Energy & Oil

• Thursday, October 24th 2013 - 07:44 UTC

  Falklands' oil companies FOGL and Desire merger should be finished by 19 December

  

  Falkland Oil and Gas Ltd updated investors on its proposed merger with Desire Petroleum (DES) Wednesday lunchtime, signaling the combination should be finished by 19 December.

• Thursday, October 24th 2013 - 07:36 UTC

  Consortium led by Total to invest 1.2bn offshore Tierra del Fuego for natural gas

  

  France's Total will lead a 1.2 billion dollars project to produce natural gas off the coast of Tierra del Fuego in the extreme south Argentina. In partnership with Wintershall AG and Pan American Energy LLC, they will drill as deep as 5.5 kilometers in the Vega Pleyade field, according to Javier Rielo who heads the project.

• 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.