Energy & Oil

• Friday, September 2nd 2011 - 08:23 UTC

  Brazil to reclaim sub-salt oil exploration blocks awarded in 2006 auction

  

  Brazil's government will reclaim promising oil exploration blocks won by companies in a bidding round five years ago but never formally leased to the winners, the country's energy minister Edison Lobao said.

• Wednesday, August 31st 2011 - 19:45 UTC

  Panama has an estimated 900 million barrels of oil in two basins, confirm surveys

  

  Some 900 million barrels of oil have been detected at two basins in eastern Panama, representing a potential contribution to the country’s coffers of 15 billion dollars over 20 years, the National Energy Secretariat announced.

• Wednesday, August 31st 2011 - 08:46 UTC

  Rush to explore and develop shale oil and natural gas in Argentina’s Neuquen basin

  

  Exxon Mobil Corp, the largest US oil company, will spend as much as 76.3 million dollars to explore and develop shale oil and natural gas in Argentina with Americas Petrogas Inc.

• Wednesday, August 31st 2011 - 08:34 UTC

  Global production of bio-fuels increased 17% last year reaching 105 billion litres

  

  Global production of bio-fuels increased 17% in 2010 to reach an all-time high of 105 billion liters, up from 90 billion liters in 2009.

• Wednesday, August 31st 2011 - 08:11 UTC

  Mexico’s Pemex gains strong position in Spain’s Repsol with voting alliance

  

  Mexico's state oil monopoly Pemex said on Tuesday it aims to boost its access to top-end technology to explore for oil in the deep waters of the Gulf of Mexico by increasing its stake in Spanish oil firm Repsol.

• Wednesday, August 31st 2011 - 02:11 UTC

  Chile’s oil corporation to drill ten exploratory wells in Magallanes region

  

  ENAP, Chile’s national oil and gas corporation announced it will invest 30 million dollars in drilling ten exploratory wells in Magallanes province, extreme south Patgonia and where the country’s main hydrocarbons resources are located.

• Wednesday, August 31st 2011 - 01:05 UTC

  Exxon clinches Arctic oil exploration deal with a Russian government company

  

  US oil major Exxon Mobil has clinched an Arctic oil exploration deal with Russian state-owned oil firm Rosneft. The venture seemingly extinguishes any remaining chance of UK’s BP reviving its own deal, which lapsed in May.

• Wednesday, August 31st 2011 - 00:58 UTC

  Hundreds of thousands remain without electricity in north east US and Quebec

  

  The cleanup after tropical storm Irene continued Tuesday across the Canadian province of Quebec, where the storm washed out roads, downed power lines and possibly contributed to one death. An 81-year old man died after he disappeared for several hours during the storm northeast of Montreal.

• Tuesday, August 30th 2011 - 03:54 UTC

  Argentina regulator to investigate YPF and Repsol YPF on accounting standards

  

  Argentina’s securities regulator said it will investigate the chairman and chief executive officer of YPF SA, the nation’s largest oil producer, as part of a probe into the company’s accounting.

• Friday, August 26th 2011 - 16:56 UTC

  Argentina blocks sale of Paraguayan power to Uruguay

  

  “Argentina wants to charge 49 dollars per KW of power transferred from Paraguay to Uruguay, which is five times what it charges Brazil” claims Paraguayan Vice President Federico Franco who described the pretension as “inadmissible and preposterous”.