Tag Archives: oil

Mexico Announces New Oil Discovery

 

MEXICO CITY – The president of Mexico, Felipe Calderon, announced on Friday at 9:00 pm, a new oil discovery in the deepwater in the Gulf of Mexico.

The new finding would have occurred in the well Supremus-1, with a water depth of 2,900 meters, located in the Perdido fold belt, off the northern state of Tamaulipas, in the same area where President Calderon recently announced a first discovery of light oil in the well Trion-1.

Mexican state oil company, Pemex, expects to certify in Trion-1-with a water depth of 2,500 meters and a depth from the seabed 2,000 meters proved, probable and possible for up to 400 million barrels.

Pemex began this summer drilling in the Perdido Fold Belt, on the border with the United States, and Trion Supremus-1-1. The oil company plans to start drilling soon Maximino-1, which would have a water depth of 2.922 meters.

Pemex has drilled 23 wells in deep water, but had discovered not only oil and gas, which aims to raise production.

Mexico is the seventh largest oil producer, whose exports feed about a third of government revenues.

 

 

 

 

Shell Takes Next Hurdle on the Way to Oil Drilling in Arctic

 

 

Anchorage/USA – The Dutch oil company, Shell, has taken another hurdle on the way to drilling off the northwest coast of Alaska.

As the U.S. Nature Protection Agency announced on Friday, the company has a one-year certificate is issued, and that Shell allows the use of generators on a drillship that produce fumes.

 

Tests revealed that the machines emit too much ammonia and nitrous oxide, which is why special permission had to be obtained. The company wants to search for oil in the Arctic Chukchi Sea. EPA anticipates that the total emission is below the legal limits.

 

 

Europe Closes Iranian Oil Spigot to an Uncertain Future for Oil

 

Europe has played down the impact it would have on oil supplies to the Old Continent on Iranian oil that comes into effect today, although the developments in the Persian Gulf will mark the future prices and supply of “black gold”.

The optimism is based on community partners that had occurred within six months to reduce their imports from the Asian country and find alternatives to the suspicion that has aroused the Iranian nuclear program between European and American .

In fact, the Spanish Minister of Foreign Affairs, José Manuel García-Margallo, confirmed this week that Spain no longer imports Persian crude.

The decision by Saudi Arabia to pump crude to record levels of around 10 million barrels per day has helped to alleviate the consequences of this “dry law”, along with global economic uncertainty. There is a 29% drop in oil prices this spring.

The tightening of sanctions against Iran led to an oil price run-up to March, when placed in $130 a barrel.

Therefore, the oil market will continue to monitor, predictably, the escalation of tension between the governments of Iran and the United States, which, ultimately, could threaten oil transport channels.

The credit rating agency, Moody’s, warned in May that oil prices could rise if the diplomatic row that support Tehran and Washington comes to the military field. Iran decided to block the Strait of Hormuz, a strategy by leaving the country about 20% of oil consumed.

This measure is not an end to dismiss the Iranian authorities, who have threatened to cut the seaway if the country is attacked.

Moreover, the Corps Revolutionary Guards of Iran announced this week that the country is equipped with warships guarding the strait with new missiles with a range of 300 kilometers.