Energy & Oil

Tuesday, December 9th 2014 - 07:38 UTC
World's main oilfield services provider drastically reducing size of marine seismic fleet

Schlumberger Ltd, the world's No.1 oilfield services provider, said it was reducing the size of its marine seismic fleet to lower costs as it expects customers to cut exploration spending.
Friday, December 5th 2014 - 07:01 UTC
Falklands interested in training oil industry manpower with support from Trinidad and Tobago

Four senior oil industry business and training executives are in the Falkland Islands promoting Trinidad and Tobago’s oil industry training services. Preparing staff for the oil industry is crucial if benefits are to be injected to the local economy in the form of jobs and knowhow.
Friday, December 5th 2014 - 06:50 UTC
Could falling oil prices spark a financial crisis?

The oil and gas boom in the United States was made possible by the extensive credit afforded to drillers. Not only has financing come from company shareholders and traditional banks, but hundreds of billions of dollars have also come from junk-bond investors looking for high returns.
Thursday, December 4th 2014 - 05:51 UTC
Falling oil prices comes as a blessing for dollar-short Argentina

The slump in global oil prices will reduce Argentina's energy import bill by several billion dollars, a development that could ease pressure on the Central Bank’s strained foreign-currency reserves, according to Economy minister Axel Kicillof.
Wednesday, December 3rd 2014 - 09:25 UTC
Russian ruble suffers its biggest one day skid since 1998

The Russian ruble suffered on Tuesday its biggest one-day decline since 1998 as oil prices continued to fall on Monday, escalating fears about the Russian economy. The currency slid almost 9% against the dollar before rallying after suspected central bank intervention.
Friday, November 28th 2014 - 06:23 UTC
Oil price plunges as OPEC decides against cutting output despite world glut

Brent and US crude oil plunged as much as 6.50 dollars a barrel on Thursday, the steepest one-day falls since 2011 following on OPEC's decision against cutting output despite a huge oversupply in world markets.
Friday, November 28th 2014 - 06:13 UTC
Petrobras agrees to appoint a “governance, risk management and compliance” director

Brazil's oil and gas giant Petrobras (and currently immersed in a major corruption scandal) has decided the appointment of a director of governance, risk management and compliance mainly to ensure risk mitigation and ensure the repeat of situations of fraud and corruption, according to a release from the corporation.
Wednesday, November 26th 2014 - 06:48 UTC
Follow the sand to the real fracking boom

$This all puts frac sand in the drivers’ seat of the next phase of the American oil boom, and it has already seen its price increase up to 20% over the past year$

When it takes up to four million pounds of sand to frack a single well, it’s no wonder that demand is outpacing supply and frack sand producers are becoming the biggest behind-the-scenes beneficiaries of the American oil and gas boom.
Tuesday, November 25th 2014 - 22:59 UTC
Falklands experience in energy projects attracts strong interest in Latam conference and Chile

The Falkland Islands experience in implementing energy projects, both conventional and wind farms was shared with the attendants of the recent RELACCX (Renewable Energy Latin America and Caribbean Conference and Exhibition) event, held in Puerto Rico, and where Falklands' engineer Glenn Ross was an invited speaker.
Monday, November 24th 2014 - 10:26 UTC
Largest crane ship capable of lifting oil rigs delivered in Korea

The world's largest crane ship, which is capable of lifting oil rigs, has set sail from its shipyard in South Korea for Rotterdam Port in the Netherlands. The Pieter Schelte, which left South Korea last week is due to arrive at the port for completion in December.