Energy & Oil

• Sunday, October 13th 2013 - 11:57 UTC

  Venezuela arrests oil-exploration vessel in disputed waters with Guyana

  

  Guyana says the Venezuelan navy has entered its territorial waters and detained a US-operated ship. The government said the Venezuelan actions in the disputed Essequibo region constituted “a serious threat to peace in the region”.

• Saturday, October 12th 2013 - 10:19 UTC

  Balancing Geological Potential and Political Risk: Interview with Tony Hayward

  

  From Kurdistan to Somaliland, for independent oil companies, getting your hands on new exploration acreage where both technical risk and political risk are low is impossible. Exploring for oil and gas in new frontiers is all about striking the right balance between geological potential and political risk. Take it from Anglo-Turkish Genel Energy, the largest producer in the Kurdistan Region of Iraq (KRI), where it seems nothing can shake investor confidence right now.

• Friday, October 11th 2013 - 08:11 UTC

  Don’t be fooled by Libya: this is a failed state

  

  Gunmen this week seized Libyan Prime Minister Ali Zeidan from a hotel in central Tripoli, releasing him shortly afterwards, but making it clear that post-Gaddafi Libya is a failed state and that the government is incapable of taking full control over its oilfields and export terminals

• Wednesday, October 9th 2013 - 05:38 UTC

  Brazil expected to announce “the largest oil discovery in the world this year”

  

  Petrobras CEO Maria das Gracas Foster described as ‘simply exceptional’ the latest discovery of hydrocarbons off the coast of the north-eastern state of Sergipe on the Atlantic but declined to give further details of the prospect. Even when the Brazilian administration has abstained from making any announcement the Sergipe government has said “it is the largest oil discovery in the world this year”.

• Wednesday, October 9th 2013 - 05:33 UTC

  French Total signs to explore for oil to the north of Uruguay

  

  French energy giant Total signed on Tuesday a deal with Uruguay’s oil company Ancap to search for oil in the northern counties of Artigas and Salto in an area of 6.200 square kilometres.

• Tuesday, October 8th 2013 - 18:15 UTC

  Brazil limits Chinese state-controlled companies to joint bidding for largest offshore oil prospect

  

  Brazil is limiting Chinese state-controlled oil companies to joint bids to develop its largest offshore oil discovery, amid concerns the players could share data and reduce competition ahead of the 21 October auction, said Brazilian officials.

• Sunday, October 6th 2013 - 06:51 UTC

  Petrobras sells to Shell two oil prospects offshore Uruguay

  

  Brazil’s state-run oil company Petrobras approved the sale of the company's stake in two oil prospects in Uruguay's Punta del Oeste Basin to Royal Dutch Shell Plc for 17 million dollars, according to a filing late on Friday. The two prospects are identified as Blocks 3 and 4.

• Sunday, October 6th 2013 - 06:40 UTC

  Falklands ‘confident’ about ‘mutually acceptable outcome’ on taxes with oil company

  

  The Falkland Islands Government remains, “confident that a mutually acceptable outcome can be reached with Rockhopper,” on the matter of their tax bill from FIG, confirmed Financial Secretary Nicola Granger last week and indicated the situation would have no impact on local tax laws.

• Friday, October 4th 2013 - 06:47 UTC

  Uruguay’s annual inflation in September reached 9.02%; minister confident it will be brought down

  

  Uruguay’s consumer inflation soared 1.36% over August in September boosted by increases in energy and fuel, transport, milk and other basic items, according to the latest release from INE, the government’s data office. This means inflation in the last twelve months climbed to 9.02% from a month ago (8.86%) and 8.2% in the first nine months of 2013.

• Thursday, October 3rd 2013 - 23:12 UTC

  Argentine oil company finds way to invest in Vaca Muerta and elude legal action from Repsol

  

  One day after the Argentine government extended the deadline to legalize undeclared cash, energy company Bridas International gave new life to the BAADE energy bonds, the most relegated portion of the whitewash scheme, by saying it would snap up 500 million dollars of the paper.