Energy & Oil

Tuesday, August 18th 2020 - 15:50 UTC
Falkland Islands and oil companies new approach to “stranded assets”

An article in World Oil by Laura Hurst refers to the term “stranded assets” and mentions the case of the Falkland Islands oil industry: the discovery a decade ago of as much as 1,7 billion barrels of crude offshore the British Overseas Territory, and rather than the next frontier, the project to extract energy risks being added to a list of what companies call “stranded assets” that could cost them huge sums to mothball.
Saturday, August 15th 2020 - 09:22 UTC
Argentine soy oil contracts under pressure from “wash out” by Chinese importers

Chinese importers have started to practice “wash out” with Argentine soy oil contracts, which is having an impact on the local industry.
Friday, August 14th 2020 - 08:30 UTC
France supports Greece in escalating row in east Mediterranean over gas reserves

France on Thursday prepared to beef up its military presence in the Mediterranean as tensions rose, prompting Turkish President Recep Tayyip Erdogan to warn of a “heavy price” if a Turkish ship exploring for gas in disputed waters is attacked.
Friday, August 14th 2020 - 07:54 UTC
US government seizes vessels loaded with Iranian oil in violation of sanctions, WSJ reports

The US government has for the first time seized vessels allegedly loaded with Iranian fuel in violation of sanctions imposed by the Trump administration, the Wall Street Journal reported on Thursday, citing US officials.
Wednesday, August 12th 2020 - 08:38 UTC
US inventories of crude fall helping to move oil prices higher

Oil prices moved higher on Wednesday after an industry report showed that U.S. inventories of crude fell more than analysts had expected, bolstering hopes that fuel demand in the world's biggest economy can weather the coronavirus pandemic.
Tuesday, August 11th 2020 - 09:00 UTC
UK's oil industry close to collapse, says Premier Oil director; North Sea not profitable below US$ 60 a barrel

The UK's oil industry is in “crisis” as prices drop, a senior industry leader has told the BBC. Oil companies and service providers are cutting staff and investment to save money.
Monday, August 10th 2020 - 07:55 UTC
Oil prices climbing on prospects of a stimulus deal to help US economy

Oil prices climbed in early trade on Monday, clawing back over half of Friday's losses, on hopes for a stimulus deal to shore up the U.S. economic recovery and a pledge from Iraq to deepen its crude oil supply cuts.
Thursday, August 6th 2020 - 09:26 UTC
Brazil doubled oil exports during July

Brazilian oil exports more than doubled in July to 8.19 million tons, compared to 3.76 million tons shipped in July 2019, according to data released by the Foreign Trade Secretariat, Secex.
Thursday, August 6th 2020 - 08:01 UTC
Petrobras opens bidding notice for the lease of Regasification Terminal in Bahia

Brazil oil giant Petrobras released a bidding notice for the lease of the Bahia LNG regasification terminal (TR-BA) and its associated facilities. The bidding will be restricted to companies accepted in the prequalification call which will follow pre-established criteria.
Wednesday, August 5th 2020 - 07:48 UTC
Itaipú dam generates more power to help Paraguayan barges with soybeans reach the River Plate

Just over two months after completing a special outflow to increase the level of the drought-stricken Paraná River, the world largest operational hydroelectric dam, Itaipu, located on the border of Brazil with Paraguay, will increase energy production to help sailing along the huge South American water artery.