Energy & Oil

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.
Tuesday, September 11th 2018 - 08:13 UTC
Argentina raises 17% price of biodiesel used in domestic fuel mixes

Argentina raised the price of biodiesel used in domestic fuel mixes in response to a sharp devaluation in the Peso currency and new taxes on primary exports, the government said in its official gazette on Monday.
Monday, September 10th 2018 - 08:37 UTC
World's largest working offshore wind farm opens off the coast of Cumbria

The world's largest working offshore wind farm - covering an area equal to 20,000 football pitches - has opened off the coast of Cumbria, north west England. The £1bn Walney facility already had 102 turbines before the completion of a further 87 earlier this year - dubbed the Walney Extension.
Friday, August 31st 2018 - 08:29 UTC
Norway's Equinor plans to invest US$ 15bn in Brazil's oil, gas and renewables

Norway's Equinor will invest up to US$ 15 billion in Brazil over the next 12 years to develop oil, gas and renewable energy sources, the company said. Coinciding with an expected drop in output from many aging oilfields off the cost of Norway, Brazil is expected to become a core region for Equinor as the firm takes advantage of the country’s opening in recent years to more foreign investment.
Friday, August 31st 2018 - 08:22 UTC
BP, Shell, Total to bid in Brazil's pre-salt auction

Brazil’s oil regulator ANP has approved the applications of six companies—including Big Oil’s BP, Shell, and Total—to bid in next month’s oil auction of four blocks in the coveted pre-salt layer, ANP announced on Wednesday.
Friday, August 31st 2018 - 08:06 UTC
Bargain shopping for oil companies in Buenos Aires stock market

While the foreign exchange market in Argentina experienced a chaotic Thursday with no ceiling for the US dollar as locals dumped their Argentine pesos, the Argentine stock market witnessed another strong increase with the Merval index up 5.3% reaching 26.754,85 points, boosted mainly by the oil industry stocks.
Thursday, August 30th 2018 - 09:10 UTC
Argentina aims to double shale gas production in five years

Argentina re-launched a one-year-old agreement between the government, companies and workers to drive competition and spur development in the Vaca Muerta shale play, the government said in a statement.
Sunday, August 26th 2018 - 18:50 UTC
Tankers with US diesel diverted to Brazil following a fire in a Sao Paulo refinery

At least four tankers loaded with ultra-low-sulfur diesel (ULSD) en route from the U.S Gulf Coast to Europe abruptly changed course this week to Brazil, following a fire at a 415,000-bpd refinery of state oil firm Petrobras on Monday, S&P Global Platts trade flow data showed on Friday.
Thursday, August 23rd 2018 - 08:33 UTC
First container vessel attempting the melting Arctic sea route north of Russia

Danish vessel setting sail from Vladivostok this week is set to become the first container ship to tackle the Arctic sea route north of Russia. The Venta Maersk, owned by Maersk Line, and carrying 3,600 containers, hopes to reach St Petersburg by late September. That could be up to 14 days faster than the southern route via the Suez Canal.