Energy & Oil

• Tuesday, April 21st 2015 - 07:36 UTC

  Falklands' public consultation period on oil industry impact extended until Friday

  

  The Falkland Islands government (FIG) announced it has extended the public consultation period for the Oil & Gas Social Effects Monitoring Program, which was originally intended to end this week. The new deadline is Friday 24 April.

• Monday, April 20th 2015 - 06:57 UTC

  Has the U.S. reached “peak oil” at current price levels?

  

  The United States Energy Information Agency once again capitulated on the myth that rig counts don't matter and the productivity of wells would largely offset, leaving the industry on a continuous path to higher output. The current consensus of 500,000 B/D additional growth in 2015 US production now appears very much at risk.

• Saturday, April 18th 2015 - 10:13 UTC

  UK accuses Argentina of bullying the Falklands; it's time they begin acting 'responsibly'

  

  Britain's Foreign Secretary Philip Hammond has accused Argentina of bullying after it announced on Friday in London that it was starting legal action against companies drilling for oil and gas near the Falkland Islands.

• Friday, April 17th 2015 - 04:12 UTC

  Malvinas Secretary Filmus to talk about Falklands and oil in London

  

  Argentina's Secretary for Malvinas Islands Affairs, Daniel Filmus will be giving a conference on Friday in London on the Falkland Islands sovereignty dispute with the UK and the current round of oil drilling offshore the Islands, in what Argentina considers its territory.

• Tuesday, April 14th 2015 - 11:49 UTC

  Falklands oil explorers replace costly drilling in the south-east basin

  

  Three oil explorers drilling in the Falkland Islands, including Houston based Noble Energy have shelved plans to drill a second well in the south and east Falklands following the steep drop in oil prices, one of the partners said on Monday. Partners, which also include London-listed Falkland Oil and Gas (FOGL) and Edison International, said they would continue drilling in other parts of the region.

• Tuesday, April 14th 2015 - 09:39 UTC

  Falklands Argos in farm-out agreement with Noble Energy to drill exploratory well

  

  Noble Energy announced Monday that it has acquired additional acres offshore the Falkland Islands and plans to start drilling, despite opposition from Argentina’s government. The Houston-based oil company now holds a 75% interest in a license in the North Falkland Basin from Argos Resources Limited, an oil and gas exploration company based in the Falkland Islands.

• Saturday, April 11th 2015 - 14:27 UTC

  Seizure of YPF faces litigation from two Spanish companies demanding compensation

  

  Argentina has been sued in a US district court in New York in connection with its nationalization of oil giant YPF in 2012, according to court documents. The plaintiffs are two Spanish firms, and they are represented by a US law firm Burford Capital.

• Friday, April 10th 2015 - 05:24 UTC

  Rousseff declares Petrobras 'clean' after purging corrupt managers and practices

  

  Brazil's State-run oil company Petrobras has purged corrupt managers and put a graft scandal behind it, while hitting record output levels from offshore deposits, President Dilma Rousseff said Thursday. The indictment of former senior executives of Petrobras the investigation of dozens of political allies of Rousseff in the multibillion-dollar kickback scandal has thrown her government into crisis and undermined investor confidence in Brazil.

• Friday, April 10th 2015 - 03:09 UTC

  “UK has no doubt about sovereignty over the Falklands and Islanders right to decide their future”

  

  The UK Foreign Office summoned Argentine Ambassador Alicia Castro to object recent remarks regarding the Falkland Islands by President Cristina Fernandez and the diplomat based in London. An FCO spokesperson said that Britain has no doubt about its sovereignty over the Falkland Islands and surrounding maritime areas, nor about the Falkland Islanders' right to decide their own future.

• Friday, April 10th 2015 - 03:06 UTC

  Uruguay considering extending length of oil exploration contracts

  

  Uruguay is considering extending the length of its oil exploration contracts with foreign companies drilling in its waters in order to shore up investment at a time of plunging crude prices, it said on Wednesday. BP, BG Group, Total, a joint venture of Tullow Oil and Inpex, and a consortium of YPF, Royal Dutch Shell and Galp all have exploration agreements and have invested around $2 billion to date.