Energy & Oil

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.
Sunday, October 13th 2013 - 12:09 UTC
China becomes world’ biggest net importer of oil displacing the US

$US is increasingly able to support itself after the growth of its domestic hydraulic fracturing, or fracking$

China has knocked the US from its top spot as the world's biggest net importer of oil, US government data shows. The country's fast-growing economy, as well as the rise in car sales, has led to its new status, according to September's data. Oil consumption in China had outstripped production by 6.3 million barrels a day, said the Energy Information Administration (EIA). In the US, the figure was 6.1 million.
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.