Energy & Oil

Wednesday, November 6th 2019 - 09:22 UTC
US crude stockpiles glut forces oil prices down

Oil prices dropped on Wednesday after industry data showed a larger-than-expected build-up in U.S. crude stockpiles, but expectations for an easing of trade tensions between the United State and China capped losses.
Tuesday, November 5th 2019 - 09:45 UTC
Falklands extends duration of Rockhopper and Argos Resources oil exploration licenses

Rockhopper Exploration PLC said on Monday that the Falkland Islands government has extended the duration of the PL032 Discovery Area License until May 1, 2021, with no additional license commitments.
Tuesday, November 5th 2019 - 09:36 UTC
Brazilians desperately cleaning the oil spill ahead of the peak tourism season

Months after thick oil began turning idyllic beaches in Brazil into “black carpets,” workers and volunteers wearing rubber gloves race against time to scrape off the remaining fragments ahead of the country's peak tourism season.
Monday, November 4th 2019 - 09:45 UTC
Greek company denies any connection of one of its tankers with the massive oil spill in Brazilian beaches

The manager of an oil tanker being probed by Brazilian authorities in connection with an oil spill off the country’s coast has found “no proof” of the vessel conducting activities that may have led to leaks on a journey between Venezuela and Malaysia.
Monday, November 4th 2019 - 09:25 UTC
Saudi Arabia seeks to diversify economy, floats oil giant Aramco in search of funds

Saudi Arabia's giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in what could be the world's biggest listing as the kingdom seeks to diversify its economy away from oil.
Monday, November 4th 2019 - 08:31 UTC
Hess/ExxonMobil first oil in bountiful Guyana scheduled for December

Hess Corp's first oil in Guyana, where it is a partner in the crude-rich ExxonMobil-led Stabroek offshore block, will be in December, ahead of the previously stated Q1 2020 date, a top company executive said on Friday.
Friday, November 1st 2019 - 09:49 UTC
Brazil's oil slick heading to unique coral reefs; Navy has cut down possible culprits of the spill to ten vessels

With mystery oil slicks still moving down Brazil's coast, the Brazilian Navy sent more ships on Thursday to try to prevent the pollution of unique coral reefs of the Abrolhos Archipelago marine park, a haven of South Atlantic Ocean biodiversity.
Wednesday, October 30th 2019 - 09:23 UTC
Oil spills on Brazil's northeast beaches, “the worst environmental attack”

Oil spills washing up on beaches along more than 2,000 kilometers of Brazil’s northeast coastline could be the worst environmental “attack” in the country’s history, the CEO of Petrobras said on Tuesday.
Wednesday, October 30th 2019 - 08:36 UTC
Brazil has become a beacon for Big Oil foreign investment in the energy sector

When oil executives arrive in Rio de Janeiro this week for Brazil’s biennial Offshore Technology Conference, they will find themselves in Latin America’s most promising market for Big Oil by far. This signals a dramatic change from only a year ago.
Friday, October 25th 2019 - 09:55 UTC
Falklands oil industry has three planned and announced three FPSOs

South America, including the Falkland Islands, has the highest number of planned and announced floating production storage and offloading (FPSO) additions globally between 2019 and 2025, with 27 projects. This is followed by Africa, Asia and Europe with a respective 15, eight and seven FPSOs, says GlobalData, a leading data and analytics company.