Energy & OilEnergy & Oil
Repsol YPF S.A. (BMAD:REP), Spain’s biggest oil company, is considering the sale of about 40% of its Brazil assets in an initial public offering as early as this year, company executives said Thursday on a conference call.
Authorities at the Falkland Islands Mount Pleasant military base (MPC) have confirmed their interest in developing a wind farm that could bring the Falkland Islands Government (FIG) considerable benefits.
Paraguay’s president Fernando Lugo said he is looking forward to the coming meeting next May 3 with his Brazilian counterpart Lula da Silva because he would be coming back with “good news” referred to the shared power from Itaipu, the world’s second largest hydroelectric dam belonging to both countries.
The United States Navy celebrated Earth Day April 22 by showcasing a flight test of the “Green Hornet,” an F/A-18 Super Hornet multi-role fighter jet powered by a 50/50 blend of conventional jet fuel and camelina aviation bio-fuel.
DESIRE Petroleum, the oil exploration company in which many Falkland Islanders are shareholders, has said it is hopeful of making a discovery, despite posting a £2.5 million pre-tax loss for the year ending December 31 2009.
An oil rig in the Gulf of Mexico that caught fire after an explosion on Tuesday night has now sunk, the US Coast Guard has said. A search is continuing for 11 missing workers after the blast at the Deepwater Horizon rig. The other workers on the rig, off Louisiana, were evacuated to the US.
Panamanian president Ricardo Martinelli announced Thursday there was oil in the Darien jungle and he planned to expand the mining industry in Panama while protecting the environment.
The Brazilian government accepted bids Tuesday to build what would be the world’s third-largest hydroelectric dam in the Amazon. Officials proceeded with the auction immediately after a judge overturned another magistrate’s injunction blocking the tender and revoking the environmental permit for the 11,000 MW Belo Monte complex.
The Inter-American Development Bank, IDB, announced Friday its intention to increase its financing for renewable energy and climate-related projects to 3 billion US dollars a year by 2012.
Exxon-Mobil has completed an extended-reach well offshore southern California, which it claims is the world’s longest extended-reach well drilled from an existing offshore fixed platform drilling rig.