Energy & Oil

• Thursday, June 23rd 2016 - 13:22 UTC

  German coalition bans fracking for shale gas indefinitely, but with parliament reassess in 2021

  

  Germany's coalition government agreed this week to ban fracking for shale gas indefinitely after years of fractious talks over the issue, but environmental groups said the ban did not go far enough and vowed to fight the deal. Test drilling will be allowed but only with the permission of the respective state government, officials said.

• Thursday, June 23rd 2016 - 02:56 UTC

  Renewables the focus of EU Energy Week in the Falklands

  

  The Power & Electrical Department hosted an open day last week at their Sand Bay Wind Farm to showcase the work being undertaken by the Falkland Island’s Government (FIG) to utilise and promote renewable energy sources. The open day, which included guided tours and demonstrations, formed part of wider initiatives recently undertaken by FIG to address issues surrounding climate change.

• Wednesday, June 15th 2016 - 19:06 UTC

  Federal Reserve cautious about the future, leaves interest rates unchanged

  

  United States Federal Reserve in a unanimous vote kept interest rates unchanged on Wednesday and signaled that it will assess labor market conditions, inflation expectations and financial and international developments before deciding on future actions. The U.S. central bank also lowered its economic growth forecasts for 2016 and 2017 and indicated it would be less aggressive in tightening monetary policy after the end of this year.

• Tuesday, June 14th 2016 - 08:22 UTC

  Petrobras pre-salt fields production climb to a new high in May: 1.1MMboe/d

  

  Petrobras’s oil production in Brazil averaged 2.16 MMboe/d in May, its fifth highest monthly figure to date. The growth was due mainly due increases from the company’s pre-salt fields, with new wells connected to the FSPO Cidade de Maricá serving the Lula field in the Santos basin.

• Tuesday, June 7th 2016 - 09:04 UTC

  Ex Total top engineer named Argentina's YPF CEO

  

  Argentina's state oil company YPF said on Monday it has named Ricardo Darre chief executive officer, as the company makes leadership changes under the new pro-business government.

• Monday, June 6th 2016 - 10:46 UTC

  Petrobras will have full independence to set domestic fuel prices

  

  Brazil's energy ministry said on Saturday it backed full independence for Petrobras to set domestic fuel prices, blaming past controls for saddling the state-controlled oil company with crippling debt that is the oil industry's largest.

• Saturday, June 4th 2016 - 09:29 UTC

  OPEC summit fails to agree on a clear oil policy output strategy

  

  The Organization of the Petroleum Exporting Countries failed to agree on a clear oil-output strategy on Thursday as Iran insisted on steeply raising its production, though archrival Saudi Arabia promised not to flood the market and sought to mend fences within the organization.

• Saturday, June 4th 2016 - 08:57 UTC

  YPF and ENAP agree to increase gas and oil production off Magellan Strait

  

  Argentina's YPF and Chile's Enap Sipetrol announced a joint project to expand the production of natural gas and crude from the offshore Magallanes Deposits, (PIAM), to the east of Magellan Strait Reserve. Representatives from Tierra del Fuego province and Magallanes Region, and from the two companies, attended the announcement ceremony.

• Friday, June 3rd 2016 - 06:40 UTC

  Falklands are “my homeland”, with the right to freely choose our own future

  

  The Falklands are a people, “my homeland”, with the right to freely choose our own future, as enshrined as leading principle in the UN Charter and safeguarded by the several covenants on civil and political rights, said Falklands' government representative Krysteen Ormond addressing the Pacific Regional Seminar of the C24, Special Decolonization Committee.

• Monday, May 30th 2016 - 07:36 UTC

  Venezuela's public sector will only work Mondays and Tuesdays for another two weeks

  

  Venezuela's government on Saturday extended by two weeks a decree reducing the public sector workweek to Mondays and Tuesdays in a bid to tackle the oil-rich country's electricity crisis. The enforced leave was first announced in late April, a drastic move for a government also grappling with an economic crisis that has Venezuelans queuing for hours to buy scarce supplies.