Energy & Oil

• Friday, March 12th 2010 - 00:59 UTC

  BP gets a hold of Brazil’s oil potential buying out US Devon Energy

  

  British Petroleum has agreed to buy Brazilian, Azeri and Gulf of Mexico assets from Devon Energy for 7 billion US dollars, as the US producer refocuses on onshore US fields.

• Thursday, March 11th 2010 - 04:34 UTC

  Lloyd’s Register, Maersk on program to test bio-diesel for marine engines

  

  Lloyd's Register is to play a major role in a two year program to test the suitability of bio-diesel for use in powering marine engines. The feasibility study will take place on board the Maersk Line container ship, Maersk Kalmar.

• Thursday, March 11th 2010 - 00:43 UTC

  More oil in Brazil’s Santos Basin; Petrobras investment plan: 45 billion USD

  

  Brazilian government managed corporation Petrobras, Repsol-YPF and BG Group found more evidence of oil in the same offshore Brazilian sub-salt block where the companies’ Guara field holds as much as 2 billion barrels of crude.

• Thursday, March 11th 2010 - 00:37 UTC

  Argentine government blames Shell and Petrobras for gasoline shortage

  

  Argentina's government accused energy companies Royal Dutch Shell and Petrobras on Wednesday of deliberately causing gasoline shortages in order to force rival YPF to raise its prices.

• Wednesday, March 10th 2010 - 06:26 UTC

  China looks into developing vast resources of “combustible ice”

  

  China's western Qinghai Province, containing major deposits of the country's “combustible ice,” will see increased explorations for this emerging clean energy, Provincial Governor Luo Huining said on Saturday quoted by Xinhua news agency.

• Wednesday, March 10th 2010 - 05:49 UTC

  Argentina’s YPF imports fuel to meet demand for the first time in 30 years

  

  Argentine-Spanish oil company YPF said on Tuesday that it plans to import 50 million litres of gasoline as demand outstrips supply. Argentina, an oil-producing country where fuel is subject to government price controls, has not imported gasoline in 30 years.

• Tuesday, March 9th 2010 - 07:45 UTC

  Falklands' tension, no risk of military conflict says Jane’s analyst

  

  Exploratory oil drilling, which began last month in waters north of the Falkland Islands (whose sovereignty remains contested by the United Kingdom and Argentina) has upped the tension level in the region, the security information provider Jane's has noted.

• Thursday, March 4th 2010 - 00:52 UTC

  Venezuelans reluctant to save power and generation approaching critical situation

  

  The water level of Venezuela’s El Gurí dam which provides 75% of the country’s power is rapidly approaching the “critical zone” having dropped to 254 metres, just 14.45 metres from “collapse point” warned President Hugo Chavez.

• Wednesday, March 3rd 2010 - 23:05 UTC

  Falklands fourth Oil Company announces plans to drill south of the Islands

  

  The fourth British company licensed to explore in Falkland Islands waters, Borders and Southern Ltd announced preparations were “well underway” for a drilling campaign to the south of the Islands.

• Wednesday, March 3rd 2010 - 22:45 UTC

  “Falklands has a right to oil exploration”, letter in The Times

  

  Licences to drill for oil in Falkland Islands territorial waters were issued by the Falklands’ government, not by London, and Islanders are entitled to do this by the terms of the Joint Declaration over Oil issued by the Argentine and British governments in 1995, said Falklands Government Representative in London Sukey Cameron.