BHP Billiton which this week announced it had acquired an interest in 14 exploration and production licenses offshore the Falkland Islands is a leading global leader in the diversified resources industry with an annual turnover of 47.5 billion US dollars in fiscal 2007.
Speaking to local shareholders in Desire Petroleum plc at a meeting in Stanley on Monday evening, Chairman Dr Colin Phipps said that he was more optimistic than he had been for a long time about the company's prospects of finding oil in commercial quantities in the North Falkland Basin.
Falkland Oil and Gas Limited (FOGL) is pleased to announce that it has entered into a farm-out agreement with a subsidiary of BHP Billiton, the world's largest diversified resources company, over FOGL's 2002 and 2004 licences to the South and East of the Falkland Islands.
Next October 10 begins the timetable for oil corporations interested in the bidding process for hydrocarbons exploration and production in the Magallanes Region in the extreme south of Chile.
Borders & Southern Petroleum PLC, the Falkland Islands oil explorer, said its first half to end-June pretax loss narrowed to £117,158 from £182,010 saying the next year would be exciting as it evaluated the area covered by its production licences.
Mining leaders in Chile indicated to local press this week that their industry is bracing for energy shortages in the coming year
The emergence of new players in the global market and shifts in the policies of gas and oil producers means that traditional conglomerates from industrialized nations are facing increasing competition in the race to access the world's reserves, revealed the United Nations agency on trade and development issues.
Exxon Mobil Corporation seems intent in leaving South America following recent compensation disputes with the Venezuelan government and the decision to sell its Argentine and Uruguayan units, according to some observers in Buenos Aires
Brazil's President Luiz Inacio Lula da Silva will promote the country's biofuel initiatives during the United Nation's annual general assembly meeting next week, as part of a broader effort to fight climate change.
The price of London Brent oil hit another all-time high Friday on US storm concerns at the end of a record-breaking week which saw New York crude soar beyond 84 dollars per barrel.