Tag: oil

• 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.

• Sunday, November 4th 2018 - 15:02 UTC

  Fuel goes up 7% in Argentina, 14th increase in 2018 to reach a total 65% this year

  

  The retail price of fuel went up around seven percent this weekend in Argentina, for an aggregate 65 percent yearly rise that led impoverished consumers to use other transport means to make up for it.

• Tuesday, October 23rd 2018 - 08:53 UTC

  Saudi Arabia: no intention of a repeat of a 1973-style oil embargo

  

  Saudi Arabia has no intention of unleashing a 1973-style oil embargo on Western consumers and will isolate oil from politics, the Saudi energy minister said on Monday amid a worsening crisis over the killing of Saudi journalist Jamal Khashoggi.

• Wednesday, October 10th 2018 - 17:04 UTC

  Oil Price Rally Boosts Electric Car Sales

  

  Tesla's competition is about to get more crowded next year with many legacy automakers and luxury brands launching a record number of battery electric vehicles and plug-in hybrids.

• Friday, September 28th 2018 - 08:47 UTC

  Oil majors to bid for Brazil's offshore potential despite electoral uncertainty

  

  Oil majors are set to gather in Rio de Janeiro this Friday to unveil bids for stakes in Brazil’s high potential offshore areas ahead of elections that are casting a cloud of uncertainty over the industry.

• Monday, September 24th 2018 - 09:15 UTC

  Petrobras plans to increase output 10% next year to some 2.3 million bpd

  

  Brazil’s state-run oil giant Petrobras aims to raise output as much as 10% to around 2.3 million barrels per day (bpd) in 2019 and cut net debt by US$10 billion, according to Chief Financial Officer Rafael Grisolia. The world’s most indebted oil company is on course to reduce debt to US$ 69 billion by the end of this year despite falling short of its US$ 21 billion asset sales target, Grisolia pointed out.

• Friday, September 21st 2018 - 09:03 UTC

  Falklands could allow floating hotels for oil industry workers

  

  An outline planning application submitted to the Falkland Islands Government, FIG, is seeking approval in principle for the siting of a floating accommodation barge in Stanley Harbor.

• Wednesday, September 19th 2018 - 08:11 UTC

  China agreed to invest US$ 5bn in Venezuelan oil, alleges Maduro

  

  Venezuelan President Nicolas Maduro said on Tuesday that new investments from China will help his country dramatically boost its oil production, doubling down on financing from the Asian nation to turn around its crashing economy.