Energy & OilEnergy & Oil
THE Falklands private sector is set to benefit financially from the next oil drilling round scheduled to begin early in February.
Under the headline of “Falkland Islands oil reserves 'to help British economy'” the Telegraph points out that four British oil companies are exploring to the north and south of the Islands and that the British financial sector is pouring “around £ 327 million into the offshore projects”.
Spain’s Repsol YPF confirmed in Buenos Aires local media reports that it has hit oil in Argentina's Neuquen province, but the potential from the well has still not been technically certified, a company spokesman said.
Services group Falkland Islands Holdings has reduced its stake in Falkland Oil and Gas Ltd, the oil and gas exploration company focused on licence areas to the South and East of the Falkland Islands.
Brazil has endured another major blackout and officials remain unclear what is causing the problem. Higher-scale Rio de Janeiro beach neighbourhood earlier in the week suffered an outage forcing employees to be sent home as restaurants and other businesses disposed of spoiled food.
Norwegian renewable energy giant Statkraft has switched on the world's first osmotic power plant prototype - using a technology which produces electricity from a process which mixes fresh water and salty sea water.
Falkland Oil & Gas Ltd. and Explorers Borders & Southern Petroleum are set to boost their coffers via share sales, with the cash earmarked for drilling work off the Falkland Islands, reports Upstreamonline. Oil rig “Ocean Guardian” left Scotland.
Spain's main oil company Repsol is not interested in selling more than a minority stake in its Argentine YPF unit, despite a report it had a new Chinese bid on the table for a majority holding.
A tug boat is to haul a North Sea oil and gas exploration rig from a Highlands deep water port on a 62-day journey to the Falkland Islands. The “Ocean Guardian” rig will be used by Desire Petroleum to explore reserves in the North Falkland Basin.
A Boeing 747, one of four engines powered by a 50% bio-kerosene mix, circled the Netherlands for an hour on Monday for what airline KLM called the world's first passenger flight using bio-fuel.