Energy & Oil

• Thursday, May 6th 2010 - 13:45 UTC

  Oil Exploration Data Indicates the First Oil Discovery in the North Falklands Basin.

  

  In a press release from Rockhopper Exploration (LON:RKH), the company says “the North Falkland Basin oil and gas exploration company, is pleased to announce that well 14/10-2 on the Sea Lion prospect has reached a depth of 2,744 metres.”

• Thursday, May 6th 2010 - 05:34 UTC

  China’s Main Oil Corporation Closes 3.1 Billion Deal with Argentina’s Bridas

  

  China National Offshore Oil Corporation, CNOOC (NYSE:CEO) Ltd said on Wednesday it had closed a 3.1 billion US dollars deal with Argentina’s Bridas Energy Holdings (BEH) to buy a 50% stake in Bridas Corporation, a wholly owned subsidiary of BEH.

• Wednesday, May 5th 2010 - 22:03 UTC

  Petrobras Argentina Sells Parts of its Assets to Kirchner Couple Close Friend

  

  Petrobras Energía (NYSE:PZE), Brazil’s government managed oil and gas corporation announced it will sell part of its assets in Argentina to Oil Combustibles SA for 110 million US dollars, including a refinery, gasoline stations and inventories.

• Wednesday, May 5th 2010 - 21:19 UTC

  France Demands “Fair and Prompt” Compensation for Bolivian Nationalizations

  

  France's government demanded “fair and prompt” compensation from Bolivia for the nationalization of a power plant half-owned by French utility GDF Suez (EPA:GSZ).

• Friday, April 30th 2010 - 01:16 UTC

  Repsol YPF Plans to Raise Cash to Keep Expanding in Brazil

  

  Repsol YPF S.A. (BMAD:REP), Spain’s biggest oil company, is considering the sale of about 40% of its Brazil assets in an initial public offering as early as this year, company executives said Thursday on a conference call.

• Wednesday, April 28th 2010 - 03:22 UTC

  Falklands Military Base to be Powered by Wind, Following on Stanley’s Success

  

  Authorities at the Falkland Islands Mount Pleasant military base (MPC) have confirmed their interest in developing a wind farm that could bring the Falkland Islands Government (FIG) considerable benefits.

• Tuesday, April 27th 2010 - 23:09 UTC

  Paraguayan Press Blasts 37 Anniversary of Brazilian “Imperial Itaipú Treaty”

  

  Paraguay’s president Fernando Lugo said he is looking forward to the coming meeting next May 3 with his Brazilian counterpart Lula da Silva because he would be coming back with “good news” referred to the shared power from Itaipu, the world’s second largest hydroelectric dam belonging to both countries.

• Saturday, April 24th 2010 - 07:34 UTC

  US Navy Celebrates Earth Day With Flight Test of “Green” F/A Super Hornet

  

  The United States Navy celebrated Earth Day April 22 by showcasing a flight test of the “Green Hornet,” an F/A-18 Super Hornet multi-role fighter jet powered by a 50/50 blend of conventional jet fuel and camelina aviation bio-fuel.

• Friday, April 23rd 2010 - 23:06 UTC

  Falklands: Desire still upbeat on prospects

  

  DESIRE Petroleum, the oil exploration company in which many Falkland Islanders are shareholders, has said it is hopeful of making a discovery, despite posting a £2.5 million pre-tax loss for the year ending December 31 2009.

• Friday, April 23rd 2010 - 06:21 UTC

  Gulf of Mexico Rig Explodes and Sinks; 11 Workers Missing; Fears of Oil Leak

  

  An oil rig in the Gulf of Mexico that caught fire after an explosion on Tuesday night has now sunk, the US Coast Guard has said. A search is continuing for 11 missing workers after the blast at the Deepwater Horizon rig. The other workers on the rig, off Louisiana, were evacuated to the US.