Energy & Oil

Saturday, May 12th 2018 - 09:37 UTC
Leading global oil companies interested in Argentina offshore blocks auction

Oil firms, including Norway’s Statoil, U.S.’ Anadarko Petroleum Corp, China’s CNOOC and Malaysia’s Petronas, have shown interest in Argentina’s auction this year of offshore blocks for exploration and production, the country’s energy minister said.
Saturday, May 12th 2018 - 07:31 UTC
Falklands' Premier Oil figures commissioning three FPSOs in next seven years, reports GlobalData

South America, including the Falkland Islands, has the highest number of planned and announced floating production, storage, and offloading units (FPSOs) to be commissioned by 2025, according to a report by GlobalData. World wide 74 planned and announced FPSOs are set to become operational for the outlook period between 2018 and 2025.
Tuesday, May 8th 2018 - 08:14 UTC
Oil rises to US$ 70 a barrel, ahead of Trump's Tuesday decision on sanctions to Iran

Oil prices rose for the fourth straight day on Monday to hit levels not seen since late 2014, boosted by the latest trouble for Venezuelan oil company PDVSA and the possibility that the United States could re-impose sanctions on Iran.
Saturday, May 5th 2018 - 09:15 UTC
When Will Electric Cars Take Over The Roads?

The age of the electric vehicle (EV) will be here sooner than you think.
Wednesday, May 2nd 2018 - 08:31 UTC
Petrobras increases offshore production: plans an extra million bpd output next year

Brazil’s state-controlled Petrobras expects oil production to start by the end of June at its Tartaruga Verde e Mestica offshore platform, the second of seven facilities planned to be installed this year, a company executive said on Monday.
Monday, April 30th 2018 - 08:11 UTC
UK crackdown on money laundering: SLPs channeled US$ 80bn out of Russia

The UK Government is to launch a new crackdown on money laundering amid warnings that a century old business scheme designed to help Scottish farmers is being exploited by foreign criminals. Scottish limited partnerships (SLPs) were first created in 1907 for farm holdings, but ministers say their legal structure makes them attractive money laundering vehicles for international crime groups.
Saturday, April 28th 2018 - 11:10 UTC
US oil company wins arbitration and Venezuela's PDVSA must pay US$ 2.04bn

An international arbitration court has ordered Venezuela’s oil company PDVSA to pay ConocoPhillips US$ 2.04 billion for early dissolution of two joint ventures for producing oil in the OPEC-member country, the U.S. firm said.
Wednesday, April 25th 2018 - 08:59 UTC
Brazilian company buys Shell downstream assets in Argentina

Brazil’s Raizen Combustiveis SA agreed to buy downstream assets in Argentina from Royal Dutch Shell for US$ 950 million, according to a securities filing on Tuesday. Raízen Combustiveis, a joint venture between Brazil´s Cosan SA Indústria e Comércio and Shell, will have a 20% market share in fuel distribution in Argentina.
Tuesday, April 24th 2018 - 08:42 UTC
Brazil poised for historic oil boom

By Mathew Smith<br />
<br />
After being caught up in major corruption scandals and suffering from what some have claimed was its worst economic downturn in 100-years, Brazil has pulled itself back from the brink. The economy commenced growing again in 2017 with gross domestic product (GDP) expanding by 1 percent and 2018 GDP growth forecast by the International Monetary Fund (IMF) to be 2.3%.
Thursday, April 19th 2018 - 08:12 UTC
Drilling near the mouth of the Amazon banned by Brazil's environmental regulator

The public prosecutor’s office in the northern state of Amapá recommended on Wednesday that Brazil’s environmental regulator Ibama deny French major Total a license to drill for oil near the mouth of the Amazon.