Energy & Oil

• Wednesday, November 23rd 2011 - 23:04 UTC

  Brazil suspends Chevron drilling rights until it clarifies the recent oil spill

  

  Brazil's National Oil Regulator (ANP) said on Wednesday that it is suspending the drilling rights of US oil major Chevron in national territory until it clarifies conditions of the recent oil spill in its Frade field.

• Tuesday, November 22nd 2011 - 00:40 UTC

  Brazil imposes maximum fine on Chevron for oil spill, but more sanctions in the pipeline

  

  Brazil’s environmental agency said on Monday it will fine US Chevron 50 million Reais, nearly 28 million dollars, for a continuing oil spill off the coast of Rio de Janeiro and the company could face several more similar fines in the coming days.

• Monday, November 21st 2011 - 14:31 UTC

  Falkland Oil and Gas begins drilling in the second quarter of 2012

  

  Falkland Oil and Gas (FOGL) confirmed on Monday it was holding talks with potential partners to look for oil and gas in the Falkland Islands and announced that the exploration rig slated to drill four wells in Falklands’ waters is expected in the Islands in late January 2012.

• Monday, November 21st 2011 - 07:16 UTC

  Ecuador says it is breaking oil daily production record

  

  State-owned oil company Petroecuador said it broke its daily production record on Tuesday 15 November, pumping 156.359 barrels of crude on that day. Production from Jan. 1 to Nov. 8 totalled 47,096,086 barrels of crude, Petroecuador said in a report.

• Monday, November 21st 2011 - 04:04 UTC

  Chevron takes full responsibility for the oil spill offshore Brazil

  

  Chevron promised to fully clean-up a spill off Brazil's coast, the CEO of the local subsidiary, George Buck, said on Sunday, taking responsibility for an accident that has become a major test for one of the world's fastest-growing oil frontiers.

• Thursday, November 17th 2011 - 22:11 UTC

  Brazilian federal police open a probe into an oil spill from a Chevron well

  

  Brazilian federal police have opened a probe into US oil giant Chevron over alleged pollution linked to an oil spill at its offshore Frade project, local media reported Thursday.

• Tuesday, November 15th 2011 - 23:09 UTC

  Uruguay puts a 65 dollar per MW-hour cap for developing wind power projects

  

  Uruguay won’t accept bids above 65 dollars a megawatt-hour from developers bidding to sell power from wind farms as concerns mount that rates have dropped too low.

• Tuesday, November 15th 2011 - 06:54 UTC

  Consortium announces major ‘high quality’ oil discovery off the Brazilian coast

  

  Repsol, Spain's biggest oil group said Monday it has made a new oil discovery off the coast of Brazil together with Chinese partner Sinopec, Britain's BG Group and Brazil's Petrobras.

• Monday, November 14th 2011 - 20:47 UTC

  Brazil moves into Tanzania and will help increase power generation five-fold

  

  Brazilian business and public contractor giant Odebrecht Company Limited, with top global businesses and operations across a wide variety of industries, has shown interest in undertaking the huge Stiegler's Gorge power project in Tanzania’s Rufiji river basin, according to “The East African” weekly.

• Monday, November 14th 2011 - 07:13 UTC

  Chevron halts drilling off the coast of Brazil following an oil-spill

  

  Oil giant Chevron halted drilling of a well off the coast of Brazil as it looks into the possible causes of an oil spill in the region. Chevron said in a statement e-mailed that an oil sheen had appeared on the surface of the ocean near the Frade project it operates, which it attributed to oil seeps in the area.