Energy & Oil

• Tuesday, February 7th 2012 - 16:57 UTC

  Oil rig operating in the Falklands signs three year contract off Norway

  

  A consortium of companies appears to be spending a large day-rate on an Ocean Rig unit which has been fixed for a firm three years off Norway. The semi-submersible Leiv Eiriksson, currently operating in Falklands waters has been wrapped up for a 15-well program over a minimum of 1070 days on the Norwegian Continental Shelf, Greek rig owner Ocean Rig said on Monday.

• Monday, February 6th 2012 - 21:59 UTC

  Argentina puts pressure on YPF: wants oil companies with long term investments

  

  Vice President Amado Boudou brushed aside ‘Repsol-YPF nationalization rumours’ and said Argentina is interested in oil companies that make long term investments and don’t fall prey of short term financial profits.

• Sunday, February 5th 2012 - 07:47 UTC

  Brazil strikes onshore light oil in the Amazonas state; record oil and gas in 2011

  

  Brazil's state-controlled oil company Petrobras announced last week it had struck good-quality light oil in the Solimoes Basin, in the state of Amazonas.

• Friday, February 3rd 2012 - 18:25 UTC

  Shell announces major investment drive to boost falling production

  

  Royal Dutch Shell has said it will launch a major investment drive in an effort to boost falling production. The oil giant said it would spend 30bn dollars on new oil and gas projects this year, compared with 24bn in 2011.

• Wednesday, February 1st 2012 - 14:43 UTC

  Falklands’ second exploration round takes off south of the Islands

  

  A new round of Falkland Islands oil exploration began this week when London AIM listed Borders & Southern Petroleum plc announced that their first exploration well, located approximately 140 kilometres south of the Islands, was spudded on 31st January 2012.

• Wednesday, February 1st 2012 - 06:55 UTC

  Brazil’s Petrobras admits second oil spill in less than a week

  

  Brazil's state-run energy giant Petrobras on Tuesday reported that 160 barrels of crude oil may have spilled from a deep-water well off Sao Paulo state but said the situation was under control.

• Saturday, January 28th 2012 - 09:56 UTC

  Argentina has “phenomenal” tight natural-gas prospects and “explosive output” is forecasted

  

  Exxon Mobil Corp and Americas Petrogas Inc have “phenomenal” tight natural-gas prospects in Argentina and expect “explosive” output growth in 5 years, said Guimar Vaca Coca, managing director of Americas Petrogas.

• Friday, January 27th 2012 - 02:44 UTC

  Falklands’ oil industry says first round of exploration was “hugely successful”

  

  Falklands’ oil industry sources said the round of oil exploration began in 2010 with the “Ocean Guardian” rig and just concluded, involving Rockhopper Exploration and Desire Petroleum, was “hugely successful” with several major oil and gas discoveries.

• Monday, January 23rd 2012 - 17:19 UTC

  US oil company makes 1.6bn dollars offer for Falklands’ Rockhopper: shares soar

  

  Rockhopper Exploration Plc shares surged in London trading following a report that Texas based Anadarko Petroleum Corp. is in talks with the only company to have made a commercial oil discovery off the Falkland Islands.

• Monday, January 23rd 2012 - 17:00 UTC

  UK offshore drilling activity in UK waters fell to its lowest since 2003

  

  Offshore drilling activity in UK waters fell by a third last year to its lowest level since 2003, going against a trend of increased exploration and appraisal activity in the rest of north-west Europe, according to a new report.