Energy & Oil

Wednesday, January 4th 2012 - 06:06 UTC
US is ending three-decade subsidies on corn ethanol

The US government is ending a three-decade-old policy of subsidizing corn ethanol, but it appears that the loss of the 6 billion dollars annual benefit will have little impact on farmers.
Wednesday, January 4th 2012 - 05:20 UTC
Petrobras announced discovery of light oil offshore Espirito Santo basin

Petrobras has discovered light oil and gas accumulation in the Tambuata prospect in Brazil’s offshore Espirto Santo basin. Well 4-GLF-31-ESS was drilled in 1.520 metres water depth in the Golfinho Concession (4-BRSA-1001-ESS).
Tuesday, January 3rd 2012 - 03:04 UTC
Venezuela cuts Exxon-Mobil compensation payment from 908m to 255m dollars

Venezuela's PDVSA said on Monday it will pay Exxon Mobil Corp 255 million dollars in compensation for nationalized assets, which is less than a third of what the US oil giant said it was awarded by an arbitration panel.
Monday, January 2nd 2012 - 03:46 UTC
Victory for Chavez in arbitration with Exxon Mobil over assets’ nationalization

An international arbitration panel has awarded US oil giant Exxon Mobil Corp 908 million dollars in compensation for Venezuela's 2007 nationalization of assets, less than 10% of what it sought in a dispute that pitted a top global oil company against one of the world's largest oil exporters.
Saturday, December 31st 2011 - 03:26 UTC
UK awards 46 offshore hydrocarbons exploratory licences in controversial areas

UK government has awarded 46 new offshore exploratory drilling licences to firms, including Shell and Centrica, looking for oil and gas. The awards were initially held back due to environmental concerns.
Friday, December 30th 2011 - 21:10 UTC
Rockhopper completes sidetracking of its latest well in Falklands’ waters

Rockhopper Exploration, the oil and gas group working in the Falkland Islands announced on Friday it has completed coring and logging operations on a sidetrack of its latest well in the North Falkland Basin
Wednesday, December 28th 2011 - 03:41 UTC
Falklands have three options for a new deep water port

The location of a new deep water port for the Falkland Islands been narrowed down to three potential sites: Mare Harbour, Navy Point (north of the Camber) and Stanley harbour (FIPASS) it was confirmed at the Executive Council meeting last week following a discussion of the issue.
Monday, December 26th 2011 - 21:10 UTC
Brazil overtakes the UK and becomes the world’s sixth largest economy

Brazil has overtaken the UK as the world's sixth largest economy according to the Centre for Economics and Business Research, CEBR. The latest World Economic League Table also showed Asian countries moving up and European countries falling back.
Monday, December 26th 2011 - 18:07 UTC
“Except for Malvinas, we have a very good dialogue with the UK”, says Almagro

Leaving aside the current diplomatic situation with the UK because of the Uruguayan government decision to bar Malvinas’ flagged vessels from local ports, “we have a very good dialogue with Great Britain” said Uruguayan Foreign Affairs minister Luis Almagro.
Monday, December 26th 2011 - 11:27 UTC
“People must know full facts” about Argentina’s intentions in the Falklands

Many Members of Parliament and in the Lords, from all parties, are totally committed to standing up for the Falkland Islands and rebutting the actions of Argentina, according to Conservative MP Andrew Rosindell and Secretary of the Falkland Islands Group in Westminster. He added people must know the true facts and intentions behind Argentina’s actions.