Energy is key to economic development and political stability, US Secretary of State Hillary Clinton said on Thursday, citing example of developing countries like India and China where energy needs are growing rapidly along with their economies.
Brazil natural gas output could nearly double by 2020, reaching up to 120 million cubic-meters a day, as Latin America's largest economy increases the number of offshore platforms to take advantage of huge deep-sea oil reserves, the general director of the National Petroleum Authority, ANP, said this week.
Argentina's state-controlled energy company YPF sold medium-term local currency debt equivalent to a total of 423.2 million dollars on Wednesday, a stock market filing showed.
Paraguay will begin exploring for hydrocarbons in the Chaco region, heartland of South America next 8 December, said oil consultant Mario Garnero after meeting on Tuesday with President Federico Franco.
Rockhopper Exploration which struck oil at its North Falkland basin Sea Lion exploratory well in May 2010 has received formal agreement from the Falkland Islands Government to the farm-out agreement reached with Premier Oil.
As the final drill in the Falkland Islands oil exploration round nears completion Director of Mineral Resources Stephen Luxton said it was a safe assumption to plan for three rigs rather than two in the next two to three years when extraction would get underway.
Noble Energy Inc. (NBL) executives said on Thursday that oil production in the Falkland Islands could begin in about six years if an exploration well proves to be successful.
A socio-economic impact study on the effects of an oil development project on the Falkland Islands did not reveal any, “major new concerns which had previously escaped attention Director of Mineral Resources Stephen Luxton told Penguin News this week.
The Uruguayan government has signed offshore exploration and production deals with British oil firms BG Group, BP plc, Ireland’s Tullow Oil and France's Total. The companies awarded 30-year concession contracts in April for the eight oil blocks - three each for BG and BP and one each for Tullow and Total - have committed to investing a total of roughly 1.56 billion dollars.
Canada’s Methanex Corporation announced on Thursday that because of severe restrictions in the provision of natural gas to its plant in the extreme south of Chile, Punta Arenas, Magallanes Region, the company is forced to another re-structuring which will leave 48 people redundant.