Energy & Oil

Monday, October 26th 2015 - 05:34 UTC
Argentina announced Malvinas basin huge gas prospect off Patagonia

Argentina' Energy company, Enarsa, in association with Venezuela's PDVSA, allegedly has detected very positive natural gas deposits off the Patagonia coast, which according to reports in the Buenos Aires press could be equivalent a third of the country's reserves.
Thursday, October 22nd 2015 - 06:51 UTC
Venezuela's proposal to cut oil production and up prices receives little echo

Russia and Mexico – non-OPEC countries, which have been invited to participate Venezuela-proposed meeting this week – have no intention to cut oil production, International Oil Daily reported.
Wednesday, October 21st 2015 - 06:35 UTC
Venezuela presents 2016 budget based on a US$40 per barrel estimate

Venezuela's proposed 2016 government budget is based on an estimate of $40 per barrel for the OPEC nation's oil exports, Finance Minister Rodolfo Marco said in a presentation to congress on Tuesday.
Monday, October 19th 2015 - 10:16 UTC
Bristow adds new hangar to support Falklands' oil and gas industry

Bristow has added a new hangar and modular offices at Stanley Airport in the Falkland Islands to help improve operational efficiencies for oil and gas commercial services and search and rescue (SAR) support.
Monday, October 19th 2015 - 10:02 UTC
US imposes new curbs on Arctic waters oil and gas exploration

The US government has announced new curbs on oil and gas exploration in Arctic waters off Alaska's northern coast. It comes after oil giant Royal Dutch Shell last month stopped its Arctic activity citing “disappointing” tests.
Saturday, October 17th 2015 - 06:54 UTC
Falklands' southeast exploratory well has found 'oil and gas shows', says FOGL

Exploring group Falkland Oil and Gas Ltd. said on Friday the Humpback 53/02-01 exploration well to the southeast of the Falkland Islands has found oil and gas shows, while wire-line logging indicates there are hydrocarbons bearing sandstones within the main target area.
Friday, October 16th 2015 - 07:35 UTC
Petrobras strikes further discovery at giant pre-salt Libra field in Santos basin

Petrobras announced a further hydrocarbon discovery at the giant pre-salt Libra field in the Santos basin, offshore Brazil. The company said that well 3-BRSA-1310-RJS, in the central portion of the block, identified the presence of hydrocarbons in a low-porosity reservoir. This is the fourth well drilled in the Libra area since exploratory drilling began last August.
Friday, October 16th 2015 - 07:26 UTC
Respsol selling assets, slashing investments and cutting working force 6%

Spanish oil giant Repsol said on Thursday it plans to sell 6.2 billion Euros ($7.1 billion) in assets and slash investment in exploration and production over the next five years to help its preserve dividends and pay back debt.
Thursday, October 15th 2015 - 20:16 UTC
China to continue expanding its influence in the oil and gas sector

Since 2009, China has been taking a much more active role in its pursuit of international oil contracts. In 2009, for the first time, Saudi Arabia exported more of its oil to China than it did to the US. China also made large investments in Saudi Arabia's oil refining industry as well. But China's oil investments didn't stop there; they also pursued oil producing Canadian assets in 2011/12.
Wednesday, October 14th 2015 - 08:01 UTC
China to the rescue of cash strapped Petrobras with $2bn for a 10-year lease of two platforms

Brazil's state-run oil firm Petroleo Brasileiro SA will raise $2 billion through a 10-year leasing contract with China's Industrial and Commercial Bank of China Leasing, the Brazilian company said in a statement on Tuesday.