Energy & Oil

Friday, November 6th 2015 - 14:16 UTC
Petrobras strike strong support fuelled by resistance to sale of assets and cutting investments

Brazilian union leaders say stronger than expected support for a strike at Petrobras is due to growing worker opposition to a creeping privatization of the state oil company. The strike, which began on Sunday, has become the biggest stoppage in two decades at Petrobras and shows workers back union efforts to renationalize the company and cut foreign participation in the oil industry, union leaders say.
Tuesday, November 3rd 2015 - 09:58 UTC
Brazil oil workers stage national strike and stopped operations at 22 rigs

Oil workers staging a national strike in Brazil said on Monday they had stopped all operations at 22 of state-controlled oil giant Petrobras's 44 rigs in the Campos basin, an offshore area that accounts for about 80% of the country's oil output. Oil workers declared a strike on Sunday.
Tuesday, November 3rd 2015 - 06:42 UTC
Petrobras import of US condensate help address refining shortage, but faces tax controversy in Brazil

Petrobras’ move to start buying processed U.S. condensate will help output at its domestic refining network, but the purchases have exposed a wrinkle in Brazilian law that could allow the state-run company to import the light oil duty-free, tax lawyers and traders said. Typically, condensate is considered a very light form of crude found in oil or natural gas wells and in raw form is not taxable in Brazil.
Tuesday, November 3rd 2015 - 06:20 UTC
Falklands sports clubs receive significant donation from Argos Ltd

Three Falkland Islands sports clubs benefitted from the generosity of local business Argos Ltd with a donation of £25,000 via the Overseas Games Association (FIOGA).
Monday, November 2nd 2015 - 09:30 UTC
Petrobras largest union on strike protesting sale of company's assets

Brazil's largest oil union began an open-ended strike on Sunday, protesting against attempts by the government to shrink the state-run oil company Petrobras, which is reeling from a corruption crisis and a crash in the oil price.
Friday, October 30th 2015 - 06:37 UTC
Falklands' Humpback well finds non-commercial quantities of oil and gas

Humpback is the first well to encounter oil in the potentially larger systems in deeper waters off the southeast of the Falkland Islands; however the oil and gas across a number of reservoir targets in the well drilled to a depth of 5.136 meters, were in non-commercial quantities.
Thursday, October 29th 2015 - 06:06 UTC
Noble Energy begins production in Gulf of Mexico deepwater oil development

Noble Energy with interests in Falklands' exploration, has commenced production from the Big Bend oil development in Mississippi Canyon 698 of the deepwater Gulf of Mexico. Noble and partners expect the single-well field to reach a maximum gross production rate of approximately 20,000 boe/d over the next couple of weeks. Approximately 90% of the volumes being produced from Big Bend are oil, Noble said.
Tuesday, October 27th 2015 - 10:22 UTC
Day of reckoning for U.S. shale will have to wait

October has been billed as a pivotal month in which indebted shale companies would see their credit lines cut, precipitating a faster consolidation in the industry that would sow the seeds of a rebound.
Tuesday, October 27th 2015 - 07:43 UTC
Japanese company acquires part of Petrobras gas distribution unit

Japan-based Mitsui has signed an agreement with Petrobras for partial acquisition of shares in the latter's natural gas distribution unit Petrobras Gás (Gaspetro) for about R$1.9bn ($489m).
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.