Energy & Oil

• Thursday, May 25th 2017 - 19:07 UTC

  Today's stunted oil prices could cause oil price shock in 2020

  

  As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil's immediate future. As Saudi Arabia announces plans to slash production and move their economy away from oil dependency, many industry insiders are predicting that the now over-saturated market will reach an equilibrium with higher commodity prices by 2018 and U.S. shale production will continue to grow along with global demand.

• Thursday, May 18th 2017 - 17:36 UTC

  YPF targets US$ 10 cost per barrel at Vaca Muerta shale deposits, by end of 2018

  

  Argentina's oil corporation YPF plans to match United States costs in developing non conventional energy, by the end of 2018. This refers to the very rich shale deposits of Vaca Muerta, with a target of 10 dollars per barrel and for this purpose it has started a program of experimental drillings.

• Wednesday, May 17th 2017 - 15:53 UTC

  Petrobras performance improving: largest quarterly earnings in two years

  

  Brazilian state-controlled oil company Petrobras reported its largest quarterly earnings in two years as crude prices rose and the government allowed it to sell fuel at a profit in the domestic market. Petrobras posted a 4.5 billion reais net profit (US$ 1.4bn) in the January to March period, reversing a 1.25 billion reais loss (US$ 400 million) in the first three months of 2016.

• Sunday, May 14th 2017 - 09:27 UTC

  YPF crude and gas output expected to decline 3% in 2017, due to labor problems and bad weather

  

  Argentina's state-run oil firm YPF expects a 3% decline in crude and natural gas output this year due to labor problems and bad weather, Chief Financial Officer Daniel Gonzalez told investors during a conference call in Buenos Aires.

• Saturday, May 6th 2017 - 12:17 UTC

  Argentina and China will sign contract to construct two nuclear powered plants

  

  Argentina and China will sign next 17 May in Beijing a contract for the construction of two new nuclear powered plants, with an investment of US$ 12.5 billion, according to Argentina's Nuclear energy deputy secretary, Julian Gadano.

• Friday, May 5th 2017 - 08:30 UTC

  Falklands oil exploration: Maersk denies in Argentine court any involvement since 2011

  

  Danish shipping company Maersk has denied involvement in any offshore exploration/exploitation activities in the Falkland Islands, since specific legislation was passed by the Argentine congress. The Argentine Chamber of Tugs accused the Danish company of violating legislation referred to oil industry operations in the disputed South Atlantic Islands.

• Thursday, May 4th 2017 - 06:23 UTC

  Argentina contracts 2D seismic survey in deep waters covering 435,000 sq km

  

  Norway's Spectrum has started a 35,000 km multi-client 2D seismic survey covering 435,000 km2 in the deep waters of Argentina in cooperation with YPF. The survey will provide industry with the first ever detailed seismic grid over this under-explored frontier area of Argentina, allowing for basin-wide studies of the area as well as prospect/lead level interpretation studies for upcoming license rounds.

• Thursday, May 4th 2017 - 05:44 UTC

  Petrobras reveals Libra field achieves a breakeven price of US$ 35/bbl

  

  Brazil's oil and gas company Petrobras shared innovations and efficiency gains related to the Libra field at the Offshore Technology Conference (OTC) in Houston. Petrobras revealed collaboration between Libra area partners has produced a US$13/bbl reduction to the project's breakeven price.

• Tuesday, May 2nd 2017 - 07:07 UTC

  US Supreme Court rules in favor of Venezuela in dispute with US oil drilling company

  

  The U.S. Supreme Court on Monday tossed out a lower court's ruling that had allowed a US oil drilling company to sue Venezuela over the seizure of 11 drilling rigs in 2010 but allowed the business another chance to press its claims.

• Saturday, April 22nd 2017 - 09:15 UTC

  ExxonMobil betting heavily in developing Argentina's Vaca Muerta shale gas

  

  ExxonMobil is planning to speed up investment plans for shale gas drilling in Argentina’s prized Vaca Muerta formation in the Neuquen province. Exxon will start drilling Vaca Muerta in May, by drilling horizontal wells with laterals of 2,500-3,000 meters, Neuquen province governor Omar Gutierrez said this week.