emergencies committee at around 10.30am (0930 GMT), her Downing Street office said.
Monday, July 22nd 2019 - 09:25 UTC
IMO condemns tanker attacks in Strait of Hormuz and Sea of Oman

The Council of the International Maritime Organization (IMO) has condemned recent attacks on commercial shipping in the Strait of Hormuz and Sea of Oman at its meeting in London held from 15-19 July.
Friday, July 19th 2019 - 09:47 UTC
Chile reduces copper price projection for 2019 as China's demand slows down

Chile, the world's largest producer of copper, reduced on Thursday its price projection for the precious metal for 2019 from US$3.05 to US$2.89 per pound due to a drop in demand from the planet's largest consumer, China.
Friday, July 19th 2019 - 08:14 UTC
Two Iranian vessels stranded in Brazil with no fuel because of US sanctions

Two Iranian vessels have been stranded for weeks at Brazilian ports, unable to head back to Iran due to lack of fuel, which state-run oil firm Petrobras refuses to sell them due to sanctions imposed by the United States.
Thursday, July 18th 2019 - 12:51 UTC
Power cuts in Cuba not due to shortage of oil, minister says

The Cuban government Wednesday explained the repeated blackouts in the country but are due to breakdowns in the electricity-producing machinery and not because of a shortage of oil that can be attributed to sanctions by the United States.
Thursday, July 18th 2019 - 12:14 UTC
Montevideo gas workers lift strike after government's announcements

As the Uruguayan state has vowed to take over the administration of departing Montevideo cooking gas suppliers Montevideo Gas and Conecta and jobs have been secured, the UOEGAS workers' union has agreed to end the strike, starting this Friday.