tag:blogger.com,1999:blog-72915638599321614222024-11-08T10:59:31.693-06:00SC5 Digital Oil, Gas and Energy news you can use from Upstream to Downstream Technology and Financial Risk Management SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.comBlogger88125tag:blogger.com,1999:blog-7291563859932161422.post-79235237492692184672014-01-24T12:02:00.001-06:002014-01-24T12:02:49.387-06:00

Shareholders of Santa Maria Petroleum (TSX-V: SMQ) voted to approve the sale of all substantial assets of their Colombian branch, according to the company. In November of 2013 Santa Maria entered a share purchase agreement with Global Oil & Gas Services, which will acquire all shares of the newly incorporated wholly owned subsidiary of Santa Maria (Newco). The sale of the assets

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-76212256888505118612014-01-24T11:59:00.002-06:002014-01-24T11:59:47.430-06:00

Costa Ricans on February 2 will cast ballots to elect a new president who will succeed Laura Chinchilla whose four year term ends May 8. The road, however, to the country's top government post has yet to provide a clear front runner as three of five candidates each share voter preference of 20-25%. A runoff would be held if a candidate fails to garner over 40% of the vote. The top

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-28865411186949281482014-01-24T11:56:00.002-06:002014-01-24T11:56:32.876-06:00

While Mexico's recent reform package has whetted the appetite of local and international investors, it will take time to overhaul the energy sector, while state oil company Pemex and the country's regulatory body adjust to the new reality, according to Pablo Medina at energy consultancy Wood Mackenzie in Houston. BNamericas: Do you expect the opening of Mexico's energy

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-49502953314309903452014-01-23T14:35:00.000-06:002014-01-23T14:35:09.915-06:00

New World Oil & Gas (LON:NEW) has secured a six month extension to its work programme deadlines on its two licences in Denmark. The extension for the onshore licences 1/09 and 2/09 now runs to June 17 this year. This will allow the group to continue discussions with potential farm-in partners, it said. In return, the AIM listed explorer has committed to carrying out a passive gas

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-28036404767581983122014-01-19T01:08:00.000-06:002014-01-19T01:08:57.478-06:00

Energy markets are big and complicated, we are told – but the US does not have the capability to export natural gas to Japan, so how can US shale gas possibly help keep Japan's lights on, following the Fukushima tragedy? Energy markets are full of questions like this: Are we running out of oil? When? Will Chinese coal consumption keep rising? What does it mean for carbon emissions? It is

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-7651264606128777762014-01-19T00:58:00.000-06:002014-01-19T00:58:12.614-06:00

So far, the public discourse around the economic implications of shale oil and gas is dominated by the question whether cheaper energy prices will give the US a competitive advantage and may even trigger its industrial revival. In the grand scheme of things, this will turn out to be a peripheral issue. More important are the global capital flows associated with the new production centres

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-43567975508177187622014-01-19T00:54:00.000-06:002014-01-19T00:54:19.192-06:00

Having to make local decisions does not mean that the geopolitics of energy become less important. In fact, the third implication has been most widely recognized: It concerns the geopolitical consequences of shifts in the established centres of production and consumption. Nowhere is this better exemplified than by looking at the role of the Middle East. We all have grown up in a world in

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-75385411270580604982014-01-19T00:50:00.000-06:002014-01-19T00:50:50.803-06:00

Our industry is fond of distinguishing "above ground" from "below ground" factors when debating resource access. Below ground is geology, circumstances inherited from nature; above ground lure man-made conditions, such as the political, legal or economic framework. The role of "above ground" political discussions is likely to reach new heights in determining whether, where and when shale

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-8704662761043281872014-01-19T00:46:00.001-06:002014-01-19T00:46:29.421-06:00

Pressure on the configuration of oil and gas markets One of the first questions raised by the shale "revolution" will be about the impact of rising shale oil (and gas) production on markets and prices. Let's concentrate on oil. In a normal market, prices should fall and the only issue for an economist would be to calculate how fast and by how much. But the oil market is not exactly 'normal':

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-27329880984284353012014-01-07T22:21:00.003-06:002014-01-07T22:21:54.598-06:00

Daniel Yergin talks about where it's coming from and what it will mean for the U.S.—and the world The U.S. has long been seen as an energy hog. Thanks to hydraulic fracturing and deep water technology, it is now pumping more oil than it has in more than a decade, and its growing status as a crude producer is taking the world by storm. Here are edited excerpts from the

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-36526924336820052822014-01-05T16:53:00.000-06:002014-01-05T16:53:19.754-06:00

The global oil market in 2013 was dominated by geopolitical disruptions, a huge boom in U.S. domestic production, and double-digit gains for energy investors. Energy stocks rose about 18% in 2013. This year's gains should be even better, especially if investors follow the five biggest oil investing trends of 2014. Just look at what's happening in the United States... The U.S.

