Energy & Oil

• 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.

• Wednesday, August 22nd 2018 - 08:49 UTC

  Oil price war to begin: Saudi Arabia and Iran reignites the market

  

  The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil.

• Monday, August 13th 2018 - 18:53 UTC

  Venezuela appealing US$ 1.4bn compensation ruling, threatening Citgo

  

  Venezuelan state oil company PDVSA is appealing a decision allowing Canadian miner Crystallex to take control of shares in U.S. subsidiary PDV Holdings as part of a 10 year dispute over the state takeover of Crystallex assets, a court filing shows.

• Monday, August 13th 2018 - 07:19 UTC

  UK embassy supporting program to help Brazil's energy goals

  

  As part of the UK Government’s Prosperity Fund, the British Embassy in Brazil is commissioning a study to assess various options for the governance structure of an Energy Centre to inform and support the Prosperity Fund Energy Program.