Tag: oil

• Thursday, December 6th 2018 - 09:32 UTC

  YPF and Malaysia's Petrona committed to invest US$ 2.3bn in Vaca Muerta

  

  Argentina's state-run energy company YPF and Malaysia's Petronas agreed this week to invest US$ 2.3 billion in a shale oil project in Vaca Muerta, with a target of reaching 60,000 b/d of oil equivalent by 2022. The investment will be in La Amarga Chica, where the companies have been testing the shale oil potential since 2015 and have spent US$ 550 million to date in the process, YPF said in a statement.

• Thursday, December 6th 2018 - 08:28 UTC

  Mexican president pressing foreign oil companies to show results

  

  Mexico’s newly inaugurated president Andres Manuel Lopez Obrador, AMLO, is turning up the heat on foreign oil companies to show results before he holds new auctions.

• Thursday, December 6th 2018 - 08:24 UTC

  Guyana's tenth oil discovery makes her a future Latin American powerhouse

  

  Thanks to ExxonMobil’s run of success in oil exploration offshore Guyana, the country is on a path to becoming a Latin American powerhouse, Wood Mackenzie said. The super-major announced its tenth Guyana discovery this week, increasing the discovered recoverable resource in its Stabroek Block to more than five billion barrels.

• Wednesday, December 5th 2018 - 08:39 UTC

  Brazil's oil and gas output rose strongly in October after five flat months

  

  Brazil's domestic crude oil output rose for the first time in five months in October as production from the subsalt region continued to grow and fewer floating production units were idled by maintenance shutdowns during the month.

• Tuesday, December 4th 2018 - 08:41 UTC

  Qatar exits OPEC on January to concentrate as world's largest LNG exporter

  

  Qatar said it will quit OPEC to focus on gas in a swipe at Saudi Arabia, the de facto leader of the oil exporting group which is trying to show unity in tackling an oil price slide. Doha, one of OPEC’s smallest oil producers but the world’s biggest liquefied natural gas (LNG) exporter, is embroiled in a row with OPEC members Saudi Arabia and the United Arab Emirates.

• Tuesday, November 27th 2018 - 09:00 UTC

  Brazil Eyes US$ 30 Billion Offshore Oil Boom

  

  Over the past few years, Brazil has held several very successful oil auctions under production-sharing contracts in its pre-salt layer, attracting major oil companies to its prized offshore oil area.

• Wednesday, November 21st 2018 - 08:17 UTC

  Khashoggi syndrome: Crude prices at their lowest since 2017; fears of further market volatility

  

  Crude prices hit their lowest level since 2017 on Tuesday, sliding further into a bear market after President Donald Trump signaled the US would not punish Saudi Arabia, the world’s largest oil exporter, over the killing of Washington Post journalist Jamal Khashoggi in its Istanbul consulate.

• Saturday, November 17th 2018 - 08:56 UTC

  Premier Oil confident in reducing debt; begins drilling in Mexico

  

  Premier Oil said it expected full-year production to come in at the low end of a previously announced 80,000 to 85,000 barrels per day range. The company, with interests in the Falkland Islands and which has been focusing on cutting debts, also said its debt pile would shrink to US$ 2.4 billion by the year-end.

• Monday, November 12th 2018 - 18:13 UTC

  Oil producing countries agree on need to cut down crude output due to oversupply

  

  They call it “production adjustments,” but in reality most major oil extracting countries agreed Sunday new strategies regarding crude output were needed in light of the surplus accrued over the past few months.

• Friday, November 9th 2018 - 08:27 UTC

  Oil down 20% from its October peak despite US sanctions on Iran

  

  Oil markets on Friday remained weak as rising supply and concerns of an economic slowdown pressured prices, with U.S. crude now down by 20% since early October. U.S. West Texas Intermediate (WTI) crude oil futures were at US$ 61.63 per barrel.