(S&P Global Platts, 15.Nov.2018) â Pan American Energy, the second-biggest oil producer and third for gas in Argentina, is working with BP on potentially exporting LNG out of Chile, a project that could prove faster to get Vaca Muerta shale gas to market than building a liquefaction facility in Argentina. […]
Category: Europe
Europe energy
T&T Energy Minister: Positive Growth Forecast For NatGas Markets
(Loop News, 14.Nov.2018) â Minister of Energy and Energy Industries and President of the Gas Exporting Countries Forum, Franklin Khan, said the natural gas industry is forecast to grow within the coming year, a good indicator for Trinidad and Tobago. Speaking at a media briefing after the second session of […]
Venezuela: Oil Producerâs Slump Reflects Nationâs Decline
(Ft.com, Gideon Long, John Paul Rathbone, 28.Oct.2018) â Gideon Long in Caracas and John Paul Rathbone in Washington October 28, 2018 Print this page 95 In the lobby of the building where IvĂĄn Freites works, a photograph of an oil rig covers one wall. Emblazoned across it is the Venezuelan […]
Foreign Oil And Gas Firms Look To Play Crucial Role In Venezuela
(Energy Global, David Bizley, 19.Oct.2018) â The majority of foreign companies are not making any profit or losing money in their partnerships with PDVSA to develop and produce hydrocarbons due to inadequate investment, shattered infrastructure and US sanctions. However, in the long term, having access to the vast hydrocarbon reserves […]
Petrobras LSFO Offer Sparks Fears Of Length In Europe
(S&P Global Platts, 18.Oct.2018) â Brazil’s Petrobras is offering 50,000 mt of 0.6% cracked low sulfur fuel oil from Brazil for delivery into Europe during the first decade of November, fuel oil traders said Thursday. The cargo from Petrobras, Brazil’s biggest refiner, is not good news for European LSFO after […]
IEA Urges Opec to Open Taps as Oil Markets Enter âRed Zoneâ
(Bloomberg, Javier Blas, Grant Smith & Francine Lacqua, 9.Oct.2018) â Oil prices have rallied to a four-year-high due to US sanctions on Iran and the Venezuelan crisis, even as Saudi Arabia moved slow on filling any shortfall. The International Energy Agency (IEA) made a direct appeal to Organization of the […]
OPEC’s Decade of Turmoil Leaves Cartel Seeking a New Way Forward
(Bloomberg, Christopher Sell, 20.Sep.2018) â A global recession, both $140 and $30 oil, the U.S. shale revolution, a market-share war, and output cuts. OPECâs 60-year history has rarely confronted a more challenging period than the past decade. Now, instead of enjoying the higher prices resulting from 18 months of joint […]
International Tribunal Rules for Chevron in Ongoing Ecuador Case
(OGJ, Nick Snow, 10.Sep.2018) â An international tribunal administered by the Permanent Court of Arbitration in The Hague found that a $9.5-billion judgment that Ecuadorâs government lodged against Chevron Corp. in 2011 violated international treaties, investment agreements, and international law. Ecuador breached its obligations under a 1995 settlement agreement that […]
Venezuela to Get $250 mln from China
(Reuters, 3.Jul.2018) â Venezuela will receive $250 million from the China Development Bank to boost the OPEC nationâs oil production, the South American countryâs Finance Ministry said in a statement on Tuesday. ***
Venezuela Oil Exports to China Slump
(Reuters, 17.Jun.2018) â Reuters) – Chinaâs imports of Venezuelan crude oil could sink to their lowest in nearly eight years in July as the OPEC producer struggles with shrinking output and mounting logistics issues, according to people familiar with the matter and shipping data. State-controlled PetroChina expects June loadings from […]
Fact Sheet: Peru LNG
(Shell, 1.Jun.2018) â Peru LNG is the first natural gas liquefaction plant in South America and began operations in 2010 with a 4.45 mtpa capacity. It receives dry gas through a 408km pipeline that stretches from the highlands in the Peruvian Andes to the coast. Shell acquired 20% equity in […]
Favorable Terms To Help Guyana Prove Potential
(Rystad, 19.Apr.2018) â Rystad Energy analysis shows that Guyanaâs fiscal regime is favorable to oil companies when compared to mature oil and gas development countries but is in line when compared with other countries of equivalent maturity. The International Monetary Fund, quoted early last week by Reuters, argued that the […]
Total Enters Prolific Guyana Basin With Three Licences
(Total, 5.Feb.2018) â Total has signed agreements to acquire interests into two exploration licenses offshore Guyana, the Canje Block and the Kanuku Block. These agreements come after entering into an option agreement for the nearby Orinduik Block. Subject to the approval of relevant authorities, Total will thus own exploration rights […]
Rosneft And BP Complete TNK-BP PSA
(BP, 20.Mar.2013) â Rosneft and BP completed a number of transactions, in line with the terms announced in October 2012. As a result of the transactions: BP receives net $12.48bn in cash, including a TNK-BP dividend of $0.71bn, and 18.5% Rosneft shares; Rosneft becomes holder of BPâs 50% interest in […]