Energy & Oil

• Friday, April 9th 2010 - 02:57 UTC

  Argentina to drill two wells next to Falklands’ waters in last quarter

  

  Several oil companies operating in Argentina have teamed up to begin hydrocarbons explorations close to Falklands’ waters. The companies have programmed to spend 140 million US dollars in two exploratory wells for which they have contracted a special drilling vessel, according to reports in the Buenos Aires press.

• Thursday, April 8th 2010 - 04:25 UTC

  Mujica consolidates close trade and energy links with Venezuela

  

  Venezuelan President Hugo Chavez offered Wednesday to help Uruguay expand a refinery and supply it with crude oil. Chavez and visiting Uruguayan President Jose Mujica signed several accords pledging to deepen trade and energy ties between the two nations.

• Wednesday, April 7th 2010 - 21:02 UTC

  Bolivia and Brazil discuss energy and exploitation of strategic minerals

  

  Bolivia and Brazil are considering a vast joint investment program to industrialize natural gas and for the exploitation of strategic minerals in the salt plains of the land-locked Andean country.

• Wednesday, April 7th 2010 - 01:09 UTC

  Falklands’ Desire describes Liz well as “promising”; confirms drilling campaign

  

  Following the announcement of a gas discovery in the North Falklands Basin, Desire's Chairman Stephen Phipps describes the ‘The Liz’ well as, “complex and highly encouraging” and sufficiently promising to continue with the drilling campaign in Falklands’ waters.

• Monday, April 5th 2010 - 23:57 UTC

  Oil prices reach an 18-month high following on US encouraging data

  

  Oil prices have reached an 18-month high as analysts predict the recovery of the US economy and a rising demand for fuel. Crude oil for May delivery hit a high of 85.89 USD a barrel at one point in New York trading - the dearest since the peak of the financial crisis in October 2008.

• Friday, April 2nd 2010 - 00:04 UTC

  Desire Petroleum plc - Drilling Update

  

  Desire Petroleum Plc (AIM:DES) the oil and gas exploration company, wholly focused on the North Falkland Basin, wishes to provide a further drilling update on the Liz 14/19-1 Exploration well, where wireline operations are continuing.

• Thursday, April 1st 2010 - 05:53 UTC

  Falkland Islands: Investors lose fortunes as oil shares plummet

  

  LOCAL investors – reputedly one in ten of the population – saw the value of their oil shares plummet this week as Desire Petroleum confirmed media speculation that the first oil found by the Ocean Guardian rig was of poor quality.

• Wednesday, March 31st 2010 - 18:24 UTC

  High-quality oil in once guerrilla infested Colombian jungle

  

  Petrominerales Ltd., mostly owned by Canadian companies said Monday that an oil well drilled in Colombia has produced a prolific 15,600 barrels of high-quality crude per day, following similarly strong results from two other wells on its Candelilla discovery.

• Tuesday, March 30th 2010 - 04:48 UTC

  Chavez announces the discovery of a “super well” of natural gas

  

  Venezuelan President Hugo Chavez announced the discovery of a “super well” that shows an offshore field holds almost twice as much natural gas as originally estimated.

• Monday, March 29th 2010 - 18:40 UTC

  Falklands’ Desire shares slump following disappointing first well

  

  Shares in UK-Falklands Desire Petroleum slumped Monday as the company officially confirmed a disappointing result from the first drilling in its exploration campaign in the North Falkland Basin.