Energy & Oil

Saturday, September 12th 2015 - 11:23 UTC
Falklands' oil company unaware of reasons for share prices increase

Falkland Oil and Gas Limited, the oil and gas exploration company focused on its extensive licence areas to the North, South and East of the Falklands islands, notes Friday's increase in the Company's share price and confirms that it is not aware of any reason that would lead to such a movement.
Saturday, September 12th 2015 - 09:59 UTC
UK offshore oil sector lost 65.000 jobs; industry's challenge: taking a barrel's operational cost to £15

The contraction of Britain's offshore oil sector has already stripped out 65,000 jobs, according to a new report. The calculation of a 15% drop since the start of last year came from the annual economic impact report of trade body Oil and Gas UK.
Wednesday, September 9th 2015 - 12:06 UTC
The default next move for oil is downwards, and here's way

By Martin Tillier of Oilprice.com - As traders, investors and pundits, we all like to think that what we do is akin to a science. We believe that by working harder and being smarter we can give ourselves an edge, that enough research will reveal to us the next move, either a long term trend or an intraday blip on a chart, and that we can profit from that knowledge
Tuesday, September 8th 2015 - 06:24 UTC
Maduro pledges a comprehensive PetroCaribe plan spanning 2015/2025

Venezuelan President Nicolas Maduro has pledged to build a comprehensive plan for PetroCaribe, in the next ten years, spanning 2015-2025.
Friday, September 4th 2015 - 09:00 UTC
First oil production off Rio de Janeiro with FPSO 'Cidade de Itaguai', five months ahead of schedule

MODEC Inc. announced on Thursday that its FPSO 'Cidade de Itaguai MV26', operating in the Iracema Norte area of Lula field, in the Pre-Salt layer of Santos Basin offshore Brazil, has achieved First Oil production on July 31, 2015, five months ahead of the schedule anticipated under the contract.
Friday, September 4th 2015 - 08:26 UTC
Falklands approves Noble and Premier plans to drill Rhea-1 and Jayne East

The most recent meeting of the Falkland Islands' Executive Council (ExCo) was dominated by matters relating to oil exploration and development including recommendations for plans of Noble Energy and Premier Oil to go ahead with drilling of Rhea-1 and Jayne East wells.
Thursday, September 3rd 2015 - 09:15 UTC
China warns Delhi, “India should rethink its oil exploration plants”

The state-run China Daily has said that India's plans to conduct oil exploration off Vietnam coast in the South China Sea is “illegal and is an ”unwise move“ that may ”sabotage” positive momentum in ties.
Wednesday, September 2nd 2015 - 08:06 UTC
Petrobras union announces an 'open-end' strike to protest investment cuts

Brazil's largest oil workers' union advised Petrobras that it plans to begin an open-ended strike against the state-run oil company starting at midnight (0300 GMT) on Friday. The strike is in protest at a recent cut of about 40% in investments by Petrobras and the planned sale of about $15.1 billion of assets, the union, known as FUP, said in a statement on Tuesday.
Wednesday, September 2nd 2015 - 06:27 UTC
Petrobras increases price of LPG by 15%, the first adjustment in 13 years

Brazil's Petrobras announced late Monday that it would raise the wholesale price of liquefied petroleum gas (LPG) by 15% effective Tuesday, the first price adjustment for the essential cooking gas in 13 years. The move is part of efforts by Petrobras to reduce losses on fuel sales, a company Petrobras source said.
Tuesday, September 1st 2015 - 23:52 UTC
Mexico announces postponement of deep-water oil exploration auction

Mexico, which has started to open its nationalized oil industry to additional private investment, will postpone auctions for deep-water oil exploration and production contracts and adjust the terms of upcoming tenders after an inaugural oil auction failed to meet the government's modest expectations.