Tag: oil

• 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.

• Wednesday, October 23rd 2019 - 09:45 UTC

  Brazil has collected 600 tons of oil from the spill along northeastern beaches

  

  Brazil has collected more 600 tons of oil from its northeastern beaches since Sept. 12, the government said, more than double an estimate of oil and sand collected by state-run oil company Petrobras.

• Wednesday, October 23rd 2019 - 08:58 UTC

  Major pre-salt oilfields auction could raise some US$ 50 billion for Brazil

  

  An auction next month of oilfields in Brazil may be the priciest ever held, raising at least US$ 50 billion in licensing fees and compensation. Exxon Mobil Corp., Royal Dutch Shell Plc and other energy giants are set to vie for deep-sea deposits that could hold 15 billion barrels of oil, almost twice as much as Norway’s reserves.

• Thursday, October 10th 2019 - 09:55 UTC

  Oil spill in Brazilian beaches is of Venezuelan origin, claims environment minister

  

  Large blots of oil that have turned up on more than 130 Brazilian beaches are “very probably” of Venezuelan origin, Brazil's environment minister said on Wednesday. The oil began appearing in early September and has been seen along a 2,000-kilometre stretch of the northeastern Atlantic coast - with around 130 tons of oil residue collected by Monday.

• Tuesday, October 8th 2019 - 09:03 UTC

  Oil spill in Brazil has affected 42 cities, environment minister reports

  

  Brazil’s environment minister says more than 100 tons of oil has been spilt along the northeastern coast since the beginning of September. Ricardo Salles said Monday on Twitter that 42 cities have been affected by the spills. He did not say how he reached those figures.

• Monday, October 7th 2019 - 09:40 UTC

  Russia pledges to help Cuba have access to oil and petroleum products

  

  Russia will find ways to help Cuba get oil and petroleum products, Russian Prime Minister Dmitry Medvedev said in an interview broadcast on Saturday. Medvedev pledged to help develop Cuba’s energy sector during a visit to the island this week but did not announce any short-term measures to provide relief from crippling fuel shortages in the wake of tougher U.S. sanctions.

• Saturday, October 5th 2019 - 09:12 UTC

  Mexico does not seek control of Zama, the country's major oilfield discovery in decades

  

  Mexican President Andres Manuel Lopez Obrador said that his government is not seeking to take control of the Zama oilfield discovery, which is currently operated by a private consortium led by U.S.-based Talos Energy. The statement follows on a report from Reuters earlier in the week saying that Mexico’s national oil company, Pemex, wants to take control of Zama from Talos.

• Friday, October 4th 2019 - 09:50 UTC

  Ecuador declares state of emergency to contain protests against elimination of fuel subsidies

  

  Ecuador's President Lenin Moreno declared a state of emergency Thursday as protests broke out nationwide over the end of decades-old fuel subsidies as part of a $2 billion government fiscal reform package. Police responded with tear gas in the worst unrest for years in the oil-producing Andean nation.

• Thursday, September 26th 2019 - 13:35 UTC

  What is the economic fallout from the Saudi Arabia oil facility attack?

  

  A violent attack on Saudi Arabia’s oil infrastructure was carried out earlier this month. Some 18 drones and seven cruise missiles were reportedly fired in the direction of several oil facilities in the region. The Abqaiq facility was the primary location of attack, while cruise missiles struck an oilfield in Khurais, just east of the city of Riyadh.

• Tuesday, September 17th 2019 - 09:51 UTC

  US markets in the red following attacks on Saudi oil production

  

  US stocks tumbled into the red on Monday as attacks on Saudi crude production and record jumps in oil prices whipped up investor anxieties about the global economy.