Energy & Oil

Energy & Oil
Monday, April 5th 2010 - 23:57 UTC

Oil prices reach an 18-month high following on US encouraging data

The price was below 70 USD a barrel in early February

Oil prices have reached an 18-month high as analysts predict the recovery of the US economy and a rising demand for fuel. Crude oil for May delivery hit a high of 85.89 USD a barrel at one point in New York trading - the dearest since the peak of the financial crisis in October 2008.

Friday, April 2nd 2010 - 00:04 UTC

Desire Petroleum plc - Drilling Update

Desire Petroleum Plc (AIM:DES) the oil and gas exploration company, wholly focused on the North Falkland Basin, wishes to provide a further drilling update on the Liz 14/19-1 Exploration well, where wireline operations are continuing.

Thursday, April 1st 2010 - 05:53 UTC

Falkland Islands: Investors lose fortunes as oil shares plummet

Adam Cockwell: “I think it’s far too early in the campaign to be elated or upset”

LOCAL investors – reputedly one in ten of the population – saw the value of their oil shares plummet this week as Desire Petroleum confirmed media speculation that the first oil found by the Ocean Guardian rig was of poor quality.

Wednesday, March 31st 2010 - 18:24 UTC

High-quality oil in once guerrilla infested Colombian jungle

”Candelilla is a very big discovery”, 15.600 bpd

Petrominerales Ltd., mostly owned by Canadian companies said Monday that an oil well drilled in Colombia has produced a prolific 15,600 barrels of high-quality crude per day, following similarly strong results from two other wells on its Candelilla discovery.

Tuesday, March 30th 2010 - 04:48 UTC

Chavez announces the discovery of a “super well” of natural gas

The Venezuelan leader meets Ecuadorian president Rafael Correa

Venezuelan President Hugo Chavez announced the discovery of a “super well” that shows an offshore field holds almost twice as much natural gas as originally estimated.

Monday, March 29th 2010 - 18:40 UTC

Falklands’ Desire shares slump following disappointing first well

A full announcement is expected later this week

Shares in UK-Falklands Desire Petroleum slumped Monday as the company officially confirmed a disappointing result from the first drilling in its exploration campaign in the North Falkland Basin.

Monday, March 29th 2010 - 18:30 UTC

Solar power project to refine Chilean copper

Chile is the world’s largest producer and exporter of copper

Codelco, Chile’s nationally-owned copper company and one of the world’s largest, announced last week a plan to outfit some of their mines with solar power over the next few years, a move expected to save millions of dollars in energy costs.

Sunday, March 28th 2010 - 04:56 UTC

Oil in Falklands but not in commercial volumes, reports The Times

The exploration rig Ocean Guardian operating to the north of the Falklands

The first well drilled off the Falkland Islands in 12 years has struck oil — but not enough for a commercial well, according to a report from the Sunday edition of The Times.

Saturday, March 27th 2010 - 06:40 UTC

Argentina and Bolivia sign expansion of natural gas agreement

Cristina Kirchner and Bolivia president Evo Morales

Argentine President Cristina Fernández de Kirchner met Friday with her Bolivian counterpart Evo Morales and signed a deal that expands until 2026 the current gas-sharing bilateral agreement, which is expected to supply the Argentine Northeast.

Saturday, March 27th 2010 - 06:19 UTC

In support of our planet, Earth Hour’s global display of climate action

Saturday March 27 at 8.30pm local time, more than 4000 cities and towns across 125 countries and regions will switch off their lights for Earth Hour in an historic moment of global unity.

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