Industry Developments

Norwegian offshore rig provider Seadrill has provided further details on plans originally unveiled in 2011 to launch an initial public offering of shares in its Brazilian unit Seabras... 2012-01-27

BMI View: Reports that Petroperú is considering upstream investment in Ecuador is in line with the company's growing ambitions. The firm, which last produced crude in the 1990s, is... 2012-01-27

The US Energy Information Administration (EIA) has significantly slashed its resource estimate for recoverable shale gas in the US by around 40%.

BMI View: Tesoro has offered to sell its ailing 94,000b/d Hawaii refinery 'no sooner' than H212, but is unlikely to find a buyer due to difficult market conditions and the location... 2012-01-24

Apache is looking to expand its US tight oil portfolio with a US$2.85bn bid for Cordillera Energy. The acquisition will add 18,000 barrels of oil equivalent (boe) per day to the company's... 2012-01-23

Latin America is set to be the fastest-growing region in terms of oil production growth over the next decade, while the Southern Cone region is set to emerge as an important LNG consuming... 2012-01-20

Latin America is set to be the fastest-growing region in terms of oil production growth over the next decade, while the Southern Cone region is set to emerge as an important LNG consuming... 2012-01-20

BMI View: The shutdown of the Hovensa refinery in the US is not simply part of a pronounced European and US Northeast trend for the closure of plants. Indeed, although the refinery... 2012-01-19

Argentina's Enarsa is set to expand its Orinoco portfolio after agreeing to undertake a US$2.2bn joint venture with PdVSA. The lion's share of the funding is likely to come from Argentina's... 2012-01-19

With his hand forced by Congressional Republicans, US President Barack Obama called the their bluff, announcing on January 18 2012 that, on the recommendation of the Secretary of State,... 2012-01-19