Energy & Oil

Energy & Oil
Wednesday, March 11th 2009 - 23:39 UTC

Brazil/Uruguay summit agrees on free trade and energy integration

Thumbs up for relations between Lula and Vazquez

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.

Tuesday, March 10th 2009 - 11:33 UTC

Oil company closer to begin drilling in North Falklands basin

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.

Saturday, March 7th 2009 - 09:52 UTC

Brazil begins commercial extraction of oil at 6.000 metres

We're going to extract the first barrels of oil at a depth of 6,000 meters. That is no small feat” said President Lula da Silva

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.

Thursday, March 5th 2009 - 17:23 UTC

Falklands’ oil company submits green impact report

As was anticipated Desire Petroleum has submitted an environmental impact assessment (EIA) to the Falkland Islands government it was reported in London.

Thursday, March 5th 2009 - 17:22 UTC

Exxon reports oil discovery off the Brazilian coast

Seadrill drillship West Polaris

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.

Thursday, March 5th 2009 - 16:54 UTC

Petrobras unveils ambitious bio-fuels expansion program

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.

Thursday, March 5th 2009 - 16:38 UTC

Successful drilling of new gas well in Magallanes region

GeoPark operates and has a 100% working interest in the Fell Block.

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.

Tuesday, March 3rd 2009 - 23:00 UTC

Venezuela to slash oil industry suppliers costs by 40%

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.

Sunday, March 1st 2009 - 23:00 UTC

Mexico's oil company Pemex reports massive loss in 2008

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.

Thursday, February 26th 2009 - 23:00 UTC

UK banks and regulators point fingers to political sector

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.

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