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Repsol sues YPF for offering Vaca Muerta to other oil companies

Published on Oct. 9, 2012

 
Read Repsol sues YPF for offering Vaca Muerta to other oil companies

The Commerce Court n. 1 in Madrid upheld the claim brought by Repsol against YPF due to unfair competition.

The case stems from YPF offering shale oil and gas reservoirs which Repsol found before they were expropriated. The offer includes Vaca Muerta, one of the biggest oilfields that would lead a third competitor to a privilege position in the oil and gas sector.

The company owned by Antonio Brufau reminds that the Unfair Competition Act forbids competitors to take benefit from an advantage gained through legal infraction - that means the expropriation.

In April Argentina expropriated 51% of YPF, which belonged entirely to Repsol (who owned at that moment 57.4% of the company).

In May YPF and the American miner ...

Portuguese oil-and-gas company Partex is negotiating with Spanish Repsol about gas exploration in Portugal's southern region of Algarve

Published on Sept. 20, 2012

 
Read Portuguese oil-and-gas company Partex is negotiating with Spanish Repsol about gas exploration in Portugal's southern region of Algarve

After the departure of German RWE, Repsol is the only holder of the blocks 13 and 14. The first change in the shareholder structure of the concessions of blocks 13 and 14, located at about 50 kilometers from the eastern coast of the Algarve, occurred early this year, when the Repsol acquired a participation of 30% of the German multinational company RWE Energy.
The Director of oil-and-gas Spanish company , Mr.Max Torres, said to Economic Daily that the was looking for new partners to share the risks and investments.
Actually, the Partex is negotiating with Repsol the entry in exploration and exploitation of natural gas in Algarve , some source close to the process ensures that negotiations are in the advanced phase.
The project in Algarve - exploration and production of natural gas - represents financial effort of about 83 million dollars (66 million euros).

Brazil operates only 4 % of its oil potential

Published on Sept. 18, 2012

 
Read Brazil operates only 4 % of its oil potential

Brazil has been working on its oil fields for more than 60 years. However only 7 % of its 7.5 million km2 have been explored and only 4 % are currently operated.

It is in this small area in Santos Basin where the 149,000 km2 pre-salt layers are located. Only 45,600 km2 are operated under concessions – however, about 15,000 million barrels are expected to be contained in the area, given the past discoveries. This number could even reach 55,000 million barrels, which would set Brazil on a new oil world level.

Since the Brazilian hydrocarbon sector was liberalized in 1997 and Petrobras lost its monopoly, the oil sector has enormously developed, going from 3 ...

Petrobras operates now in Chinook field

Published on Sept. 15, 2012

 
Read Petrobras operates now in Chinook field

Petrobras has started the production in its Chinook field on Thursday, the operator announced. The field, located in the U.S. Gulf of Mexico, overcame the incidents occurred in June, when 5,400 liters oil were spilled during the development tests.

The 4th well will drill at 8,000 meters deep in Lower Tertiary reservoirs. BW Pioneer FPSO, located at 250 km offshore Louisiana in 2,500 meters of water, is taking part in the extraction. BW Pioneer has capacity for 80,000 barrels crude and 500,000 cubic meters gas.

According to the press release, this is the first time a floating production, storage and offloading (FPSO) unit is being used in the Mexico Gulf.

The Chinook field is 66.67% owned and operated by Petrobras America Inc. and 33.33% owned by Total E&P USA, Inc.

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