Energy & OilEnergy & Oil
Brazilian president Lula da Silva said that relations with neighbouring Uruguay are at “their best level ever”, following a meeting Tuesday with visiting president Tabare Vazquez.
Rockhopper Exploration, the North Falkland Basin explorer announced Monday that Environmental Impact Statement (EIS) documents prepared by RPS Energy in relation to planned future drilling activity have been submitted to the Falkland Islands Government. The EIS’s cover licences PL023, PL024, PL032 and PL033.
Brazil's energy managed corporation Petrobras will extract its first crude oil from the potentially huge offshore Tupi field find, of late 2007, below the salt layer of the Santos basin next May, announced President Lula da Silva.
As was anticipated Desire Petroleum has submitted an environmental impact assessment (EIA) to the Falkland Islands government it was reported in London.
United States ExxonMobil has notified Brazilian regulatory agency Agencia Nacional de Petroleo, Gas Natural e Biocombustiveis (ANP) that it has found indications of hydrocarbons in block BM-S-22 off the Brazilian coast. The discovery was made in well 1-ESSO-3SPS.
Brazil’s government managed oil and gas corporation Petrobras announced its bio-fuels business plan for 2009/2013 which involves 2.4 billion US dollars to increase the production of bio-diesel and ethanol, most of which to be sourced in Brazil.
GeoPark Holdings has announced the successful drilling and testing of a new gas well - Yagan 1 - on the Fell Block in the extreme south of Chile at an initial production test rate exceeding 10 million cubic feet per day (mmcfpd) of gas.
Venezuela's government owned oil company PDVSA plans to slash costs by 40% as it struggles with low crude prices amid the global financial crisis, according to the president of the corporation.
Mexico's government owned oil and gas company Pemex reported a fourth-quarter net loss of 115 billion pesos (8.3 billion US dollars) on Friday, 254% more than in the year-ago period on declining crude exports, low oil prices and currency losses.
The chairman of United Kingdom's Financial Services Authority has said its failure to spot the banking crisis in advance was partly due to the style of regulation. A light touch approach at the City watchdog had been seen as politically preferred, Lord Turner said.