Energy & Oil

Monday, July 16th 2018 - 08:54 UTC
North Falkland Sea Lion Project: Premier Oil advancing in contracting suppliers

Dril-Quip (Europe) in Aberdeen has announced a letter of intent with Premier Oil to provide subsea production systems for the Sea Lion Phase 1 development offshore the Falkland Islands. The letter of intent signed was described as a sizeable supply contract, but was undisclosed.
Monday, July 16th 2018 - 07:20 UTC
Argentine foreign ministry informs Tierra del Fuego delegation on the current Malvinas policy

Overall the Argentine government is satisfied how relations with the UK regarding the South Atlantic, and Falklands' sovereignty claims are evolving, was the message with which members of the so called Malvinas Question Observatory from Tierra del Fuego province, returned to Ushuaia after meeting with foreign ministry officials in Buenos Aires, according to local media reports.
Saturday, July 14th 2018 - 07:48 UTC
Venezuela’s oil crisis gets worse: Production keeps falling

Venezuela’s oil production plunged by another 47,500 barrels per day (bpd) in June, compared to a month earlier. An exodus of workers and field shut downs were reported for the month, pointing to a grim near-term future that could see total production dip below 1 million barrels per day (mb/d) by the end of the year.
Wednesday, July 11th 2018 - 07:00 UTC
Petrobras diversifies to renewables: signs MoU with Total's green arm

Brazilian state-run oil and gas company Petrobras has signed a memorandum of understanding (MoU) with French oil major Total SA and its green arm Total Eren SA for collaboration in renewable projects in Brazil.
Monday, July 9th 2018 - 07:34 UTC
Falklands' oil industry on the move as Sea Lion project financing has a pathfinder bank

Rockhopper Exploration says Standard Chartered Bank will serve as Pathfinder Bank for the proposed senior debt project financing of the Premier Oil-operated Phase 1 development of the Sea Lion project offshore the Falkland Islands.
Friday, July 6th 2018 - 08:16 UTC
The new oil cartel threatening OPEC

When reports emerged that India and China are in talks about forming an oil buyers' club, OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. Now, it may be time for it to start worrying.
Wednesday, July 4th 2018 - 09:02 UTC
Brazilian ex-billionaire sentenced to 30 years in prison for corruption

A Brazilian businessman famous for amassing and then losing a multi-billion-dollar fortune has been convicted of corruption and money laundering and sentenced to 30 years in prison.
Wednesday, July 4th 2018 - 08:29 UTC
Bolivia invites India to develop lithium reserves, essential for electric vehicles and smart phones

Bolivia, known to have the largest reserves of lithium, has offered the metal –used in making batteries of electric vehicles, laptops and smart phones– to India. Ambassador to India, Sergio Dario Arispe Barrientos, said Bolivia has the largest deposit of Lithium and India could explore this opportunity.
Tuesday, July 3rd 2018 - 07:26 UTC
Argentina plans to free fuel prices starting in August

Argentina will allow fuel retailers to freely set pump prices starting in August, according to an Energy Ministry official familiar with the plan, a move that could encourage badly needed investment in the nation's oil patch but risks worsening sky-high inflation and angering consumers.
Monday, July 2nd 2018 - 08:25 UTC
Saudi Arabia prepared to help with Trump's request “to pump more oil”, but gives no specifics

President Donald Trump said over the weekend that he had received assurances from King Salman of Saudi Arabia that the kingdom will increase oil production, “maybe up to 2,000,000 barrels” in response to turmoil in Iran and Venezuela. Saudi Arabia acknowledged the call took place, but mentioned no production targets.