Energy & Oil

• Thursday, March 31st 2011 - 02:17 UTC

  GeoPark joins Korea’s LG to expand oil exploration in Latin America and Asia

  

  Latin American oil and gas company GeoPark Holdings which operates in Argentina and Chile, will sell a 10% stake in GeoPark Chile Ltd for 70 million US dollars to a unit of Korea's LG Corp. The transaction is expected to close in the second quarter of 2011, GeoPark said.

• Wednesday, March 30th 2011 - 05:21 UTC

  Falklands’ Desire Petroleum announces drilling of sixth well has begun

  

  The Falkland Islands hydrocarbons exploratory round begun over a year ago is steaming ahead. Desire Petroleum announced Tuesday it had begun exploratory drilling on the Ninky prospect with a total planned depth of 2.620 metres.

• Monday, March 28th 2011 - 04:49 UTC

  Falklands’ oil equipment arrives in vessel with giant computer-controlled kite

  

  One of the strangest ships ever to visit the Falkland Islands this week lay at anchor in Port William after making a hasty departure from FIPASS. Had it not left the dock, an ongoing legal wrangle involving its owners could have caused it to be detained there indefinitely – rendering a significant proportion of FIPASS unusable by other vessels, perhaps for a very long time.

• Saturday, March 26th 2011 - 08:33 UTC

  Repsol divests another 6.67% of its stake in Argentina’s YPF

  

  Spain’s main oil company Repsol has listed 26.21 million shares of YPF on the New York Stock Exchange for 1.08 billion US dollars as part of a plan to divest its stake in its Argentine unit.

• Tuesday, March 22nd 2011 - 22:17 UTC

  Brazilian president conditions pending visit to Paraguay

  

  President Dilma Rousseff will not be visiting Paraguay until the Brazilian Congress approves the Itaipú reversal notes which establish a greater compensation for surplus power purchased from Paraguay by Latin America’s energy hungry largest economy.

• Monday, March 21st 2011 - 18:35 UTC

  Falklands’ oil find likely to be commercially viable, says Rockhopper Exploration

  

  Rockhopper Exploration announced Monday that its Sea Lion discovery in the North Falkland basin is likely to be commercially viable and anticipated drilling for further appraisal wells (a minimum of three).

• Sunday, March 20th 2011 - 07:43 UTC

  Uruguay contracts 2D seismic survey in anticipation of second oil licensing round

  

  Singapore based Reflect Geophysical has been selected by Uruguay’s state oil company Ancap to carry out a 2D seismic survey in the country’s Punta del Este and Pelotas offshore basins.

• Saturday, March 19th 2011 - 07:26 UTC

  Oil legislation to obstrut Falklands’ industry, a ‘boomerang’ for Argentine companies says FCO

  

  For the Foreign Office the bill approved this week by the Argentine congress that proscribes fines and sanctions for companies or persons involved in support of the oil industry in the Falkland Islands is a ‘boomerang’’ that will only harm Argentine companies, reports Buenos Aires daily La Nacion in its Friday edition.

• Saturday, March 19th 2011 - 07:19 UTC

  Argentina on its way to become net energy importer, claim former ministers

  

  Eight of Argentina's former energy secretaries have released another document highly critical of the government's energy policies. The document, signed by most of the people who have run the Energy Secretariat since Argentina's return to democracy in 1983, is a scathing criticism of government policy.

• Thursday, March 17th 2011 - 05:30 UTC

  FOGL has identified large prospects for exploration in the South Falkland Basin

  

  London listed Falkland Oil and Gas says that its negotiations to secure a deep water rig are at an advanced stage as it seeks to drill the large prospects it has identified across the South Falkland Basin.