Energy & Oil

• Monday, February 29th 2016 - 09:16 UTC

  Esso to intensify oil exploration in Guyana's Maritime Zone

  

  Oil exploration efforts have intensified following the discovery of commercial quantities of oil in Guyana’s Maritime Zone. Esso Exploration and Production Guyana Ltd. (EEPGL) has commenced a meteorological and oceanographic survey in the Stabroek Block, scheduled to be completed during May 2018.

• Friday, February 26th 2016 - 10:19 UTC

  Total starts production at Argentine Tierra del Fuego offshore gas field

  

  French oil company Total has started up production at the offshore Vega Pleyade gas and condensate field in the Tierra del Fuego region of Argentina. Operated by Total, the project will have a production capacity of 10 million cubic meters of gas per day (70,000 barrels of oil equivalent per day (boe/d)).

• Wednesday, February 24th 2016 - 07:43 UTC

  Argentina's YPF submits copy of contract with Chevron but warns about 'confidential information'

  

  Argentina's oil and gas company YPF submitted a copy of the contract signed with Chevron back in 2013 for joint works at the Loma Campana field in the province of Neuquén. Still, Argentina’s state-run energy giant demanded “confidential information” not to be revealed.

• Saturday, February 20th 2016 - 10:32 UTC

  Shell suggests Petrobras should cede some drilling rights to foreign firms

  

  Brazil’s government-owned oil giant Petrobras should cede some of its drilling rights to foreign firms, Royal Dutch Shell Oil CEO Ben van Beurden was quoted saying in Estado de Sao Paulo newspaper.

• Friday, February 19th 2016 - 04:24 UTC

  Brazil biggest environmental disaster: compensation agreement could be signed this week

  

  The Brazilian government expects to reach an agreement by Friday with Samarco Mineração to settle a 20 billion-real (US$4.9 billion) lawsuit for damages in the deadly dam disaster which burst in inland Minas Gerais creating a tsunami of mud and waste that killed 17 people and reached the Atlantic ocean.

• Thursday, February 18th 2016 - 06:19 UTC

  Falklands' oil industry continues to advance, despite current low prices

  

  Despite current low oil prices, the oil and gas industry in the Falkland Islands is continuing to go from strength to strength as its first project, Premier Oil’s Sea Lion, moves closer to commercialization, according to an analyst with research and consulting firm GlobalData.

• Thursday, February 18th 2016 - 06:07 UTC

  Norway's Statoil joins Tullow Oil and expands share in Uruguay's Pelotas basin

  

  Norway’s Statoil said that it has signed an agreement with Tullow Oil to secure a 35% working interest in a Uruguay’s Pelotas basin exploration block 15, about 200 kilometers off the coast of Uruguay.

• Wednesday, February 17th 2016 - 11:04 UTC

  Main oil exporters agree to freeze production, ...if all leading producers join

  

  Four of the world's biggest oil-producing nations moved to freeze their production on Tuesday to try to halt the 70 percent drop in the price of crude because of a glut of oil on world markets. The agreement was reached by the oil ministers of Russia and three members of the Organization of the Petroleum Exporting Countries, Saudi Arabia, Venezuela and Qatar, during a closed-door meeting in Doha, the Qatar capital.

• Tuesday, February 16th 2016 - 08:42 UTC

  Ocean Rig determined to collect 'termination fee' from Falklands' Premier Oil

  

  Ocean Rig UDW Inc. has officially announced that two of its drilling contracts have been terminated, one of them in the Falkland Islands where its “Eirik Raude” was working for Premier Oil as the main operator. Ocean Rig is demanding a termination fee of several million dollars and in case Premier Oil contests the payment, “we intend to commence arbitration proceedings”.

• Tuesday, February 16th 2016 - 07:37 UTC

  Noble Energy cancels drilling in Falklands, following termination of rig contract

  

  Falkland Islands based company, Argos Resources Ltd. said it has received notification from Noble Energy, the operator of license PL001 in which Argos holds a 5% overriding royalty interest, that it is exercising its rights to declare Force Majeure on the well.