Energy & Oil

• Thursday, December 15th 2011 - 17:58 UTC

  Brazilian prosecutors suing Transocean and Chevron 10bn dollars for oil spill

  

  Brazilian federal prosecutors are suing Transocean Ltd and Chevron Corp for 20 billion Reais (10.6 billion dollars) in environmental and social damages and asked a court to suspend their operations, according to a statement yesterday.

• Wednesday, December 14th 2011 - 16:48 UTC

  OPEC agrees 30m bpd supply target; Saudis want oil below 100 dollars per barrel

  

  OPEC oil producers on Wednesday sealed their first new production limit in three years in a deal that settles a 6-month-old argument over output levels firmly in Saudi Arabia's favour.

• Wednesday, December 14th 2011 - 03:45 UTC

  Brazil’s development bank helping finance wind energy farms

  

  Brazil’s development bank, Banco Nacional de Desenvolvimento Economico e Social, BNDES, will provide 1.8 billion Reais (966 million dollars) to finance wind farms as the renewable energy source dominates government auctions for new power capacity.

• Tuesday, December 13th 2011 - 16:08 UTC

  Rockhopper announces “fantastic result” with third oil discovery in Falklands

  

  Rockhopper Exploration PLC reported a “fantastic result” as its third discovery in the North Falkland basin encountered oil and-or wet gas in four hydrocarbon-bearing target zones, said the company on a Tuesday release in London.

• Tuesday, December 13th 2011 - 08:46 UTC

  Falklands oil exploration update

  

  Desire Petroleum plc (AIM:DES) the exploration company wholly focused on the North Falkland Basin notes the announcement made today by Rockhopper Exploration plc (“the Operator”) regarding the 14/15-4 well. Desire has a 40% carried interest in this well.

• Friday, December 9th 2011 - 06:32 UTC

  Falklands’ oilfield development, Rockhopper Exploration next move

  

  Rockhopper Exploration announced Thursday in its interim results statement that the Falkland Islands drilling campaign has been very successful as it has established the Sea Lion discovery as a world-class asset.

• Thursday, December 8th 2011 - 22:28 UTC

  Mexico - Rising Natural Gas Superstate?

  

  Americans looking south of the Rio Grande tend to forget, if they ever knew, that Mexico is, according to the U.S. Energy Information Administration, now America's second largest source of imports.

• Tuesday, December 6th 2011 - 18:49 UTC

  Boom of the wind power energy in north-east Brazil: 11.2 MW by 2014

  

  Brazil is going through a wind power boom as production prices fall and government incentives attract a growing number of foreign suppliers. The wind power sector has a current capacity of around 1,400 megawatts, and is expected to grow nearly eight-fold by 2014, according to the Brazilian Association of Wind Energy ABEEolica.

• Tuesday, December 6th 2011 - 18:21 UTC

  Repsol-YPF extracts almost 10% of Ecuador’s oil production

  

  Repsol-YPF has raised its output in Ecuador to 45.000 bpd thanks to two new wells in the Amazon region, although the Spanish oil major still is forecasting a steady decline in production in the coming years, company executives said.

• Friday, December 2nd 2011 - 00:21 UTC

  ‘Leiv Eiriksson’ rig ends oil drilling in the Arctic and sails for the Falklands

  

  Edinburgh explorer Cairn Energy ended this week this year’s 600 million dollar drilling program off Greenland after the biggest exploration campaign attempted in the Arctic island’s waters failed to make a viable discovery.