Energy & Oil

• Monday, January 23rd 2012 - 16:47 UTC

  Repsol-YPF begins exploratory drilling off Cuba closet o the Florida Keys

  

  A large oil rig has arrived off the coast of Cuba to begin searching for offshore oil deposits. Several international companies will use the rig to drill exploratory wells in deep water in the Florida Strait, which separates Cuba from the US.

• Monday, January 23rd 2012 - 15:00 UTC

  Cairn Energy sells 30% of stake in Greenland licence to Norway’s Statoil

  

  British Oil explorer Cairn Energy has sold off a 30% stake in one of its Greenland exploration licences to Norwegian group Statoil. It is part of Cairn's plan to bring in a partner in to share the costs of exploration in the Arctic.

• Monday, January 23rd 2012 - 04:30 UTC

  A woman of gritty character will head Brazil’s largest corporation, Petrobras

  

  Maria da Gracas Foster, (58), will be head of Brazil’s largest corporation, Petrobras as of next February. This is the first time that the Brazilian oil corporation among the largest in the world will have a woman as CEO.

• Sunday, January 22nd 2012 - 05:44 UTC

  Falklands confirms second oil rig has reached the Islands; spudding planned for Monday

  

  Falklands oil industry sources confirmed that the semi-submersible Leiv Eiriksson oil exploration rig has reached Falklands’ waters and should be spudding its first well next Monday.

• Saturday, January 21st 2012 - 05:38 UTC

  Argentine industry requests postponement of the new imports scheme

  

  Argentine manufacturers have requested the administration of President Cristina Fernandez to delay the implementation of the new imports scheme which is scheduled to begin next February first fearing it could cause delays in the supply of non local inputs.

• Wednesday, January 18th 2012 - 02:47 UTC

  Chile’s ENAP plans to drill 15 hydrocarbons exploratory wells in Tierra del Fuego

  

  Chile’s government owned oil and gas company ENAP presented this week the environmental impact study for an exploratory drilling round in the Province of Tierra del Fuego which includes fifteen wells and will demand an investment of 30 million dollars.

• Monday, January 16th 2012 - 18:30 UTC

  Chile with 50% hydro power by 2034, but serious energy shortages in 2015

  

  President Sebastián Piñera announced a 20-year plan for Chile’s energy needs at the annual energy dinner in front of the country’s top executives in the electricity sector. The president said the plan aims to create “a cleaner energy, that is safer, more economical and that agrees with the energy requirements of our country.”

• Monday, January 16th 2012 - 02:28 UTC

  Merrill Lynch appointed to find partners to develop Falklands’ oil project

  

  Rockhopper Exploration which recently discovered oil and gas in Falkland Islands waters has appointed Bank of America Merrill Lynch to lead the process of finding a partner for its 2 billion dollars oil project in the North Falkland basin, reports the London media.

• Sunday, January 15th 2012 - 09:32 UTC

  Ahmedinejad Visits Latin America, Washington Implores and Seethes

  

  At the best of times, the U.S. government is regarded as somewhat out of touch with what's happening in the American “heartland,” much less the world at large, so much so that the phrase “inside the Beltway” was coined to define the syndrome.

• Saturday, January 14th 2012 - 06:13 UTC

  Chevron, Repsol and Statoil to drill offshore Newfoundland and Labrador

  

  Chevron Canada Ltd., a big player in Canada's offshore oil industry, has struck a deal with Norwegian and Spanish oil companies to carry out exploration off the coast of Atlantic Canada.