Energy & Oil

• Tuesday, August 20th 2013 - 01:14 UTC

  Tolmount gas discovery in the North Sea could be one of the largest in a decade

  

  Germany's E.ON says the size of a gas discovery made in the UK almost two years ago could be “significantly” larger than it previously thought. The integrated player said data from a recent appraisal well at the Tolmount discovery off the UK could make the find “one of the largest discoveries made in this part of the North Sea for several years”.

• Friday, August 16th 2013 - 17:46 UTC

  Ecuador ‘forced’ to drill for oil in pristine Amazon rainforest; ‘rich countries have failed us’

  

  Ecuador has abandoned a conservation plan that would have paid the country not to drill for oil in previously untouched parts of Yasuni National Park in the Amazon rainforest. President Rafael Correa said rich nations had failed to back the initiative, leaving Ecuador with no choice but go ahead with drilling.

• Friday, August 16th 2013 - 03:22 UTC

  Brazilean congress clears the way for sale of giant Libra offshore oil prospect

  

  The Brazilian congress rejected an amendment to an oil-royalty bill that threatened to derail the world's largest-ever sale of rights to develop offshore oil resources scheduled for October 21. The amendment had sought to set the Brazilian government's minimum share of “profit oil” from the sale of the giant Libra offshore prospect and other fields in Brazil's most productive oil area at 60%.

• Wednesday, August 14th 2013 - 03:13 UTC

  Chevron-YPF partnership splits the Argentina/Ecuador ‘progressive’ entente

  

  US petroleum giant Chevron has warned that the continuing legal battle with Ecuador's government over pollution charges could put in jeopardy the company's partnership with YPF to exploit the Vaca Muerta shale reserves in the Patagonian province of Neuquén, Argentina.

• Tuesday, August 13th 2013 - 02:14 UTC

  Uruguay announces on-shore oil “scientific confirmation” but with no commercial certainty

  

  The Uruguayan government announced the discovery of free hydrocarbons liquids in core samples next to source rocks in the northern county of Salto at a depth of 450 metres, which seems to be similar to another discovery two years ago.

• Sunday, August 11th 2013 - 21:51 UTC

  Beyond pigs in the pipeline: getting ahead of the leaks

  

  The 2010 Kalamazoo spill and the 2013 Exxon leak in Arkansas are the most glaring incidents, but these are just the big leaks that are found right away and reported. Most leaks are found eventually—but there is money to be saved and damage to be avoided by catching them at the smallest rupture. Right now, we rely on pigs in the pipeline to do this.

• Saturday, August 10th 2013 - 01:58 UTC

  UK opens second largest offshore wind farm in the world

  

  Greater Gabbard wind farm, which is reportedly the second largest offshore wind farm in the world, costing £1.3 billion and generating enough clean electricity to power over half a million homes, was officially opened off the British coast of Suffolk by the Energy and Business Minister Michael Fallon.

• Monday, August 5th 2013 - 02:11 UTC

  Argentine economy conditioned by energy imports and subsidized fuels and power

  

  If the Argentine government does not manage to stabilize its energy balance, which is one of the main drains of US dollars, the ban on hard currency purchases, the barriers to imports and the growing obstacles to spend money overseas for Argentine travellers will continue and could worsen, according to Buenos Aires analysts.

• Saturday, August 3rd 2013 - 02:30 UTC

  Falklands: controversy with the private sector over oil and port policy

  

  A Falkland Islands government statement of policy principles on port location and oil infrastructure development passed at Executive Council last week has been met with opposing views from members of the private sector, reports the Penguin News.

• Saturday, August 3rd 2013 - 02:25 UTC

  Brazil’s oil and gas output up in June to 2.6 million boepd

  

  Brazil's total output oil and natural gas output rose in June, the first year-on-year increase in 15 months, as fields idled for repairs came back on line and new areas boosted production, Brazil's petroleum agency, the ANP, said on Friday.