Energy & Oil

• Friday, September 23rd 2016 - 11:16 UTC

  Petrobras cuts 5-year budget by 25% and will focus on core oil and gas business

  

  Brazil’s Petrobras announced it will be spending US$74.1 billion over the next five years, 25% reduction on the US$98.4 billion for the previous five years capital expenditure. This is also the company’s lowest five-year budget since 2006.

• Friday, September 23rd 2016 - 09:28 UTC

  Brazilian lawmakers in late night vote fail “to neutralize” Petrobras investigation

  

  President Michel Temer criticized a surprise move by Brazilian lawmakers, including some members of his party and even a cabinet minister, to wipe the slate clean on illegal donations they allegedly received.

• Sunday, September 18th 2016 - 06:52 UTC

  Argentina/UK statement on Falklands and dialogue ”promising”, but Congress decides

  

  The recent Argentina/UK joint cooperation statement, with a chapter on the Falklands/Malvinas Islands, is “promising”, however much rests to be defined and agreed, and additional air links should be carried out by Argentina's flag carrier, according to Rosana Bertone, governor of the extreme south province of Tierra del Fuego, Antarctica and South Atlantic Islands.

• Thursday, September 15th 2016 - 10:34 UTC

  Falklands' Sea Lion oil project break-even price reduced to US$ 45 a barrel

  

  Falkland Islands oil explorer Rockhopper Exploration Plc has confirmed cost cuts at its Sea Lion project, which will reduce the scheme´s break-even price to US$ 45 a barrel. Capital investment at Sea Lion to reach first oil is now estimated at US$ 1.5bn.

• Wednesday, September 14th 2016 - 18:35 UTC

  Falklands welcomes UK/Argentina future cooperation agreement, which leaves sovereignty discussions out

  

  The Falkland Islands Government (FIG) welcomed the UK/Argentina future cooperation agreement to remove all obstacles limiting the economic growth and development of the Falkland Islands and points out it will be represented at future discussions on these matters, the removal of sanctions on hydrocarbons, fisheries, shipping and tourism, and underlines that “sovereignty of the Falkland Islands will not be part of these discussions”.

• Wednesday, September 14th 2016 - 17:56 UTC

  Falkland Islands Government welcomes better relationship with Argentina

  

  The Falkland Islands Government (FIG) has welcomed the agreement made between the Argentine and United Kingdom Governments, laid out under this morning’s joint statement. Speaking to the media, Members of the Falkland’s Legislative Assembly stated they “looked forward to a better relationship with Argentina”, especially in the areas of hydrocarbons, fisheries, shipping and tourism.

• Tuesday, September 13th 2016 - 19:56 UTC

  Brazil launches ambitious program to auction off oil, power and infrastructure concessions

  

  Brazil on Tuesday launched a multibillion-dollar plan to auction off oil, power rights and infrastructure concessions, in an attempt by the new government to bolster private investment in a moribund economy. The government will sell operating licenses for airports in the cities of Porto Alegre, Salvador, Florianopolis and Fortaleza by the first quarter of 2017. It also plans to sell rights to operate federal roads in the center-west and south regions later next year.

• Tuesday, September 13th 2016 - 19:51 UTC

  Macri announces top level meeting with UK to address ''all issues'', next week in New York

  

  Argentine president Mauricio Macri described as a “gesture” the attendance of Foreign Office minister Alan Duncan at the Business and Investment forum in Buenos Aires, and anticipated that UK and Argentina are preparing a bilateral meeting next week in New York on the sidelines of the annual UN general assembly to address all issues including Falklands/Malvinas.

• Monday, September 12th 2016 - 10:19 UTC

  Guyana working to establish an onshore oil and gas facility to boost the incipient industry

  

  The Guyana government intends to establish an onshore oil and gas facility in the country as it seeks to fully optimize opportunities in petroleum exploration and production. The Ministry of Natural Resources, working in conjunction with the Ministries of Public Infrastructure and Business, says it believes that this facility is critical and said it is part of the raft of measures intended to ensure that Guyana keeps on the right trajectory in the development of the oil and gas industry.

• Sunday, September 11th 2016 - 16:40 UTC

  Brazil's ex attorney general claims he was fired for trying to deepen Petrobras corruption case

  

  Brazil's new government is trying to stifle a corruption investigation targeting politicians and major parties, the former attorney general said in a magazine interview a day after being replaced by President Michel Temer. The former official, Fabio Medina Osorio, told weekly magazine Veja that he was fired because he tried to deepen the so-called “Car Wash” corruption probe into the country's oil company Petrobras.