Energy & Oil

• Wednesday, March 13th 2019 - 08:34 UTC

  Shell agrees offshore oil exploration contracts in Colombia

  

  Colombia’s government announced it had signed two exploration and production contracts with Shell in offshore areas of the Caribbean Sea that will require the company to make initial investments of US$ 100 million.

• Wednesday, March 13th 2019 - 08:27 UTC

  Argentina boosting natural gas output and plans pipeline to supply Buenos Aires

  

  Argentina’s efforts to boost its natural gas output and supply are progressing through new pipeline and transport projects and auctions, moves that are expected to balance the country’s production and demand, the energy secretary said on Monday.

• Saturday, March 9th 2019 - 09:26 UTC

  Venezuela comes to a halt as the blackout extends for a second day

  

  Venezuela shut schools and suspended the workday on Friday as the worst blackout in decades paralyzed most of the troubled nation for a second day, spurring outrage among citizens already suffering from hyperinflation and a crippling recession.

• Saturday, March 9th 2019 - 08:57 UTC

  World's largest sovereign fund, belonging to Norway, diversifying from oil

  

  Norway's US$ 1 trillion sovereign wealth fund is expected to sell some of its oil and gas holdings. The world's largest sovereign wealth fund owns US$ 37bn of shares in oil companies such as BP, Shell and France's Total.

• Friday, March 8th 2019 - 09:11 UTC

  Premier Oil reports 2018 profit as a result of record production

  

  UK-based oil and gas firm Premier Oil with interests in the Falkland Islands has announced its full-year results for 2018, reporting a post-tax profit hike to US$ 133.4m as a result of record production. These full-year results are a ‘return to profitability’ from 2017’s full-year loss of US$ 253.8m.

• Friday, March 8th 2019 - 08:44 UTC

  Major blackout in Venezuela; Caracas in complete darkness: “light will return when Maduro is removed”

  

  Most of Venezuela has been hit by a continuing electricity blackout that began on Thursday afternoon. The power cut plunged the capital Caracas into almost complete darkness during rush hour and has extended to the vast majority of the country.

• Thursday, March 7th 2019 - 08:43 UTC

  UK and industry plan 30% of electricity from offshore wind farms by 2030

  

  A deal confirmed between the UK government and the wind industry will ensure 30% of electricity comes from offshore wind by 2030. The move will help the UK towards the aim of securing almost all its power from low-carbon sources by 2030.

• Wednesday, March 6th 2019 - 10:15 UTC

  Colombia to begin oil exploration offshore in the Caribbean

  

  Colombia and its state-run oil company, Ecopetrol, announced they have signed an offshore exploration and production deal for a nearly 400,000-hectare (988,000-acre) bloc in the Caribbean, the country's first new oil and gas contract in more than four years.

• Wednesday, March 6th 2019 - 08:44 UTC

  S&P slashes credit rating of several leading Mexican companies including national oil Pemex

  

  Rating agency Standard & Poor’s (S&P) slashed the credit rating for Mexico’s national oil company Petroleos Mexicanos, or Pemex, piling more pressure on the government to tighten up the debt-laden oil firm’s finances.

• Tuesday, March 5th 2019 - 09:17 UTC

  Libyan main oilfield back in production in coming days

  

  Libyan state oil company NOC said on Monday it had lifted force majeure at the El Sharara oilfield, the country's biggest, which has been closed since December when state guards and tribesmen seized it.