Energy & Oil

• Monday, August 31st 2020 - 09:48 UTC

  Argentina determined to promote oil and gas production and exports

  

  Argentina’s new energy secretary Dario Martinez plans to promote oil and natural gas production with a view to increasing exports as part of a strategy to pull the economy out of one of its worst crises on record.

• Monday, August 31st 2020 - 08:31 UTC

  Nuclear generated electricity increases for seventh year running

  

  Electricity generated from the world’s nuclear reactors increased for the seventh consecutive year in 2019, with electricity output reaching 2657 TWh. This was an increase of 95 TWh on the previous year, and the second-highest ever output, according to Agneta Rising, Director General of World Nuclear Association.

• Friday, August 28th 2020 - 08:24 UTC

  Rockhopper Exploration sells Ireland's United Oil stake for €3.4m

  

  Rockhopper Exploration has sold its 18.3% stake in Ireland-based United Oil & Gas for US$ 4m (€3.4m). The deal announced tonight concludes United’s reverse takeover earlier this year of Rockhopper’s Egyptian subsidiary and its operations in the Abu Sennan oil field for US$ 15.5m (€13m).

• Thursday, August 27th 2020 - 09:10 UTC

  Argentina's shale deposits will take 12/18 months to recover pre Covid-19 activity

  

  Argentina's Vaca Muerta shale patch will take 12-18 months to resume pre-Covid-19 activity because of lagging demand, according to Alejandro Monteiro, energy minister of Neuquen province.

• Thursday, August 27th 2020 - 09:09 UTC

  Is Argentina’s Shale Too Expensive To Drill?

  

  By Irina Slav, Oilprice.com – It is one of the most abundant shale plays in the world, with oil reserves of up to 16 billion barrels and gas reserves of 308 trillion cubic meters—resources that could guarantee a country’s energy independence and turn it into a relevant international supplier of oil and gas. But only if the price is right.

• Friday, August 21st 2020 - 09:40 UTC

  Oil spill from refinery triggers an environmental disaster along the Venezuelan coastline

  

  A strip of Venezuela's western coastline boasting pristine beaches and fragile ecosystems such as mangroves and coral reefs could take more than half a century to fully recover from the environmental impacts of a recent oil spill, a researcher said.

• Thursday, August 20th 2020 - 10:05 UTC

  Oil industry's recovery is incomplete but sustainable

  

  Throughout the summer, oil’s recovery from its devastating crash has looked somewhat dubious. While the price of crude rebounded somewhat, it did not wholly regain its pre-pandemic strength. And while the nations of OPEC+ put measures in place to cut production and close the gap between supply and demand, certain nations involved hinted at the reluctance to keep cuts in place. These factors, coupled with the lingering potential of fresh “waves” of the coronavirus, have kept us from being overly optimistic about the state of oil.

• Wednesday, August 19th 2020 - 09:40 UTC

  Chile's GDP plunged 14,1% in the second quarter; mining the only positive sector

  

  Chile's gross domestic product (GDP) plunged 14.1% in the second quarter, the Central Bank said on Tuesday, after the coronavirus pandemic mauled economic activity with the exception of the vital mining sector. Among the worst-hit sectors were manufacturing, construction and the hotel and restaurant sector. In the first quarter, the Chilean GDP had increased slightly by 0.2%.

• Tuesday, August 18th 2020 - 15:50 UTC

  Falkland Islands and oil companies new approach to “stranded assets”

  

  An article in World Oil by Laura Hurst refers to the term “stranded assets” and mentions the case of the Falkland Islands oil industry: the discovery a decade ago of as much as 1,7 billion barrels of crude offshore the British Overseas Territory, and rather than the next frontier, the project to extract energy risks being added to a list of what companies call “stranded assets” that could cost them huge sums to mothball.

• Saturday, August 15th 2020 - 09:22 UTC

  Argentine soy oil contracts under pressure from “wash out” by Chinese importers

  

  Chinese importers have started to practice “wash out” with Argentine soy oil contracts, which is having an impact on the local industry.