Energy & Oil

• Tuesday, July 21st 2015 - 05:42 UTC

  Three Brazilian top executives convicted in relation with Petrobras corruption

  

  Three executives of Brazil's Camargo Correa group were convicted of money laundering, corruption and other charges, the first construction-industry executives to be sentenced in a giant price fixing and bribery scandal involving state-run oil company Petrobras.

• Tuesday, July 21st 2015 - 04:28 UTC

  Falklands' oil industry: Mercosur special declaration in support of Argentina's Malvinas dispute

  

  The latest Mercosur summit, held last week in Brazil included a special statement, --besides the main regular declaration with 69 articles--, blasting the UK for violating international law and Argentine domestic law over the exploration of hydrocarbons “in the Argentine continental shelf in proximity of the Malvinas Islands”.

• Monday, July 20th 2015 - 07:17 UTC

  Petrobras working to match domestic and international fuel prices

  

  Brazil's Petrobras is working to bring domestic diesel and gasoline prices into parity with international levels in order to attract downstream buyers or partners. The oil and gas giant needs to sell assets to survive a combination of mounting debt, low oil prices and a giant corruption scandal.

• Friday, July 17th 2015 - 06:42 UTC

  Falklands' Premier secures two blocks in Mexico's oil industry privatization

  

  Premier Oil, with strong involvement in the development of the Falkland Islands' oil and gas industry is among the winners in the first round of Mexico’s oil and gas privatization. The two licences secured by the London listed oil firm’s consortium were the only assets successfully auctioned by the Mexican authorities.

• Monday, July 13th 2015 - 09:30 UTC

  Petrobras faces major class action lawsuit in US next February

  

  Brazil's state-run oil producer Petrobras, said in a securities filing on Friday that its motion to dismiss a class-action lawsuit in the United States had been denied by the court. Petrobras said part of the complaint against the company relating to bonds issued in the United States in 2012 was denied.

• Saturday, July 11th 2015 - 06:45 UTC

  Keeping Falklands pristine: waste fuels and oil recycled into energy

  

  The Falkland Islands have been for many years utilizing waste fuels and oil for energy from a variety of different sources and now the oil companies operating in the Falklands, having complied with all the safety regulations on storage and handling, are also contributing to the local 'processing' industry managed by Tim Miller and his greenhouse fresh vegetables enterprise.

• Saturday, July 11th 2015 - 06:18 UTC

  Premier Oil Falklands' exploration budget increased given successful drilling

  

  Premier Oil has increased its 2015 exploration budget by $20 million to account for higher investments in its drilling campaign in the Falkland Islands, the company said this week in a trading update. The company also revealed it is considering further drilling at the Isobel Deep recent discovery instead of going on to Jayne East in North Falkland.

• Thursday, July 9th 2015 - 06:18 UTC

  Petrobras 'suspicious' activities could involve as much as 16bn dollars

  

  Investigators with Brazil’s Finance Ministry say they have identified as much as US$16 billion worth of suspicious activity that may be part of a kickback scandal engulfing the state-owned oil company Petrobras.

• Thursday, July 9th 2015 - 02:38 UTC

  Don't panic, nothing has really changed in the oil markets

  

  Monday's 8% WTI crude decline is setting up a big opportunity for buyers. And there could be more to come. But this is driven by momentum, not by the fundamental conditions in the physical market.

• Monday, July 6th 2015 - 14:59 UTC

  PetroRio buys Petrobras 20% concession in Bijupirá and Salema oil and gas fields

  

  Brazil's oil and gas corporation Petrobras on Friday signed with PetroRio S.A. (‘PetroRio’) the contracts for the sale of 20% of its stake in the concessions of Bijupirá and Salema fields, currently operated by Shell. The transaction amounts to US$ 25 million and is subject to adjustments that are common to this type of operation.