Energy & Oil

Wednesday, July 19th 2017 - 15:16 UTC
Mexico digesting major crude discoveries, delays offshore oil auctions

Mexico will delay its next offshore oilfield auctions by a month, giving international bidders more time to evaluate recent major crude discoveries that highlight the potential value of the assets. A new billion-barrel find announced last week “confirms that the Mexican side of the Gulf of Mexico is very prolific,” said Juan Carlos Zepeda, Mexico’s chief oil regulator in an interview.
Wednesday, July 12th 2017 - 20:12 UTC
Premier and partners make world class oil discovery in Mexico. Shares soar more than 30%

Premier Oil (with strong interests in Falklands' oil industry), together with its joint venture partners Talos Energy (Operator) and Sierra Oil & Gas, announced on Wednesday that the Zama-1 exploration well in Block 7, offshore Mexico, has made a world class oil discovery.
Wednesday, July 12th 2017 - 04:21 UTC
Oil and gas production in Argentina has fallen to its lowest in 25 years

Oil and gas production in Argentina has fallen to 1981 levels, the lowest in 25 years, despite a $14 million government subsidy for the first five months of this year. From last year to May 2017, the country has produced 2,311,736 m3 of oil and just under 3.8 billion m3 of gas, which shows a drop of 6% and 1.8% respectively.
Monday, July 10th 2017 - 17:45 UTC
Don't hold your breath for deeper OPEC cuts

The rally in oil prices over the past two weeks came to a halt on news that OPEC is actually exporting more oil than previously thought. A month ago, oil prices appeared to be higher than they should have been, with weak demand, elevated inventories, and a recognition that the nine-month OPEC extension would be inadequate to balance the market.
Saturday, July 8th 2017 - 23:32 UTC
Brazil plans to overhaul power market to eliminate money losing subsidiaries

Brazil has announced plans to overhaul the power market which could lead to higher rates and rid the state controlled Electrobras utility of money losing subsidiaries.
Thursday, July 6th 2017 - 19:16 UTC
Chinese company will exploit energy resources in Brazil

Petrobras announced that it signed a memorandum of understanding with the China National Petroleum Corporation (CNPC) to exploit energy resources in Brazil and abroad. In the statement, Petrobras said that the deal will allow the two state oil companies to benefit from each other's capacity and experience in oil and gas production.
Thursday, July 6th 2017 - 06:57 UTC
Brazilian plan to review purchase of Bolivian natural gas

Petrobras should cut the maximum amount of natural gas it buys from neighboring Bolivia in half in an effort to encourage domestic importers and distributors to enter the market, according to a Brazilian government study.
Thursday, July 6th 2017 - 06:42 UTC
Petrobras awards pipeline inspection services contract to Fugro and its new vessel

Netherlands Fugro has been awarded a further two-year contract by Petrobras to provide comprehensive inspection, repair and maintenance (IRM) and pipeline inspection services in Brazil.
Tuesday, July 4th 2017 - 02:49 UTC
Bolivia's YPFB wins bid to sell LPG to Paraguay

Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) CEO Oscar Barriga announced Monday that the state company will export 4,000 tons of liquefied petroleum gas (LPG) to Paraguay.
Saturday, July 1st 2017 - 13:35 UTC
Trump announces new oil pipeline to Mexico right “under the wall”

US President Donald Trump announced the construction of a pipeline to carry oil to Mexico through the border near Peñitas, Texas, which would run under the infamous wall he has promised to build.