Energy & Oil

Energy & Oil
Wednesday, July 29th 2009 - 16:18 UTC

Falklands: EIAs to ExCo as drilling preparation continues

A box corer is deployed to retrieve benthic samples - benthic data is used to form an Environmental Baseline Survey, which in turn forms part of a company’s EIA (photo RPS Energy)

WORK towards a hydrocarbon drilling programme in the Falkland Islands continues to progress with the news that Environmental Impact Assessments (EIAs) are soon to be submitted by Desire Petroleum and Rockhopper Exploration to Executive Council for approval.

Wednesday, July 29th 2009 - 12:18 UTC

Dry wells controversy erupts in Brazil’s sub-salt basins drilling

Petrobras claims 87% success in sub-salt drilling but other sources mention 32% as dry or non commercially viable

Brazilian government managed oil corporation Petrobras said late Tuesday in an official release that it has drilled eleven wells in the promising Santos Basin region, with all of the wells testing positive for oil or natural gas.

Tuesday, July 28th 2009 - 07:12 UTC

Less Bolivian gas production as Brazilian demand falls

Brazilian demand for natural gas dropped from 30 million cubic metres to 24 million on average.

Brazil has reduced its demand for Bolivian natural gas to 24 million cubic meters per day, prompting a drop in production, according to reports in the La Paz press.

Monday, July 27th 2009 - 12:35 UTC

Brazil agrees to treble payment for Paraguay’s energy from Itaipú

Lula da Silva says Brazil strong, competitive, growing neighbours.

Brazil and Paraguay agreed over the weekend on an amicable solution to a decade long dispute over a hydro-electric dam on their shared border, with Brazil agreeing to triple the amount it pays its neighbour for energy.

Tuesday, July 21st 2009 - 10:06 UTC

Brazil accepts discussions on Itaipú surplus power distribution and prices

A crucial meeting is expected next Saturday between presidents Lugo and Lula da Silva.

Brazil will allow Paraguay to openly sell to Brazilian energy distributing companies its surplus share of the power generated by the Itaipú dam, the largest of its kind in the Americas.

Saturday, July 18th 2009 - 15:25 UTC

YPF begins next South Atlantic drilling round in Malvinas basin

Apparently  no oil in commercial volumes was found in the first wells drilled off Comodoro Rivadavia.

In the coming two weeks the Spanish-Argentine YPF energy corporation should have concluded its first round of seven exploratory wells in the South Atlantic, and towards the end of the year, or beginning of 2010, will start drilling in deeper waters in the Malvinas basin, according to company sources.

Friday, July 17th 2009 - 07:57 UTC

More government funds for Petrobras to develop oil reserves

Petrobras ambitious investment plan has had to appeal to additional funding following the plunge in oil prices from last year’s record

Brazil's government economic and social development bank BNDES will lend 25 billion Reais (12.8 billion US dollars) to Petrobras denominated in local Treasury notes, financial newspaper Valor Economico reported on Thursday.

Wednesday, July 15th 2009 - 07:55 UTC

Exxon-Mobil partners with biotech company to develop fuels from algae

Funds will be used to identify algae strains and growth development to produce abundant fuels at low cost.

The world’s largest publicly traded oil company Exxon Mobil said Tuesday it will make its first major investment in greenhouse gas reducing bio-fuels in a 600 million US dollars partnership with biotech company Synthetic Genomics Inc. to develop fuels from algae. The US corporation will be joining other oil giants (Shell and BP) that have been investing in bio-fuels.

Tuesday, July 14th 2009 - 11:01 UTC

Argentine corporations expect US dollar to reach 4.30/4.50 pesos in 12 months

Domestic issues have displaced the global crisis as the main source of concern for the Argentine economy.

A majority of Argentine entrepreneurs believes the local currency will suffer a significant depreciation against the US dollar in the next twelve months according to a poll among 137 leading corporations.

Friday, July 10th 2009 - 12:01 UTC

Oil giant Shell world’s largest company ahead of Wall-Mart and Exxon

For the first time in ten years the biggest firm is not from the US

Oil giant Royal Dutch Shell has replaced US retail group Wal-Mart as the world's largest company, the latest annual survey by Fortune magazine says.

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