Energy & Oil

Tuesday, May 24th 2011 - 18:46 UTC
US imposes sanctions on Venezuela’s PDVSA for engaging in trade with Iran

United States announced new sanctions on Venezuela's state oil company PDVSA and six other smaller oil and shipping companies for engaging in trade with Iran in violation of a US ban.
Tuesday, May 24th 2011 - 06:43 UTC
Chile’s ENAP successfully drills natural gas well in Tierra del Fuego

Chile’ oil and gas company ENAP announced Monday the discovery of natural gas at a recently drilled well in the Arenal block to the north-west of Espora Peninsula, Tierra del Fuego.
Tuesday, May 24th 2011 - 06:39 UTC
Korean conglomerate LGI secures oil block in southern Chile

GeoPark oil and gas company with operations in Latin America announced in a joint release the definitive sale of oil and gas exploration and production blocks in the south of Chile to the Korean conglomerate LG International Corporation.
Monday, May 23rd 2011 - 06:04 UTC
Colombia’s oil company makes new discovery; plans to drill another ten wells in the block

Colombian state oil company Ecopetrol said it made a new discovery at a well in the south-eastern Caño Sur block, of which the company is the sole owner and operator.
The Mito-1 exploratory well yielded an average of 200 barrels per day of heavy oil in initial testing, Ecopetrol, which plans to drill another 10 wells at that block in the near future, said.
Friday, May 20th 2011 - 01:07 UTC
Falklands’ oil exploration companies expand early 2012 drilling program

Borders & Southern Petroleum has extended a contract for exploratory drilling in Falkland Islands waters to include at least another two wells, it was announced on Thursday by parties involved.
Tuesday, May 17th 2011 - 15:35 UTC
Brazilian banks and funds create company to build deep-water rigs for Petrobras

A group of Brazilian banks and funds have created a company called Sete Brasil that will build seven deep-water rigs for state-run oil company Petrobras offshore exploration campaign, Petrobras announced on Monday.
Tuesday, May 17th 2011 - 00:38 UTC
Overwhelming majority of Chileans reject hydroelectric project in Patagonia

Opposition to the HydroAysén dam and power line project grew throughout Chile this past week in the wake of massive demonstrations protesting the project’s approval on Monday May 9 in southern Chile.
Friday, May 13th 2011 - 13:55 UTC
Brazilian president still recovering from pneumonia cancels trip to Paraguay

Brazilian president Dilma Rousseff cancelled on medical advice Sunday’s trip to Asunción where she was scheduled to participate in the bicentennial celebrations of Paraguay’s independence.
Friday, May 13th 2011 - 05:15 UTC
Power outage knocks out Venezuelan refinery complex, one of the world’s largest

A power fault hit Venezuela's main refinery centre on Thursday, stopping the 310,000 barrel-per-day Cardon facility and partially halting the 645,000-bpd Amuay installation, a source at state oil company PDVSA said.
Thursday, May 12th 2011 - 06:32 UTC
BP ups its stake in Brazil’s oil industry and will participate in September’s round

British Petroleum is negotiating opportunities to buy stakes in oil fields in Brazil to accelerate production increases, the head of the company's Brazil division said on Wednesday.