Rockhopper Exploration the only company so far to have announced the discovery of oil in Falklands’ waters is preparing to spud its second well in the North Falkland basin, the company announced in a release.
Latin America and the Caribbean is consolidating its recovery from the global economic slowdown, posting higher-than-expected growth in recent months. Although some countries in the region face serious pitfalls, according to a new United Nations report, Mercosur stands out as driving the revival.
Argentina’ natural gas reserves dropped to half their 2000 level when they totalled 378.862 million cubic metres, which means at the current consumption rate in seven and a half years the country will ran out of the vital fuel, according to a report released this week in Buenos Aires.
British Petroleum is to sell assets in Texas, Canada and Egypt, to part-fund the clean-up cost of the Gulf of Mexico oil spill. The oil giant said it had reached a 7 billion US dollars deal with US-based oil production firm Apache Corp.
Hydrocarbons minister Fernando Vincenti confirmed that Bolivia is interested in extending its natural gas pipeline network to add Paraguay and Uruguay to its list of clients now limited to Mercosur main associates, Brazil and Argentina.
Colombian state oil company Ecopetrol said it expects to produce 1.3 million barrels per day of “clean” oil equivalent by 2020 and that some 80 billion US dollars in investment will be needed to meet the target.
Oil fortunes ebbed and flowed this week as one exploration company abandoned its well, another looked forward to a second bumper find, and a new player joined the race for black gold in Falklands’ waters.
Brazil’s government controlled energy giant Petrobras began commercial crude production Thursday from a deepwater deposit in the pre-salt region, which the government anticipates will turn the country into a global leader in oil production.
The cold wave in Argentina has killed at least five people, forced the closure of highways and left most of industry short of gas given the soaring residential consumption.
A new US assessment of Venezuela's oil reserves could give the country double the supplies of Saudi Arabia. Scientists working for the US Geological Survey say Venezuela's Orinoco belt region holds twice as much as previously thought.