Energy & Oil

• Tuesday, March 14th 2017 - 06:26 UTC

  Falklands denies any commitment to reduce oil royalty has been entered

  

  The Falkland Islands government announced on Monday that it is currently in discussion with Premier Oil on a wide range of issues with the objective of progressing the Sea Lion development towards a successful project sanction.

• Monday, March 13th 2017 - 18:34 UTC

  Repsol announces largest onshore oil discovery in the US in three decades

  

  Spanish oil firm Repsol SA has announced the largest onshore oil discovery in the U.S. in three decades, a 1.2 billion barrel find on Alaska’s North Slope. Repsol has been actively exploring in Alaska since 2008 and finally hit a big one. The find came after drilling two wells with its partner, Armstrong Oil & Gas.

• Thursday, March 9th 2017 - 13:55 UTC

  Temer launches 55 infrastructure projects to boost private investment and create 200.000 jobs

  

  Brazil's President Michel Temer launched an infrastructure concessions program on Tuesday that he said should raise 45 billion Reais (US$14.43 billion) in investment in building and operating roads, port terminals, railways and power transmission lines. Temer said the program was key to restoring an attractive business environment as Brazil struggles to emerge from its worst-ever recession.

• Monday, March 6th 2017 - 08:52 UTC

  Russia displaces Saudi Arabia as world's largest supplier of crude oil

  

  Russia has taken over from Saudi Arabia as the world’s largest supplier of crude oil, according to the Riyadh based Joint Organizations' Data Initiative. Russia pumped 10.49 million barrels a day in December, with Saudi Arabia just behind at 10.46 and the US third at 8.9 million barrels. Iraq came up in fourth place with 5 million barrels.

• Sunday, February 26th 2017 - 11:21 UTC

  YPF and Shell reach deal to develop oil and gas assets in Vaca Muerta shale field

  

  Argentina's state-run oil company YPF said it reached a preliminary deal with Royal Dutch Shell Plc to develop oil and gas assets in the Vaca Muerta shale field, involving a US$300 million investment from Shell.

• Friday, February 24th 2017 - 15:51 UTC

  Falklands and Brexit, subjects raised by visiting MPs to the Islands

  

  The impact of Brexit on the Falkland Islands and the economy in general were subjects raised with visiting Members of Parliament this week. The delegation of four made a flying visit to the Falkland Islands last weekend accompanied by FI Representative in London Sukey Cameron.

• Tuesday, February 21st 2017 - 10:58 UTC

  Petrobras exporting record volumes from sub-salt offshore oil fields

  

  Rising output from Brazil’s sub-salt offshore oil fields is allowing Petrobras to export record volumes of oil and import less light crude for its refineries, a senior executive said. Cláudio Mastella, executive manager for refining and natural gas logistics, said the move is helping to reduce Petrobras’ operational and logistical costs because lighter oil is easier and cheaper to refine into products like gasoline and diesel.

• Tuesday, February 14th 2017 - 12:17 UTC

  Petrobras credit rating raised to BB-: improved governance “compares well with those of its peers”

  

  Credit rating agency Standard & Poor’s on Friday raised its corporate credit rating on Petrobras, one notch, from B+ to BB-. The rating change does not lift Petrobras out of the non-investment grade category, but it lowers the risk from “highly speculative” to “speculative.”

• Wednesday, February 8th 2017 - 10:17 UTC

  Falklands' oil exploration: Rockhopper announces investments in Sea Lion

  

  Rockhopper Exploration plc has provided its latest operational and corporate update which includes the North Falkland Basin Sea Lion project and has announced that the technical engineering is approaching conclusion and a settlement on the Eirik Raude rig dispute has been reached.

• Tuesday, January 31st 2017 - 23:19 UTC

  Argentina declares 2017 Renewable Energy Year; 20% electricity share by 2025

  

  Argentina has declared 2017 as the ‘Renewable Energy Year’ as the country looks to increase awareness about the advantages of renewable energy and the important of sustainability. A decree issued by the government calls for energy diversification through the use of renewable energy sources in the electricity generation as well as thermal energy sector.