Energy & Oil

• Saturday, November 11th 2017 - 08:55 UTC

  YPF will relocate investment from natural gas to crude oil, because of changes in subsidies policy

  

  Argentina's state-run oil company YPF is “disappointed” by cuts to the government's natural gas production subsidies and will re-allocate investment toward crude oil production.

• Wednesday, November 8th 2017 - 10:50 UTC

  Oil markets settle lower, but prospects are in place for prices to continue climbing

  

  Oil settled lower on Tuesday after rising to the highest since July 2015 the previous day, while tension flared between Saudi Arabia and Iran, and the Saudi crown prince tightened his grip on power.

• Wednesday, November 8th 2017 - 05:06 UTC

  Mexico strikes its biggest onshore oil discovery in 15 years; production should begin in 2019

  

  Mexico’s national oil company Pemex has made its biggest onshore oil discovery in 15 years with a find in the eastern state of Veracruz, President Enrique Peña Nieto announced. Pemex made the discovery by drilling its onshore Ixachi well, near the municipality of Cosamaloapan and the overall field is believed to hold some 350 million barrels of proven, probable and possible reserves.

• Tuesday, October 31st 2017 - 08:30 UTC

  Brazil: the return of deepwater oil

  

  By Nick Cunningham of Oilprice.com - On a historic auction for deepwater oil assets in Brazil, the oil majors showed up on October 27 and bought several offshore blocks, indicating a high level of interest in the country after a major policy overhaul allowed private investment.

• Thursday, October 26th 2017 - 06:49 UTC

  YPF unveils ambitious US$ 30bn five-year investment plan

  

  Argentina's state-controlled energy company YPF has unveiled a US$ 30bn five-year investment plan to boost oil production and sharpen its focus on electric power generation. Some US$21.5bn will come from YPF's own coffers, with the remainder to be sourced from its project partners, the company said in a statement on Wednesday.

• Saturday, October 21st 2017 - 07:30 UTC

  Uruguay government announces presence of hydrocarbons in an exploratory well

  

  The Uruguayan government announced on Friday the presence of hydrocarbons in the north west of the country, in the framework of exploratory drilling by US based Schuepbach Energy. The discovery took place in the county of Paysandu, some 400kms north of the capital Montevideo.

• Friday, October 20th 2017 - 05:18 UTC

  Some thoughts about the 9 November Falklands' general election

  

  By John Fowler - At the time of going to press, so far sixteen brave or foolhardy souls have declared their candidature for the General Election. This is one more than in 2013 and may be the most ever. With an average age of less than fifty years this group is almost certainly the youngest. Gone, it would seem, are the days when only the wealthy, retired, unemployed, or possibly unemployable old were available to stand.

• Wednesday, October 18th 2017 - 07:16 UTC

  The “Amazon Effect” is coming to oil markets

  

  By Irina Slav for Oilprice.com - While OPEC mulls over further steps to once again support falling oil prices, tech startups are quietly ushering in a new era in oil and gas: the era of the digital oil field. Much talk has revolved around how software can completely transform the energy industry, but until recently, it was just talk.

• Tuesday, October 17th 2017 - 12:16 UTC

  Federal audit freezes Rousseff and Gabrielli assets over losses in refinery purchase

  

  Brazil's federal audit court ordered a freeze of former President Dilma Rousseff's assets as well as those of José Sérgio Gabrielli, ex-head of state-run oil company Petrobras, over a US$580 million loss in the 2006 purchase of a Texas refinery.

• Tuesday, October 10th 2017 - 16:37 UTC

  China's Sinopec considering selling assets in Santa Cruz, Argentina

  

  Argentina’s losses on its oil and gas assets, as well as its labor disputes, have prompted China’s Sinopec to consider selling its operations in the country. Sinopec advisors have offered up some of its assets to about a dozen large firms from the U.S., Latin America, Europe, Africa, and Russia, it was reported on Monday and confirmed in Beijing media.