MADRID | Repsol Sinopec Brasil reported it estimates that Block BM-C-33, in the deepwater Campos Basin, contains resources of more than 700 million barrels of light oil and 3 trillion cubic feet of gas. Partner companies are now working on an appraisal plan for the area. Repsol Sinopec Brasil is the operator of the discovering consortium, [...]
Spain’s Sacyr Vallehermoso and US Fluor set joint venture
MADRID | The Spanish corporation Sacyr Vallehermoso announced it has signed an agreement with the US group Fluor to develop and exploit oil installations for other companies, among them Repsol. This will help Sacyr’s new branch Sacyr Industrial to get momentum, as it focuses its strategy in building industrial facilities for third parties in Spain and internationally. The [...]
Long read | JP Morgan’s Colin Fenton (II): “EU secondary oil refineries to revive”
WASHINGTON | Second part of our conversation with Colin Fenton, global head of Commodities Research and Strategy at J.P. Morgan. What will be the effect of the closing of Iranian exports to Europe. Will it take a lot of time or effort to adapt European oil refineries to other types of oil? It always take some [...]
Long read | JP Morgan’s Colin Fenton: “Oil price $130 per barrel by 2014″
WASHINGTON | Colin Fenton is the global head of Commodities Research and Strategy at J.P. Morgan. Fenton believes that there is margin for higher energy prices, with limited economic damage. Brent and WTI are behaving virtually like “two different commodities”, as one trader put it last week. Asia, tied to Brent oil, has relatively strong oil demand [...]
