Energy & OilEnergy & Oil
Rockhopper Exploration reported Friday that Wavefield Inseis had successfully collected the site survey data over the Ernest prospect in oil exploration license PL024, 100km off the Falkland Islands.
Repsol YPF SA, Spain's largest oil company, discovered natural gas at a field in southeast Bolivia that may be large enough to supply the equivalent of 1% of consumption in its home country.
The head of the United Nations nuclear watchdog agency this week praised Brazil's nuclear energy programme while visiting a uranium enrichment plant capable of producing fuel for nuclear reactors.
An energy bill that would require the first rise in vehicle fuel efficiency in more than 30 years was passed this week by the United States House of Representatives.
Brazil's government owned Petrobras confirmed this week the discovery of new natural gas reservoirs to the north of the Camarupim field, in the Espírito Santo Basin, off the southeastern coast of the country.
Desire Petroleum plc (AIM:DES) is pleased to announce that Wavefield InSeis ASA has completed the full site survey programme on Tranches C, I and L as planned. The entire survey was successfully acquired in 6 days with no weather downtime.
OPEC froze oil output levels on Wednesday, resisting calls for a hike to help cool sky-high prices that have flirted with 100 dollars and which threaten to dampen global economic growth.
Bolivian President Evo Morales has signed into law a contract for India's Jindal Steel and Power to develop the massive El Mutun iron ore deposit through a 2.1 billion US dollars investment, believed to be the largest foreign investment in Bolivia's history.
Canada's Methanex Corporation the world's largest producer of methanol announced it agreed to finance Chilean natural gas explorations by GeoPark holdings in exchange for a share of the gas it finds in the Magallanes basin.
Oil prices rebounded Monday as speculation grew that OPEC may decide to leave output unchanged at a meeting this week in Abu Dhabi. New York's light sweet crude for January delivery, closed at 89.31 dollars per barrel and in London Brent North Sea crude jumped 1.54 dollars to settle at 89.80 dollars.