Repsol YPF chairman Antoni Brufau on announcing Tuesday the discovery in Libya of its largest ever oil field and lower profits in 2006, admitted that the company was looking for another shareholder for its Argentine branch YPF.
Canadian company Methanex plant in Chile's southern region of Magallanes has seen natural gas supply fall 10% following an indefinite strike from oil and gas workers union in neighboring Argentina. Methanex is the world's leading producer or methanol.
Gazprom and Brazilian oil company Petrobras have signed last week an agreement on hydrocarbon cooperation, the Russian energy giant revealed in a news release Monday.
Venezuela's Hugo Chavez and Argentina's Nestor Kirchner inaugurated Wednesday the first well in the heavy-crude Orinoco strip to be operated by Argentine companies.
The Spanish oil consortium Respsol-YPF in planning to undertake seismic surveying in the Malvinas basin in 2008, and could invite Argentina's new government owned oil company Enarsa to participate in the operation
Chile's oil corporation ENAP began drilling for natural gas last February 15 in continental Magallanes Region in an area identified as Dorado-Riquelme to the north east of Punta Arenas.
Venezuela will reinforce security measures after a branch of al Qaeda called for attacks on suppliers of oil to the United States, the defence minister said on yesterday.
Brazil will pay about 11% more for natural gas from Bolivia under a deal presidents Lula da Silva and Evo Morales signed Thursday in Brazil and that could resolve a year of tense relations between the South American nations.
Brazilian state oil company Petrobras said yesterday fourth-quarter profit fell 36 percent, hit by higher production costs that its chief executive said were worrisome.
The cost of producing oil and gas has risen about 53 percent in the past two years, and the trend is expected to continue this year, according to a report released yesterday.