Venezuela's president Hugo Chavez announced that his country's oil reserves total 217 barrels, topping Saudi Arabia's and making them the largest in the world.
THE announcement today by the organisers of the general strike in the Magallanes Region of Chile that there will be some “flexibility” in the road blocks currently in place outside the city of Punta Arenas will no doubt cause some easing of the pressure on the Chilean President to find a solution.
Uruguay facing a severe drought and insufficient rainfall began this week to receive electricity from the Argentine power grid. Uruguay’s electricity is mainly hydroelectric and in the country’s main dams the water level has been falling dramatically.
President Evo Morales’ government has offered to reimburse 100% of the cost of successful exploratory drilling in Bolivia by private oil and natural gas companies, state-owned energy company YPFB announced this week.
Desire Petroleum plc (AIM:DES) the company wholly focussed on the North Falkland Basin, advises that the 25/5-1 well on the Dawn/Jacinta prospect has reached a total depth of 1,697 metres in pre-rift sediments.
Brazilian state-controlled energy giant Petrobras on Wednesday confirmed the commercial viability of two massive offshore oil and gas fields located deep beneath the ocean floor, announcing that one of them will now be known as “Lula.”
Desire Petroleum plc (AIM:DES) the oil and gas company wholly focussed on the North Falkland Basin, advises that the 25/5-1 well on the Dawn/Jacinta prospect has reached a depth of 1,313metres.
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.