Energy & Oil

Thursday, October 1st 2015 - 08:51 UTC
Petrobras hikes gasoline and diesel prices to help with the company's finances

Brazil's state-controlled Petrobras unexpectedly increased wholesale gasoline and diesel prices in the domestic market, potentially widening a controversial premium to international prices. The heavily indebted company said that the gasoline price would increase by 6%, and diesel by 4%, as of this Wednesday.
Monday, September 28th 2015 - 10:57 UTC
Shell stops Arctic oil exploration following 'disappointing' results

Royal Dutch Shell has stopped Arctic oil and gas exploration off the coast of Alaska after “disappointing” results from a key well in the Chukchi Sea. In a surprise announcement, the company said it would end exploration off Alaska “for the foreseeable future”.
Sunday, September 27th 2015 - 09:37 UTC
Major offshore drilling company accused of involvement in Petrobras scandal

Transocean Ltd., a top offshore drilling company, has been mentioned in testimony in a corruption investigation focused on Brazil's state-run Petrobras, Brazilian court documents showed.
Saturday, September 26th 2015 - 08:03 UTC
Petrobras increases LPG price 11% for commercial and industrial clients

Petrobras announced that the price of liquefied petroleum gas (LPG) for commercial and industrial clients has risen 11%, effective midnight Friday. The company said the increase does not affect the price of LPG sold in smaller containers for residential uses such as household cooking, which rose 15% on September first.
Saturday, September 26th 2015 - 07:43 UTC
Falklands' oil companies agree to resume drilling at successful Sea Lion prospect

Falkland Oil and Gas PLC on Friday announced it has agreed with Rockhopper Exploration PLC and Premier Oil PLC to drill another well on the Isobel/Elaine complex to replace the planned Jayne East well.
Wednesday, September 23rd 2015 - 08:22 UTC
Falklands Argos completes farm-out agreement with Noble and Edison

Falklands focused Argos Resources Limited confirmed the completion by its wholly owned subsidiary, Argos Exploration Limited of a farm out agreement with Noble Energy Falklands Limited and Edison International S.p.A in respect of its Licence PL001.
Thursday, September 17th 2015 - 20:25 UTC
Methanol production resumes in Magallanes with ENAP natural gas

Chile's government petroleum company, ENAP, announced that based on the production success of its Arenal block in the extreme south of the country, it has reached a natural gas supply agreement with Methanex, the Canadian methanol plant next to Punta Arenas which is one of the region's leading industries.
Thursday, September 17th 2015 - 09:45 UTC
Petrobras oil/gas production in August sets new records; subsalt output up 61% in twelve months

Brazil's state-controlled Petrobras produced a record 2.69mn b/d of oil equivalent (boe/d) in August, 3.1% increase over July and almost 1% higher than the previous 2.67mn boe/d record set in December 2014, the company said on Wednesday.
Thursday, September 17th 2015 - 09:40 UTC
Repsol and BG group discover natural gas reserves in southern Bolivia

President Evo Morales confirmed the discovery of new natural gas reserves at two adjacent fields in southern Bolivia that are managed by a consortium led by Spanish oil major Repsol. The Margarita and Huacaya fields are located in the Caipipendi block, in which Repsol and Britain's BG Group each has a 37.5% stake and Anglo-Argentine oil company Pan American Energy holds a 25% interest.
Wednesday, September 16th 2015 - 09:18 UTC
OPEC refuses to cut output pushing higher-cost oil producers out of the market

The monthly report from the Organization of the Petroleum Exporting Countries said a weaker outlook for China would contribute to slower global oil demand growth next year. “U.S. oil production has shown signs of slowing,” OPEC said in the report. “This could contribute to a reduction in the imbalance of oil market fundamentals, however, it remains to be seen to what extent this can be achieved in the months to come.”