Energy & Oil

• 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.

• Wednesday, January 25th 2017 - 08:15 UTC

  Falklands attending Trinidad and Tobago annual energy conference

  

  The Falkland Islands government is attending the Annual Trinidad and Tobago Energy Conference from January 23rd – 25th, 2017 at the Hyatt Regency, Port-of-Spain. The Trinidad and Tobago Energy Conference is the premier Energy Conference in the Caribbean and promotes vigorous debate and discussion among leaders of industry, Government and academia.

• Friday, January 13th 2017 - 11:19 UTC

  Petrobras pre-salt oil production set a new record in 2016

  

  Petrobras’ average oil production in Brazil in 2016 went up 0.75% in comparison to the previous year and reached 2,144,256 barrels per day. According to the company, the result was in line with the established target of 2.145 million and represents an annual all-time high.

• Wednesday, January 11th 2017 - 08:29 UTC

  Macri announces program to boost development of Vaca Muerta shale formation

  

  Argentina's government has agreed to extend a natural gas wellhead price subsidy until 2020 and reduce labor costs in a bid to jumpstart investment in the Vaca Muerta shale formation. The agreement, reached between the national government, the provincial government of Neuquen, industry and labor unions, comes at a time of lackluster upstream activity, reflecting an uncertain price environment and cost concerns.

• Saturday, January 7th 2017 - 07:14 UTC

  Uruguayan bureaucrats good at cooking inflation numbers

  

  Last December, the CPI actually contracted 0.55%, something similar to what happened twelve months before helped by a significant decrease in the power rate, estimated at 19.65% and which benefitted over a million clients. The logo of the end of the year bonus campaign is “Ute Prize” (UTE is the Uruguayan power company which works under a government monopoly regime).

• Friday, December 30th 2016 - 17:49 UTC

  Petrobras sale of assets still US$ 1.5bn short of 2015/16 divestment target

  

  Brazil's oil and gas corporation Petrobras announced this week the sale of ethanol and petrochemicals assets for US$587 million, but said it would still fall US$1.5 billion short of its divestment target for the 2015-2016 period.

• Thursday, December 29th 2016 - 19:58 UTC

  Falklands' fisheries and oil issues must be discussed with the Argentine congress, warns lawmaker Carrió

  

  All issues linked to fisheries and hydrocarbons in the Falklands/Malvinas must be discussed and approved by Congress, warned Argentina's chair of the foreign affairs committee adding that if necessary the officials involved, who ignore the legislative will be summoned and sacked with a no confidence vote and political trial.

• Thursday, December 29th 2016 - 06:07 UTC

  ANCAP company in Argentina seeks bankruptcy reorganization proceedings

  

  Uruguayan oil company ANCAP announced Wednesday through a press release that one of its companies, Carboclor S.A., based in Argentina, had turned to the courts to start the reorganization proceedings, known in Argentinian law as “Concurso Preventivo,” which is very similar to the United States' “Chapter Eleven” bankruptcy mechanism.