Energy & Oil

Wednesday, July 27th 2016 - 15:14 UTC
Argentina and Brazil celebrate 25th anniversary of accord which buried nuclear rivalry

Argentina and Brazil commemorated on 18 July the 25th anniversary of the creation of the Brazilian-Argentine Agency for Accounting and Control of Nuclear Material, ABACC, which was the result of the nuclear energy exclusive peaceful use accord, signed by then presidents Carlos Menem and Fernando Collor, in Guadalajara, Mexico.
Tuesday, July 26th 2016 - 21:54 UTC
Petrobras announces plans to sell voting control of its distribution network

Petrobras announced it plans to sell voting control of Petrobras Distribuidora SA after a bidding round for a minority stake in the fuels retailer failed to attract bids that met the state-controlled oil company's needs.
Tuesday, July 19th 2016 - 05:40 UTC
CEO denies plan to privatize Petrobras: 'Brazilian society not mature enough to discuss the issue'

The Brazilian government has no plans to privatize state-run oil company Petrobras and is still deciding whether to sell its controlling share in several units to shore up its finances, the company's Chief Executive Officer Pedro Parente said in an interview with a local newspaper published on Monday.
Friday, July 15th 2016 - 06:35 UTC
Oil company pledges US$ 1.4bn in investments in Argentine Patagonia

Pan American Energy PAE, announced on Thursday investments of 1.4bn dollars in exploration and exploitation of conventional and non conventional hydrocarbons in the Argentine Patagonia provinces of Neuquen, Chubut and Tierra del Fuego.
Thursday, July 14th 2016 - 07:43 UTC
Petrobras tenth FPSO vessel in the pre-salt Santos Basin begins production

Petrobras declared the commencement of production from the Cidade de Saquarema floating production, storage and offloading (FPSO) vessel at the Lula oil field on Jul 8. The offshore oil field is situated in the pre-salt Santos Basin and most importantly, the Cidade de Saquarema unit is the tenth FPSO that is working in the pre-salt region of Brazil.
Wednesday, July 13th 2016 - 02:30 UTC
Beijing rejects adverse international ruling on South China Sea islands and maritime space

China has firmly rejected an international tribunal ruling that its claims to rights in the South China Sea have no legal basis. President Xi Jinping said China's “territorial sovereignty and marine rights” in the seas would not be affected by the ruling “in any way”, however he added that Beijing was still “committed to resolving disputes” with its neighbors.
Monday, July 4th 2016 - 09:56 UTC
Exxon-Mobil-Hess confirm that off Guyana coast oil discovery is largest in two years

ExxonMobil and its partner Hess Corp. have announced that the major discovery off the coast of Guyana, in the north of South America and bordering with Venezuela, is a discovery that is much larger than previously expected.
Wednesday, June 29th 2016 - 04:57 UTC
Investors suing Petrobras argue top executives knew of the massive bribery scheme

Investors suing Petrobras to recoup billions of dollars in losses argued on Tuesday that the arrests and plea deals of top company executives prove that it knew of a massive bribery and political kickback scheme. Lawyers for the investors asked U.S. District Judge Jed Rakoff in Manhattan to rule, ahead of a trial set for Sept. 19, on claims that the company violated U.S. securities laws, according to a court filing.
Friday, June 24th 2016 - 22:10 UTC
Oi telecommunications US$ 19bn bankruptcy, the largest in Brazil's history

Brazilian telecoms giant Oi has filed the largest bankruptcy request in the country’s history, after failing to reach an agreement with creditors.
Thursday, June 23rd 2016 - 13:22 UTC
German coalition bans fracking for shale gas indefinitely, but with parliament reassess in 2021

$German industry is keen to keep the door open to fracking arguing it could help lower energy costs, but opposition from the green lobby is strong$

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.