Energy & Oil

Friday, November 16th 2012 - 00:42 UTC
BP pleads guilty to Gulf of Mexico spill and will pay a record 4.5bn

BP Plc agreed on Thursday to plead guilty to a raft of charges in the deadly Gulf of Mexico spill and pay a record 4.5 billion dollars including the biggest criminal fine in United States history. Three BP employees were also charged, two of them with manslaughter.
Wednesday, November 14th 2012 - 07:08 UTC
Petrobras strikes oil and gas in extreme south of Argentina at the Springhill field

Petrobras Argentina reported this week that it made a new oil- and gas-field in the northern area of the Puesto Peter franchise, which is located in the Patagonia province of Santa Cruz.
Tuesday, November 13th 2012 - 20:51 UTC
Latam rapidly turning into middle class continent, says World Bank

A World Bank report released Tuesday found that Latin America and the Caribbean registered a 50% jump in the number of people joining the middle class during the last decade, which was called by economists an historic achievement for a region long exposed to wealth inequality.
Tuesday, November 13th 2012 - 00:56 UTC
US to overtake Saudis and Russia as world’s top oil producers by 2’17, says IEA

The United States is forecasted to overtake Saudi Arabia and Russia as the world's top oil producer by 2017, the West's energy agency said on Monday. The International Energy Agency (IEA) said it saw a continued fall in US oil imports with North America becoming a net oil exporter by around 2030 and the United States becoming almost self-sufficient in energy by 2035.
Friday, November 9th 2012 - 06:23 UTC
Chile’s ENAP and BG clash over supply of LNG from Egyptian fields

Chilean government owned oil and gas company, ENAP, described as ‘unacceptable’ British Gas announcement to GNL Chile that its will not comply with provision contracts next year.
Wednesday, November 7th 2012 - 22:29 UTC
Falklands’ experience helps revolutionize oil and gas industry technology

Working on experience gained from the relocation of thousands of tons of equipment from Aberdeen to the Falkland Islands for the round of exploratory drilling started in 2010 has helped a Scottish company launch a software program set to revolutionize the oil and gas industry.
Friday, November 2nd 2012 - 23:07 UTC
Falklands extends Rockhopper licences to evaluate further oil potential

The Falkland Islands government has granted a one year extension for Rockhopper Exploration’s production licences PL023 and PL024. The licences, in which Rockhopper has a 40% interest, have been extended until November 2013, with no requirement for the operator to perform further work on the licences in that time.
Thursday, November 1st 2012 - 00:10 UTC
Hedge funds quietly investing in Falklands’ oil exploration companies

Hedge funds have been quietly building up stakes in the oil explorers operating off the Falkland Islands betting that companies will ignore the threats made by Argentina to disrupt the activity, according to a Reuters’ piece published this week.
Wednesday, October 31st 2012 - 23:13 UTC
Falklands’ Desire Petroleum plans for the next three years

Planning ahead for the next three years Falkland Islands Desire Petroleum announced on Wednesday changes to its Production Licences following approval received from Executive Council.
Wednesday, October 31st 2012 - 02:08 UTC
New York working to restore transit service in wake of historic storm

Thousands of New York Metropolitan Transportation Authority workers began on Tuesday to fan out through the system to inspect and begin repair of the damage caused by Hurricane Sandy, a massively destructive storm of historic proportions.