Energy & Oil
Energy & Oil feedBlackout Hits Most Of Chile
Transformer failure blamed as much of the country goes dark.
A blackout blamed on a fault in Chile's Central Interconnected System hit nearly all of Chile around 8:50 p.m. local time Sunday night.
Chinese oil firm buying 50% stake in Argentine group
China National Offshore Oil Corporation (CNOOC) is paying $3.1bn (£2bn) for a 50% stake in Argentine oil and gas group Bridas Corporation. Cnooc Ltd.,
China oil demand in January jumps “astonishing 28%” says IEA
China's demand for oil jumped by an “astonishing” 28% in January compared with the same month a year earlier, the International Energy Agency (IEA) says.
BP gets a hold of Brazil’s oil potential buying out US Devon Energy
British Petroleum has agreed to buy Brazilian, Azeri and Gulf of Mexico assets from Devon Energy for 7 billion US dollars, as the US producer refocuses on onshore US fields.
Lloyd’s Register, Maersk on program to test bio-diesel for marine engines
Lloyd's Register is to play a major role in a two year program to test the suitability of bio-diesel for use in powering marine engines. The feasibility study will take place on board the Maersk Line container ship, Maersk Kalmar.
More oil in Brazil’s Santos Basin; Petrobras investment plan: 45 billion USD
Brazilian government managed corporation Petrobras, Repsol-YPF and BG Group found more evidence of oil in the same offshore Brazilian sub-salt block where the companies’ Guara field holds as much as 2 billion barrels of crude.
Argentine government blames Shell and Petrobras for gasoline shortage
Argentina's government accused energy companies Royal Dutch Shell and Petrobras on Wednesday of deliberately causing gasoline shortages in order to force rival YPF to raise its prices.
China looks into developing vast resources of “combustible ice”
China's western Qinghai Province, containing major deposits of the country's “combustible ice,” will see increased explorations for this emerging clean energy, Provincial Governor Luo Huining said on Saturday quoted by Xinhua news agency.
Argentina’s YPF imports fuel to meet demand for the first time in 30 years
Argentine-Spanish oil company YPF said on Tuesday that it plans to import 50 million litres of gasoline as demand outstrips supply. Argentina, an oil-producing country where fuel is subject to government price controls, has not imported gasoline in 30 years.
Falklands' tension, no risk of military conflict says Jane’s analyst
Exploratory oil drilling, which began last month in waters north of the Falkland Islands (whose sovereignty remains contested by the United Kingdom and Argentina) has upped the tension level in the region, the security information provider Jane's has noted.
Venezuelans reluctant to save power and generation approaching critical situation
The water level of Venezuela’s El Gurí dam which provides 75% of the country’s power is rapidly approaching the “critical zone” having dropped to 254 metres, just 14.45 metres from “collapse point” warned President Hugo Chavez.
Falklands fourth Oil Company announces plans to drill south of the Islands
The fourth British company licensed to explore in Falkland Islands waters, Borders and Southern Ltd announced preparations were “well underway” for a drilling campaign to the south of the Islands.
“Falklands has a right to oil exploration”, letter in The Times
Licences to drill for oil in Falkland Islands territorial waters were issued by the Falklands’ government, not by London, and Islanders are entitled to do this by the terms of the Joint Declaration over Oil issued by the Argentine and British governments in 1995, said Falklands Government Representative in London Sukey Cameron.
Petrobras announces two discoveries with 65 million barrels potential
Brazilian government managed energy firm Petrobras announced this week it had made two separate discoveries of oil in the Campos Basin near Brazil's coast with recoverable reserves of 40 million and 25 million barrels.
Falkland Islands: Desire chief says it’s boom or bust as drilling begins
FOUR days into a drilling operation that has captured the attention of the world’s media, Desire Petroleum’s Operations Director Bob Lyons conceded: “This is it: we’re a one trick pony. It’ll either be successful or it won’t. It is very simple.”
