Energy & Oil

• Thursday, October 18th 2012 - 23:13 UTC

  Hilary Clinton announces “energy diplomacy”, an issue of “wealth and power”

  

  Energy is key to economic development and political stability, US Secretary of State Hillary Clinton said on Thursday, citing example of developing countries like India and China where energy needs are growing rapidly along with their economies.

• Thursday, October 18th 2012 - 15:56 UTC

  Brazil plans to double natural gas output by 2020; 21 new rigs in 2018

  

  Brazil natural gas output could nearly double by 2020, reaching up to 120 million cubic-meters a day, as Latin America's largest economy increases the number of offshore platforms to take advantage of huge deep-sea oil reserves, the general director of the National Petroleum Authority, ANP, said this week.

• Thursday, October 18th 2012 - 07:11 UTC

  YPF sells medium term debt in Pesos equivalent to 423 million dollars

  

  Argentina's state-controlled energy company YPF sold medium-term local currency debt equivalent to a total of 423.2 million dollars on Wednesday, a stock market filing showed.

• Wednesday, October 17th 2012 - 05:13 UTC

  Paraguay begins drilling for oil in the Chaco next December

  

  Paraguay will begin exploring for hydrocarbons in the Chaco region, heartland of South America next 8 December, said oil consultant Mario Garnero after meeting on Tuesday with President Federico Franco.

• Friday, October 12th 2012 - 17:10 UTC

  Falklands’ government approves Rockhopper farm-out agreement with Premier Oil

  

  Rockhopper Exploration which struck oil at its North Falkland basin Sea Lion exploratory well in May 2010 has received formal agreement from the Falkland Islands Government to the farm-out agreement reached with Premier Oil.

• Friday, October 12th 2012 - 16:50 UTC

  Three extraction rigs expected to be operating in the Falklands in next 2/3 years

  

  As the final drill in the Falkland Islands oil exploration round nears completion Director of Mineral Resources Stephen Luxton said it was a safe assumption to plan for three rigs rather than two in the next two to three years when extraction would get underway.

• Friday, October 12th 2012 - 16:44 UTC

  Noble Energy says Falklands’ oil production in six years if exploration well proves successful

  

  Noble Energy Inc. (NBL) executives said on Thursday that oil production in the Falkland Islands could begin in about six years if an exploration well proves to be successful.

• Friday, October 12th 2012 - 06:47 UTC

  Falklands’ oil industry socio-economic impact on track with “no major new concerns”

  

  A socio-economic impact study on the effects of an oil development project on the Falkland Islands did not reveal any, “major new concerns which had previously escaped attention Director of Mineral Resources Stephen Luxton told Penguin News this week.

• Friday, October 12th 2012 - 06:23 UTC

  Uruguay signs offshore contracts with oil companies: BP, BG, Total and Tullow

  

  The Uruguayan government has signed offshore exploration and production deals with British oil firms BG Group, BP plc, Ireland’s Tullow Oil and France's Total. The companies awarded 30-year concession contracts in April for the eight oil blocks - three each for BG and BP and one each for Tullow and Total - have committed to investing a total of roughly 1.56 billion dollars.

• Friday, October 12th 2012 - 00:46 UTC

  Argentine energy policy further limits methanol production in south Chile

  

  Canada’s Methanex Corporation announced on Thursday that because of severe restrictions in the provision of natural gas to its plant in the extreme south of Chile, Punta Arenas, Magallanes Region, the company is forced to another re-structuring which will leave 48 people redundant.