Bolivia plans to invest 1.73 billion US dollars in the energy industry in 2011, focusing on gas to ensure adequate production to supply Argentina and Brazil, as well as the domestic market, the head of state-owned oil company YPFB, Carlos Villegas, said.
Spain's oil major Repsol YPF said on Thursday it had sold 3.3% of its Argentine unit YPF to investment funds for 500 million US dollars as part of an effort to redirect investments to less mature markets.
State Grid Corp. of China completed the purchase of seven electricity distribution businesses in Brazil for 989 million US dollars, announced the government this week.
Chile's government wants to make state-owned oil and gas company Empresa Nacional del Petroleo SA, (ENAP) economically viable through a management overhaul and streamlining of production.
Chile's state oil firm ENAP is seeking joint ventures with foreign companies to explore for crude and gas at five blocks in the country's extreme south region and has invited over twenty corporations to participate, announced the company.
The Falklands Rockhopper Exploration (AIM: RKH) exploration company ratified Monday its full commitment to oil exploration in the Islands waters on announcing an agreement to increase the number of drilling options, further 3D seismic surveying and discussions with the Falklands’ government for the declaration of a Discovery Area where it stuck oil earlier this year.
Desire Petroleum plc (DES:AIM) the oil and gas company wholly focussed on the North Falkland Basin, wishes to provide the following operations update.
Colombia’s Ecopetrol has reported oil shows from a second stratigraphic well on the Cano Sur block, where Shell holds a 50% stake. Ecopetrol said that it completed drilling of the Draco-1 well, located in the southeastern province of Meta.
Leading OPEC producer Saudi Arabia said it still favoured a 70-80 US dollars price range for oil, a restatement of a two-year-old policy that will be welcomed by consumer nations worried that rising oil prices may get out of control and hamper global economic recovery.
China Petrochemical Corp, parent of Sinopec Corp, agreed to buy all of US-based Occidental Petroleum Corp's oil and gas assets in Argentina for 2.45 billion US dollars, marking the energy giant's first foray into the upstream market in Argentina.