Energy & Oil

Energy & Oil
Friday, April 16th 2010 - 10:04 UTC

Falklands: Rockhopper Exploration spuds Sea Lion

Ocean Guardian rig

Rockhopper Exploration (AIM: RKH) has spudded its 100% owned Sea Lion 14/10-B exploration well in the Licence PL032 in the North Falkland Basin. Once drilling is complete, Sea Lion’s results will be eagerly anticipated among investors following the prospective Falkland oil and gas play.

Thursday, April 15th 2010 - 17:14 UTC

Petrobras completes global presence by acquiring stake in Australian block

The Brazilian corporation is a world leader in offshore deep water oil exploration

Brazilian government managed energy giant Petrobras announced it acquired a 50% stake in an exploration block in Australia with significant natural gas potential. Petrobras acquired the stake from MEO Australia for 39 million USD.

Thursday, April 15th 2010 - 17:11 UTC

Venezuela plans to invest 120 billion USD in developing Orinoco heavy crude

Venezuelan Energy and Oil Minister Rafael Ramirez made the announcement

Venezuelan Energy and Oil Minister Rafael Ramirez said some 120 billion USD will be invested over the next seven years in the Orinoco Belt, which the U.S. Geological Survey says is the largest petroleum accumulation it has ever evaluated.

Thursday, April 15th 2010 - 05:53 UTC

Argentina to resume nuclear program in cooperation with Russia

President Medvedev and Cristina Kirchner sign agreements at Casa Rosada

Russian President Dimitri Medvedev met with President Cristina Fernández de Kirchner to commemorate 125 years of bilateral relations between Argentina and Russia and to sign several cooperation agreements in different fields including helping Argentina to develop its nuclear program.

Thursday, April 15th 2010 - 05:50 UTC

China’s Sinopec expected to invest in Brazilian offshore oil blocks

Chinese president Hu Jintao arrived Wednesday in Brazil

China's Sinopec will buy stakes in two Brazilian offshore blocks from state-run Petrobras, local media reported Wednesday, as part of a cooperation agreement to be signed during a visit by China's president to Brazil.

Saturday, April 10th 2010 - 05:09 UTC

Rio do Janeiro will host first top level meeting on Brazil’s pre-salt oil fields

Petrobras president José Sergio Gabrielli

The first major top-level industry wide meeting of all leading players in the exploration of the Brazilian pre-salt oil fields will be taking place next in June in Rio de Janeiro.

Friday, April 9th 2010 - 02:57 UTC

Argentina to drill two wells next to Falklands’ waters in last quarter

Stena DrillMax considered a state of the art vessel-rig currently is operating in Brazilian waters

Several oil companies operating in Argentina have teamed up to begin hydrocarbons explorations close to Falklands’ waters. The companies have programmed to spend 140 million US dollars in two exploratory wells for which they have contracted a special drilling vessel, according to reports in the Buenos Aires press.

Thursday, April 8th 2010 - 04:25 UTC

Mujica consolidates close trade and energy links with Venezuela

The Uruguayan president and the Venezuelan leader at the Miraflores palace

Venezuelan President Hugo Chavez offered Wednesday to help Uruguay expand a refinery and supply it with crude oil. Chavez and visiting Uruguayan President Jose Mujica signed several accords pledging to deepen trade and energy ties between the two nations.

Wednesday, April 7th 2010 - 21:02 UTC

Bolivia and Brazil discuss energy and exploitation of strategic minerals

Marco Aurelio Garcia, President Lula da Silva’s main foreign affairs advisor

Bolivia and Brazil are considering a vast joint investment program to industrialize natural gas and for the exploitation of strategic minerals in the salt plains of the land-locked Andean country.

Wednesday, April 7th 2010 - 01:09 UTC

Falklands’ Desire describes Liz well as “promising”; confirms drilling campaign

Ocean Guardian oil rig will now drill for Rockhopper

Following the announcement of a gas discovery in the North Falklands Basin, Desire's Chairman Stephen Phipps describes the ‘The Liz’ well as, “complex and highly encouraging” and sufficiently promising to continue with the drilling campaign in Falklands’ waters.

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