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-14014874544556417742014-01-03T12:33:00.001-06:002014-01-03T12:38:26.020-06:00

Senators will start the year by debating the secondary legislation to accompany the country's energy reform package, and which will govern the contracts between Mexico's Pemex, CFE and the private sector. The Senate's energy, constitution and legislative studies commissions will dedicate the first quarter to drawing up the legislation that will provide transparency

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-84544259267062147132014-01-03T12:09:00.000-06:002014-01-03T12:09:29.668-06:00

Hydrocarbons E&P, renewables and T&D infrastructure will drive the Caribbean and Central America's energy sector in 2014 as stakeholders look to scale up activity on all fronts. Caribbean efforts will be led by natural gas and oil veteran Trinidad and Tobago where authorities will work to finalize onshore and offshore E&P rounds to buttress an industry challenged by

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-15585590751648958152014-01-03T11:55:00.000-06:002014-01-03T11:55:20.569-06:00

Crude prices steadied on Friday, having shed around US$3 a barrel yesterday, the first trading day of 2014. For Brent crude, the international benchmark, it was the biggest fall for about six months and leaves the price near the bottom of the recent trading range. The fall was precipitated by the renewed expectation that Libya would shortly bring the El Sharara oilfield back online and ramp

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-41028867199522597172014-01-03T11:16:00.000-06:002014-01-03T11:59:26.899-06:00

Anyone following the energy markets in the U.S. is well aware of the fact that production of oil and gas from shale resources has been booming in recent years. According to the Energy Information Administration, output from shale now represents 29 percent and 40 percent of the country's total oil and natural gas production, respectively. The increase in U.S. shale oil production has been so

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-18207665861778232192014-01-03T11:01:00.001-06:002014-01-03T11:01:45.446-06:00

Peak Oil and Gas raising $2.4 million through fully underwritten pro-rata non-renonceable rights issue. Peak Oil and Gas (ASX: PKO) is raising up to $2.4 million to fund its exploration commitments in the South Block A production sharing contract in North Sumatra, Indonesia.Octanex (ASX: OXX) is fully underwriting Peak’s pro-rata non-renounceable rights issue priced at $0.01 each

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-83288699763791768012014-01-03T10:35:00.001-06:002014-01-03T10:37:37.440-06:00

Energy industries expected to make headway in 2014 in the Andean region are refining and renewables. Compliance with stricter fuel quality standards and diversification toward higher value added end products coupled with work to optimize production will drive refinery overhaul and modernization work. Progress, however, along with original scope and size will be conditioned by cost overruns

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-14566239503891657942014-01-03T00:04:00.001-06:002014-01-03T00:04:16.183-06:00

Infinity Energy Resources has completed a 2D seismic survey covering selected areas within its offshore Nicaragua oil and natural gas concessions, the company said in a release. The 2-D seismic mapping was conducted by geosciences firm CGG (NYSE: CGG) on both the Tyra and Perlas blocks that comprise Infinity's concessions, which cover some 1.4mn acres (566,560ha).

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-37675586325914230612014-01-02T23:58:00.000-06:002014-01-03T07:36:28.609-06:00

Spanish oil company Repsol (NYSE: REPYY) has closed the US$4.1bn sale of its LNG assets in Peru and Trinidad and Tobago to Anglo-Dutch oil giant Shell (NYSE: RDS), according to a company press release. In October, Repsol sold its US$200mn stake in Bahía Bizkaia Electricidad (BBE) to UK-based major BP (NYSE: BP). Together the sales have generated

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-21142317149580948482013-12-30T22:52:00.000-06:002013-12-30T22:52:41.854-06:00

Technip and China Offshore Oil Engineering Co (COOEC), the largest offshore engineering and construction company in China, have signed a joint-venture agreement in September. The five-year agreement, which builds on existing relationships, combines the know-how, technical resources, complementary assets as well as commercial and financial capabilities of both companies to target deepwater

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-23134519147409637042013-12-30T22:25:00.000-06:002013-12-30T22:25:34.983-06:00

Trinidad and Tobago-focused E&P firm Trinity (AIM: TRIN) completed Rig 2 upgrades at its Galeota license offshore Trinidad, according to a release by the firm. The upgrades will improve drilling efficiency and reduce costs, said the firm. Infill drilling operations on the producing Trintes field have been delayed by bad weather but will recommence shortly with the spudding of the B9

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-84412719408519700532013-12-30T22:21:00.000-06:002013-12-30T22:23:16.792-06:00

Oil and gas companies are expected to invest between US$5bn and US$6bn in 2014 in the Argentine province of Neuquén, according to local press, citing a report by the provincial government. The forecasted investment for next year represents a significant increase from the US$4.1bn invested in Neuquén E&P in 2013. Unconventional plays will receive the majority of the capital influx, with the

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-50261931688832110382013-12-30T12:28:00.000-06:002014-01-03T12:29:07.106-06:00

ALBANY, N.Y. (AP) -- Born of the energy crisis of the 1970s, gas driller Lenape Resources flourished in western New York for more than three decades -- until the revolutionary technology that sparked the nation's shale gas boom brought the industry to a screeching halt in New York under a moratorium now in its sixth year. Today, Lenape has just five employees, down from 100 in years past.

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-85968010343075741462013-12-30T02:08:00.000-06:002013-12-30T15:05:01.482-06:00

Northern Petroleum (LON:NOP) has told investors that the proved and probable (2P) reserves for the Rovesti and Giove discoveries in the southern Adriatic sea will be downgraded to contingent resources. This comes as NOP’s contractor ERC Equipoise submitted its interim findings of a resources review of the two assets. The company says it will be able to add value to the discoveries

SC5http://www.blogger.com/profile/09159394528363340974noreply@blogger.com0tag:blogger.com,1999:blog-7291563859932161422.post-65159590779547830592013-12-30T01:18:00.000-06:002013-12-30T15:12:59.108-06:00

1) Congress passes landmark energy reform This one was big and may fit better into other categories like "Top Mexico stories of 2013" or "Top Mexico energy stories of the decade." After months of expectation, congress brought a bill forward December 7 and passed it within six days. The legislation brings unprecedented openness to both the oil and gas and electric power sectors.

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