Energy & Oil

Wednesday, May 13th 2015 - 08:29 UTC
Petrobras still Latam's top company but fell to second-worst performer because of corruption losses

Brazil's state oil giant Petrobras remains Latin America's top company in revenues, but has lost its position as the profit leader after posting record losses last year due to a growing corruption scandal and administrative inefficiencies, according to a new ranking of the region's 500 largest companies from digital publication Latinvex.
Tuesday, May 12th 2015 - 22:03 UTC
Falklands' Isobel Deep drilling operations have recommenced

Energy company Rockhopper Exploration and Falkland Oil and Gas Ltd., have announced that drilling operations at Isobel Deep well have recommenced. Isobel Deep is located in the North Falklands basin and is part of the current round of drilling in Falklands' waters.
Tuesday, May 12th 2015 - 08:43 UTC
Obama approves oil drilling in the Arctic Sea under certain conditions

President Barack Obama's administration on Monday approved petroleum giant Shell's request to begin drilling for oil and gas in the Arctic Sea under certain conditions, despite opposition from environmental groups.
Saturday, May 9th 2015 - 08:46 UTC
US economy created 233.000 new jobs in April and unemployment falls to 5.5%

Employers in the US created 223,000 new jobs in April, a much larger increase than the month before. At the same time, the US Department of Labor said the unemployment rate dropped to a seven-year low of 5.4%, down from 5.5% in March.
Wednesday, May 6th 2015 - 18:40 UTC
Is this where investors should be looking when oil recovers?

When oil prices recover-and plenty of analysts think the climb back up will start soon-Canada's western frontier of Saskatchewan and neighboring Alberta will 'still have the edge'', according to a report from TD Economics. Depressed oil prices may have skewed the view from Canada's oil-producing west, but this will be one of the better places to bet on the oil rebound.
Wednesday, May 6th 2015 - 17:36 UTC
Brazil's securities regulator CVM formally accuses Petrobras former board members

Brazil's securities industry regulator accused the former board of state-run oil producer Petrobras of setting a fuel pricing policy that misguided investors and hurt the company.
Wednesday, May 6th 2015 - 17:24 UTC
Petrobras awarded in Houston highest recognition for offshore oil operators

Petrobras’ Exploration and Production Director, Solange Guedes, received the OTC Distinguished Achievement Award for Companies, Organizations and Institutions, the highest recognition that an oil company can be given as an offshore operator.
Tuesday, May 5th 2015 - 17:38 UTC
Brad Pitt invited to Ecuador to observe the 'pollution disaster” allegedly caused by Chevron

US cinema star Brad Pitt has been invited by the Ecuadorian government to observe the pollution in the country's Amazon region allegedly caused by Chevron. President Rafael Correa announced the invitation in his regular weekend report, saying that the oil giant is in preparation of spearheading a film with the movie star about an alleged case against the company.
Tuesday, May 5th 2015 - 06:41 UTC
Brazil's Vale CEO becomes chairman of Petrobras board of directors

The CEO of Vale SA Murilo Ferreira was voted Chairman of the Board of Directors at Petroleo Brasileiro Petrobras SA (ADR). The Rio de Janeiro-based oil corporation is the most indebted energy company in the world, and is battling to get its way around one of the biggest corruption and bribery scandal that has surrounded the company since October last year.
Tuesday, May 5th 2015 - 06:34 UTC
Brazil pledges rule changes to make oil exploration and production concessions more dynamic

Brazil's government is discussing changes to its oil regulations but any new rules will not be in place before an October auction of exploration and production concessions, the country's energy minister Eduardo Braga said on Monday.