Energy & Oil

• Friday, March 16th 2018 - 10:24 UTC

  Argentina gradually organizing natural gas production and consumption priorities

  

  Argentina plans to increase natural gas exports to Chile, helping to encourage production growth in the giant Vaca Muerta shale play, while importing supplies from that country to meet peak demand, Energy Minister Juan Jose Aranguren said on Thursday.

• Friday, March 16th 2018 - 09:41 UTC

  Argentina preparing its first offshore licensing round in the South Atlantic

  

  Argentina plans to launch its first offshore licensing round in almost three decades this year, as it seeks to widen exploration for longer-term production growth, Energy Minister Juan Jose Aranguren said on Thursday.Round One will be launched in June or July for 240,000 sq km in three zones of the continental shelf, Aranguren said on the sidelines of The Economist's Argentina Summit in Buenos Aires.

• Tuesday, March 13th 2018 - 09:31 UTC

  Argentine envoy in Washington to negotiate exemption of higher metal tariffs

  

  Argentina's Commerce Secretary Miguel Braun travelled to Washington to negotiate an exemption to the higher tariffs recently placed on steel and aluminum imports by the Donald Trump administration.

• Friday, March 9th 2018 - 09:41 UTC

  Global shipping rules to cut sulfur pollution anticipate higher volatility in fuel markets

  

  Global hydrocarbons companies and traders are bracing for higher volatility in fuel markets as they expect refiners to process more light crude oil in the lead-up to new rules aimed at slashing the use of dirty high-sulfur fuel oil in global shipping.

• Wednesday, March 7th 2018 - 09:45 UTC

  Exxon-Mobil hits oil jackpot offshore Guyana: future production of 500.000 bpd

  

  United States-based oil giant ExxonMobil says the latest oil discovery in Guyana will help bring production to more than 500,000 barrels per day. In a statement, the oil company said that it was satisfied with the discovery in the Pacora Well that was safely drilled to a depth of 18,363 feet in 6,781 feet of water. It said drilling began on January 29 this year.

• Wednesday, March 7th 2018 - 09:40 UTC

  Venezuela oil production 1.5 million bpd short of its historic output

  

  Venezuela’s oil production is running 1.5 million barrels per day (bpd) short of its historic output but it is something that the country must address itself, Ecuador oil minister Carlos Perez said. Caracas should address the shortfall on its own, added Perez on the sidelines of the CERAWeek energy conference in Houston.

• Wednesday, March 7th 2018 - 09:36 UTC

  US shale oil output surge set to influence world market in next five years

  

  United States shale oil output is set to surge over the next five years as drillers recover rapidly from a three-year slump, the International Energy Agency said, sharply upgrading its previous growth forecasts. A landmark deal in 2017 between OPEC and other oil producers including Russia to curb output in order to battle a global glut materially improved the outlook for other producers as oil prices rose sharply throughout the year, the IEA said.

• Wednesday, March 7th 2018 - 09:30 UTC

  YPF plans shale oil and gas production to increase 35% during 2018

  

  Argentina’s state-owned oil company YPF SA expects shale oil and gas production to grow 35% in 2018, as costs in the Vaca Muerta shale play continue to fall, Chief Financial Officer Daniel Gonzalez said. Still, declining production in mature fields means overall hydrocarbon output will fall 2 to 3% in 2018 after a 5.3% reduction in 2017, Chairman Miguel Gutierrez said.

• Monday, March 5th 2018 - 09:19 UTC

  YPF recovers from 2016 and posts full year profit of US$ 627m for 2017

  

  Argentina’s state-owned oil company YPF SA posted a full-year 2017 profit of 12.7 billion pesos (US$ 627.16 million), the company said, rebounding from a 28.4 billion-peso loss in 2016.

• Monday, March 5th 2018 - 08:25 UTC

  Beware: OPEC and US shale industry scheduled to meet and share dinner in Houston

  

  Oil prices rose early on Monday ahead of a meeting between OPEC and U.S. shale firms in Houston, raising expectations that oil producers would discuss further how to clear a global oil glut. Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) and other global oil players are set to gather in Houston as CERAWeek, the largest energy industry conference, begins on Monday.