Energy & Oil

Energy & Oil
Friday, January 29th 2010 - 01:54 UTC

Canada confident of its oil potential development in spite of Venezuela

According to the US Geological Survey Venezuela holds 500 billion barrels, and Canada 311 billion but “money recoverable”

An assessment that Venezuela sits on one of the largest oil fields on record does not threaten the potential of Canadian reserve development, analysts said.

Monday, January 25th 2010 - 14:58 UTC

Venezuela could hold world’s largest oil reserves, says US Geological Survey

Orinoco belt is apparently the hydrocarbons promised land

A new US assessment of Venezuela's oil reserves could give the country double the supplies of Saudi Arabia. Scientists working for the US Geological Survey say Venezuela's Orinoco belt region holds twice as much petroleum as previously thought.
The geologists estimate the area could yield more than 500 billion barrels of crude oil.

Friday, January 22nd 2010 - 14:49 UTC

Repsol forced to reassess its Bolivian hydrocarbons reserves

New Bolivian constitution tightens accounting control over hydrocarbon assets

Oil company Repsol YPF is studying the impact on its hydrocarbon reserves accounting as a consequence of a change in Bolivian law, but has not made a decision on whether to lower its reserves, a spokesman for Spanish firm confirmed this week in Madrid.

Friday, January 22nd 2010 - 04:32 UTC

First Seaweed-Based Biofuel Plant Goes Ahead In Chile

The project is a joint undertaking between a US company, Chile’s ENAP and Universidad de Los Lagos

The ugly swarms of algae that plague Chile's beaches may be an alternative energy blessing in disguise. Chilean economic development corporation (CORFO) announced an investment of 7 million US dollars towards a seaweed-based bio-ethanol project spearheaded by Chile and U.S. scientists.

Thursday, January 21st 2010 - 12:12 UTC

BHP Billiton confirms oil exploration commitment in Falklands’ waters

The corporation is Australia largest oil and gas producer and is increasing investments

BHP Billiton Ltd., Australia’s biggest oil and gas producer, boosted its forecast for petroleum exploration spending by 33% because of an increase in drilling in the US Gulf of Mexico and offshore Australia.

Thursday, January 21st 2010 - 06:46 UTC

Brazil inaugurates first commercial ethanol-fuelled power plant

The Petrobras plant works with a GE flex-fuel turbine

Brazil inaugurated this week the world’s first ethanol-fuelled power plant in the state of Minas Gerais. The flex-fuel turbine, which was converted from running solely on natural gas, began operating on December 31 and is currently in its optimization and testing phase.

Thursday, January 21st 2010 - 06:44 UTC

Seismologists’ call to prepare for a “great earthquake” in Western Sumatra

Professor John McCloskey of the University of Ulster

The earthquake which rocked Padang, western Sumatra in September last year killing more than 1000 people was not the 'great earthquake' which earth scientists are waiting for. In fact, it may have made the next massive earthquake more likely.

Thursday, January 21st 2010 - 02:31 UTC

Oil executives check preparations for rig arrival in Falklands

Honest Rays along FIPASS in Stanley

DRILLING chemicals, pipe casing and logging equipment are just part of the mass of physical supplies being offloaded in Stanley in preparation for the arrival of the oil rig in Falkland Islands waters next month.

Monday, January 18th 2010 - 13:31 UTC

US and NZ share the biggest wind farm in Antarctica

The plant can provide enough energy to light 500 homes

The biggest wind farm in ice covered Antarctica and which can generate enough electricity to power 500 homes, was formally switched on this weekend.

Friday, January 15th 2010 - 06:34 UTC

2009 was the hottest year on record south of the Equator, says Science

El Niño, a cyclic warming event in the tropical Pacific has much to do with the extreme temperatures registered

The United States and Europe may be experiencing one of the coldest winters in decades, but things continue to heat up in the Southern Hemisphere. Science magazine has obtained exclusive data from NASA that indicates that 2009 was the hottest year on record south of the Equator. The find adds to multiple lines of evidence showing that the 2000s were the warmest decade in the modern instrumental record.

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