Energy & Oil

Friday, October 12th 2012 - 16:50 UTC
Three extraction rigs expected to be operating in the Falklands in next 2/3 years

As the final drill in the Falkland Islands oil exploration round nears completion Director of Mineral Resources Stephen Luxton said it was a safe assumption to plan for three rigs rather than two in the next two to three years when extraction would get underway.
Friday, October 12th 2012 - 16:44 UTC
Noble Energy says Falklands’ oil production in six years if exploration well proves successful

Noble Energy Inc. (NBL) executives said on Thursday that oil production in the Falkland Islands could begin in about six years if an exploration well proves to be successful.
Friday, October 12th 2012 - 06:47 UTC
Falklands’ oil industry socio-economic impact on track with “no major new concerns”

A socio-economic impact study on the effects of an oil development project on the Falkland Islands did not reveal any, “major new concerns which had previously escaped attention Director of Mineral Resources Stephen Luxton told Penguin News this week.
Friday, October 12th 2012 - 06:23 UTC
Uruguay signs offshore contracts with oil companies: BP, BG, Total and Tullow

The Uruguayan government has signed offshore exploration and production deals with British oil firms BG Group, BP plc, Ireland’s Tullow Oil and France's Total. The companies awarded 30-year concession contracts in April for the eight oil blocks - three each for BG and BP and one each for Tullow and Total - have committed to investing a total of roughly 1.56 billion dollars.
Friday, October 12th 2012 - 00:46 UTC
Argentine energy policy further limits methanol production in south Chile

Canada’s Methanex Corporation announced on Thursday that because of severe restrictions in the provision of natural gas to its plant in the extreme south of Chile, Punta Arenas, Magallanes Region, the company is forced to another re-structuring which will leave 48 people redundant.
Thursday, October 11th 2012 - 23:44 UTC
US Noble Energy adds Nevada to its list of prospects which includes the Falklands

Noble Energy which expects go be extracting oil from the Falkland Islands before 2020, said on Thursday it plans to explore for crude oil in areas of Nevada that have seen little drilling, as the US exploration and production company starts to assess its longer-term prospects.
Thursday, October 4th 2012 - 16:41 UTC
Falklands’ commercial oil production projected to commence in 2017

By Alicia Dunkley-Willis (*) - With commercial oil production projected to commence in 2017 for the 3,000 population Falkland Islands, efforts are now underway to ensure that the impending wealth does not upset the order here.
Monday, October 1st 2012 - 22:18 UTC
Shell contracts four dynamically positioned ultra-deepwater drill-ships

Transocean Ltd. today announced on Monday it has been awarded 10-year contracts for four new build dynamically positioned ultra-deepwater drill-ships by Royal Dutch Shell (Shell).
Saturday, September 29th 2012 - 08:33 UTC
Petrobras asks court to lift ban on Swiss rig supplier and Chevron

Brazilian energy giant Petrobras on Friday asked a Rio do Janeiro court to lift a ban on operations of rig owner Transocean in connection with a major ocean oil spill last year. The company filed a civil action as “injured third party” to press for the immediate lifting of a July 31 injunction ordering US oil firm Chevron and Switzerland-based Transocean to stop drilling and shipping activities in Brazil within 30 days.
Thursday, September 27th 2012 - 18:20 UTC
Venezuela to increase oil sales to India on a 15-year supply contract

Venezuela will hike the amount of oil it is sending to India's Reliance Industries and signed a new 15-year supply contract with the company, Oil Minister Rafael Ramirez announced this week.