Energy & Oil

Thursday, October 24th 2013 - 07:25 UTC
Former Ecuadorean judge admits taking bribes in pollution case against Chevron

A former Ecuadorean judge who presided over a pollution case against Chevron Corp. (CVX) testified that he and a colleague who issued a 19 billion judgment against the company in the environmental lawsuit were bribed.
Wednesday, October 23rd 2013 - 21:21 UTC
Petrobras with sufficient funds to operate Libra; denies need of fuels price increase

Petrobras has sufficient funds on hand to pay its share of a hefty Brazilian government fee for operations at the Libra offshore “pre-salt” oil field and won't need to request a fuel-price increase to meet the obligation, the company's president Graca Foster said on Wednesday.
Wednesday, October 23rd 2013 - 20:55 UTC
BP to supply the bulk of Argentina's natural gas demand in 2014 and 2015

Argentina's state-run energy firm YPF has picked BP to supply the bulk of its liquefied natural gas (LNG) needs in 2014 and 2015 following a major recent tender, according to media sources in Buenos Aires. Energy short Argentina last month launched its annual tender to secure approximately 5.57 million tons of LNG over the 2014-2015 period to help cover its energy needs.
Tuesday, October 22nd 2013 - 15:11 UTC
The big winners in Kenya’s oil debut

Kenya will start pumping its first commercial oil next year and begin exporting in 2016, but this is just the opening salvo: new discoveries in recent months and fast-track new well development make Kenya the darling of East Africa from an investor’s perspective.
Monday, October 21st 2013 - 21:41 UTC
Brazil auctions 35-year production rights to giant offshore Libra oil area

Brazil sold production rights to develop the giant offshore Libra oil area to a consortium led by Brazilian state-run oil company Petroleo Brasileiro SA in an auction with a single bid on Monday. The auction in Rio do Janeiro took place amid strict security measures with hundreds of police forces clashing with protestors.
Monday, October 21st 2013 - 07:13 UTC
Uruguay among the countries in Latam with the highest power costs

Uruguay is among the Latin-American and Caribbean countries with the highest power costs according to a paper from the Inter-American Development Bank, IDB, Bloomberg and New Energy Finance. This is extensive both for residential consumers and for manufacturing and large consumers.
Saturday, October 19th 2013 - 20:47 UTC
Falklands oil company purchases dock facility and readies for 2015 drilling

Noble Energy the US oil company involved in hydrocarbons exploration in the Falkland Islands has already purchased a temporary dock facility, is looking for a rig to start exploratory drilling in early 2015 and next month begins additional 3D seismic surveying.
Wednesday, October 16th 2013 - 20:45 UTC
United States becomes world’s largest producer of oil in 2013

With the help from shale oil, the United States is the world's largest producer of oil in 2013, according to data presented at PIRA Energy Group's recent Retainer Client Seminar held in New York City.
Wednesday, October 16th 2013 - 00:33 UTC
Premier Oil, with Falklands’ interests buys into exploration project in Kenya

Premier Oil, which has a farm in agreement with Falkland Islands Rockhopper Exploration, is buying into an exploration project in Kenya, by farming into onshore Block 2B.
Tuesday, October 15th 2013 - 23:09 UTC
Chevron/Ecuadorean villagers case in new chapter before a US Judge

Chevron Corp will try to convince a US judge that a group of Ecuadorean villagers and their US lawyer used bribery to win a 18 billion dollars judgment against Chevron from a court in Ecuador, in the latest chapter in a long-running fight over pollution in the Amazon jungle.