Brazilian oil giant Petrobras suspended an offshore survey Sunday in New Zealand after several environmental activists jumped into the water to block the passage of the ship conducting the study, reports the NZ press.
Oil prices have surged to a two-and-a-half-year high on concerns about supply and a weaker dollar. Brent crude topped $126, while US crude was at $112.79.
Royal Dutch Shell Plc, the world’s biggest distributor of bio-fuels, is shifting research to waste from sugar-cane farming after ending an algae project in Hawaii. Shell, Iogen Corp. and Codexis have been researching enzymes to produce cellulose ethanol from wheat stalks and sugar-cane bagasse, a sugar industry waste product.
Brazil has said a request to halt work on its massive hydro-electric dam in the Amazon rainforest is unjustified despite environmental concerns. Brazil's foreign ministry was responding to the request by the Inter-American Commission on Human Rights.
Venezuela will send Argentina 12 million barrels of diesel and fuel oil starting in May, an official from Venezuela's state oil company PDVSA said.
Falklands Desire Petroleum has said the past 12 months had proved an energetic period for the company with the information gathered leading to believe that the East Flank Play Fairway has a great deal of potential.
Oil climbed to the highest level in 30 months in New York on Monday on speculation that US economic growth may support demand and a protracted conflict in Libya will curtail supply.
Shares in Falkland Islands Rockhopper Exploration soared 16% on Monday, after it raised its lowest case estimate of crude reserves at its Sea Lion well.
Uruguay state-run oil and gas company ANCAP announced the discovery of source rock which might contain underground shale oil or natural gas deposits.
Paraguay’s government oil company Petropar is trying to find a foreign associate for oil exploration in the country’s vast Chaco region. Apparently companies from Russia and Bahrain have shown certain interest but Paraguayans admit the difficulties.