Energy & Oil

• Friday, June 10th 2011 - 15:17 UTC

  Uruguay completes 2D offshore geophysical surveying for September’s oil round

  

  In anticipation of Uruguay Oil Round II, scheduled for next September, Singapore based Reflect Geophysical Pte Ltd announced the completion of the survey for the acquisition of geophysical data in the Uruguayan offshore, through the seismic vessel R/V Reflect Aries.

• Thursday, June 9th 2011 - 08:36 UTC

  Oil company confirms Falklands drilling and farm-out accord in coming months

  

  Falkland Oil & Gas confirmed on Wednesday drilling operations will begin in the first quarter of 2012 and revealed it is in early talks with firms interested in taking part in its exploration program south of the Falkland Islands. The company however anticipated it did not expect to conclude any farm-out agreement until later this year.

• Thursday, June 9th 2011 - 05:42 UTC

  OPEC fails to reach agreement on production targets for the first time in 20 years

  

  Oil rose for a third day in New York after OPEC failed to reach an agreement on production targets for the first time in at least 20 years and U.S. crude inventories fell more than analysts forecast.

• Wednesday, June 8th 2011 - 23:32 UTC

  Brazil unveils plan and incentives to boost ethanol production

  

  Brazil's government unveiled new financing and other incentives for sugar cane ethanol production, vowing to work closely with the private sector to boost production in an industry that has struggled recently despite its immense promise.

• Wednesday, June 8th 2011 - 23:16 UTC

  Brazil, India, Russia increased global proven oil reserves by 0.5% in 2010 says BP

  

  Global proven oil reserves rose by 0.5% in 2010, boosted by increases in Brazil, India and Russia, according to British Petroleum. Deposits advanced to 1.3832 trillion barrels at the end of last year from a revised 1.3766 trillion in 2009, BP said in its annual Statistical Review of World Energy.

• Wednesday, June 8th 2011 - 23:00 UTC

  Energy-short Argentina stocking LNG to face falling winter temperatures

  

  Argentina will receive this week two LNG cargoes from Spain's Gas Natural as it steps up purchases to meet rising demand in the face of falling temperatures, according to Argentine state owned energy company Enarsa sources.

• Wednesday, June 8th 2011 - 16:41 UTC

  Argentina gas earmarked for domestic consumption, not export, says minister

  

  Argentina won't become a natural gas exporter under the current government even if potentially massive deposits of unconventional gas turn out to more than enough to supply the domestic market, announced Planning minister Julio De Vido.

• Monday, June 6th 2011 - 06:34 UTC

  Major Indian oil company interested in shale gas assets in Argentina

  

  State run India OIL Ltd has drawn up a war chest of over 1 billion US dollars, for acquiring a producing oilfield abroad and the company is trawling major oil-producing geographies, among which shale gas assets in Argentina, chairman N M Borah said last week.

• Monday, June 6th 2011 - 05:57 UTC

  YPF ready to take control of Argentina’s main gas distributor

  

  Argentina’s oil corporation YPF signed a purchase option for 54.67% of the British Gas controlled GASA group that is the country’s largest distributor of gas. The purchase option expires August 31.

• Thursday, June 2nd 2011 - 09:44 UTC

  Mexico’s oil company sues US firms for trading stolen gas condensates

  

  Petroleos Mexicanos; Pemex, sued 11 US firms over claims they helped Mexican drug cartels smuggle and re-sell more than 300 million USD in natural gas liquids stolen from Mexico’s northern oilfields into the U.S.