Energy & Oil

Wednesday, May 8th 2019 - 08:56 UTC
BHP Billiton facing US$ 5 billion claim for damages over a dam collapse in Brazil

Mining giant BHP Billiton is facing a US$5bn claim for damages over a dam collapse in Brazil in 2015. Law firm SPG, which is representing than 200,000 Brazilian claimants, said the company “knew of the risks” at the Samarco mine in Minas Gerais state.
Monday, May 6th 2019 - 09:34 UTC
Brazil's best performing hedge funds bet heavily on Petrobras

One of Brazil’s best-performing hedge funds has been scooping up the shares of state-controlled oil giant Petrobras. Joao Braga and Marcos Peixoto, who manage US$ 1.3 billion (5 billion reais) at XP Asset Management, have increased their stake in Petrobras, making it the biggest holding of their XP Long Biased fund even as the oil producer’s rally has outpaced the benchmark.
Monday, May 6th 2019 - 09:30 UTC
Petrobras oil production fell 3.5% during the first quarter compared to a year ago

Petrobras oil production fell 3.5% in the first quarter from the same period a year before, according to Brazil’s oil regulator ANP, which attributed the fall to a number of scheduled and unscheduled stoppages.
Friday, May 3rd 2019 - 09:55 UTC
“Falklands must be proud of their healthy and vibrant democracy”, says BFSAI commander

Penguin News caught up with the Commander of British Forces for the South Atlantic Islands, Brigadier Nick Sawyer stationed in the Falkland Islands.
Friday, May 3rd 2019 - 09:14 UTC
Chevron completes purchase of controversial Petrobras refinery in Houston

Chevron Corp completed a US$ 350 million purchase of a refinery in the Houston suburb of Pasadena, Texas, from Brazil’s Petrobras, Chevron said in a statement. The sale was agreed to in January, but Chevron put the transfer of the 112,229-barrel-per-day plant’s ownership on hold on April 2, telling Petrobras it had to prove the refinery would operate as promised.
Monday, April 29th 2019 - 08:56 UTC
Argentine mining investments expected to reach US$ 29 billion this year

The Argentine Chamber of Mining Entrepreneurs issued a report this week stating that it expects mining industry investments to reach US$ 29 billion and employ about 80,000 people in 2019.
Saturday, April 27th 2019 - 09:38 UTC
Petrobras details divestment list including refineries; Bolsonaro open to privatization of oil company says minister

Brazil's state-controlled oil company Petrobras on Friday for the first time detailed long-awaited plans to sell a series of refineries and other assets as the company focuses on its core oil and gas exploration business.
Friday, April 26th 2019 - 05:59 UTC
Guyana oil jackpot: ExxonMobil has made its 13th discovery offshore

The find was made at the Yellowtail-1 Well and represents the third discovery for this year and the fifth in the Turbot area, where ExxonMobil is evaluating its potential as an additional development hub.
Wednesday, April 24th 2019 - 09:11 UTC
Petrobras transparency: discloses fuel prices to head off a strike by independent truckers

Brazil's state-controlled Petrobras started publishing daily wholesale gasoline and diesel prices at each of the company's 37 points of sale, the latest step aimed at heading off a strike by independent truck drivers.
Tuesday, April 23rd 2019 - 09:11 UTC
Bolivia considering exporting natural gas from liquefaction terminals in Argentina

Bolivia is looking at exporting natural gas globally through liquefaction terminals to be built in Argentina, and to buy crude from its southern neighbor, Bolivian President Evo Morales said on Monday, a move that would compensate for dwindling sales of its main export to Argentina and Brazil.