Energy & Oil

Friday, May 15th 2015 - 07:32 UTC
Petrobras production from pre-salt fields reaches milestone 800.000 bpd

Brazil’s Petrobras said that oil production in Santos and Campos basin pre-salt fields reached a milestone production volume of 800Mbbl/d. The volume was recorded on April 11, with 74% (590Mbbl/d) Petrobras’ share with the remainder belonging to partner companies working in different pre-salt areas.
Friday, May 15th 2015 - 07:15 UTC
Cristina Fernandez comes out strongly in defense of minister Kicillof

President Cristina Fernandez has questioned accusations against Economy Minister Axel Kicillof over his alleged YPF monthly salary of 400.000 Argentine Pesos (approx 35.000 dollars).
Friday, May 15th 2015 - 04:41 UTC
Exxon discovers oil off Guyana coast, in territory claimed by Venezuela

Exxon Mobil Corp has discovered oil off the coast of Guyana, the company and the South American nation's government said on Thursday, potentially inflaming a long-running territorial dispute with neighboring Venezuela.
Thursday, May 14th 2015 - 08:17 UTC
Saudi Arabia continues to turn screws on U.S. Shale

Saudi Arabia continues to ratchet up production, taking market share away from U.S. shale producers. According to OPEC's latest monthly oil report, Saudi Arabia boosted its oil output to 10.31 million barrels per day in April, a slight increase over the previous month's total of 10.29 million barrels.
Thursday, May 14th 2015 - 00:17 UTC
Premier confirms Falklands' frontier exploration, where it continues drilling

Premier Oil, currently involved in successful exploratory drilling in the Falkland Islands, produced less oil and gas in the first quarter of the year, but its output of 60,200 barrels of oil equivalent per day (boepd) was above guidance, sending its shares higher on Wednesday.
Wednesday, May 13th 2015 - 08:37 UTC
IDB 216m dollars loan for Uruguay to support construction of wind farms

The Inter-American Development Bank (IDB) continues to support the expansion of renewable energy in Uruguay through two financial packages, totaling 216 million dollars, which were approved for the private sector to finance part of the construction of the Colonia Airas and Valentines wind farms and their related works.
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.