Energy & Oil

• Tuesday, September 25th 2018 - 08:37 UTC

  Argentina plans offshore licensing round in the South Atlantic next October

  

  Argentina plans to launch a delayed offshore licensing round in October as it seeks to explore a large frontier region in the South Atlantic for potential oil and natural gas production growth in the future. This was announced to oil executives in Houston by Argentina's energy secretary Javier Iguacel.

• Tuesday, September 25th 2018 - 07:45 UTC

  Oil market turbulence ahead of US sanctions on Iran; OPEC meeting does not plan to increase output

  

  Brent crude breached US$ 81 a barrel on Monday — its highest level in nearly four years — on the back of a tightening oil market and OPEC leaders signaling they won't be immediately boosting output. Global benchmark Brent crude rose as high as US$ 81.39 a barrel, its strongest level since Nov. 21, 2014.

• Monday, September 24th 2018 - 09:15 UTC

  Petrobras plans to increase output 10% next year to some 2.3 million bpd

  

  Brazil’s state-run oil giant Petrobras aims to raise output as much as 10% to around 2.3 million barrels per day (bpd) in 2019 and cut net debt by US$10 billion, according to Chief Financial Officer Rafael Grisolia. The world’s most indebted oil company is on course to reduce debt to US$ 69 billion by the end of this year despite falling short of its US$ 21 billion asset sales target, Grisolia pointed out.

• Friday, September 21st 2018 - 09:03 UTC

  Falklands could allow floating hotels for oil industry workers

  

  An outline planning application submitted to the Falkland Islands Government, FIG, is seeking approval in principle for the siting of a floating accommodation barge in Stanley Harbor.

• Thursday, September 20th 2018 - 06:52 UTC

  Falklands Sea Lion development on track to begin offshore operations

  

  Negotiations continue with service providers for the Premier Oil-operated Sea Lion development in the offshore North Falkland basin. According to partner Rockhopper Exploration, Phase 1 will develop around 220 MMbbl in license PL032 and a further 300 MMbbl from the license’s remaining resources under Phase 2.

• Wednesday, September 19th 2018 - 08:11 UTC

  China agreed to invest US$ 5bn in Venezuelan oil, alleges Maduro

  

  Venezuelan President Nicolas Maduro said on Tuesday that new investments from China will help his country dramatically boost its oil production, doubling down on financing from the Asian nation to turn around its crashing economy.

• Friday, September 14th 2018 - 09:07 UTC

  US, the world's top crude oil producer, but global geopolitical uncertainty prevails

  

  The U.S. Energy Information Administration (EIA) said that the U.S. likely surpassed Saudi Arabia and Russia earlier this year to become the world’s top crude oil producer. The EIA based its disclosure on preliminary estimates in its Short Term Energy Outlook which is released every month.

• Wednesday, September 12th 2018 - 08:45 UTC

  Brexit fears: UK oil and gas industry concerned about contracting skilled workers

  

  Oil and gas platforms could have to be shut down if a deal on Brexit leads to difficulties accessing skilled workers, according to an industry report. The warning comes in Oil and Gas UK's latest economic report which said delays in accessing labor markets from EU countries have the potential, in some instances, of leading to production being shut in.

• Tuesday, September 11th 2018 - 09:29 UTC

  El Niño 2018/19 could be a repeat of 2015/16, cautions WMO

  

  There's a 70% chance of a recurrence of the El Niño weather event before the end of this year, according to the World Meteorological Organization. The last El Niño occurred in 2015-16 and impacted weather patterns around the world, but researchers say they are not expecting this new one to be as intense as 2015-16.

• Tuesday, September 11th 2018 - 08:59 UTC

  Argentina organizing to become a leading exporter of natural gas

  

  Argentina's biggest natural gas transporter, Transportadora de Gas del Sur, and Texas-based Excelerate Energy, signed on Monday a memorandum of understanding to evaluate building the country's first liquefaction plant, as rising natural gas production fuels export prospects.