Brazil’s production of oil and natural gas in December 2010 surpassed the previous one-month record, according to a release from the ANP regulatory agency. December 2010 oil output of 2.18 million barrels per day represents a 4.4% increase over November and was 9.1% higher than in December 2009.
Mina Invierno, a major coal mine project to be located in Chilean Patagonia, has sparked new controversy in the Magallanes Region. The coal mine will be located on Isla Riesco, Chile’s fourth biggest island, just 80 miles from the region’s capital of Punta Arenas.
Falkland Islands Desire Petroleum announced Tuesday it has sufficient funds to complete the programmed round of six well drillings, additional 3D seismic surveying and demobilization costs at the end of the campaign.
Latest offshore wind statistics released by the European Wind Energy Association (EWEA) confirm that the UK is the European and world leader in the sector, with 1,341MW installed.
Building will now begin on what will be the world's third-largest hydroelectric dam after Ibama, Brazil's environment agency, gave the go-ahead for the controversial $17 billion (£10.6 billion) project.
Oil options volatility increased as the underlying futures surged the most since September 2009 as unrest in Egypt raised concern that protests would spread to major oil-producing parts of the Middle East.
A Spanish firm and two Argentine ones have been awarded tenders to build wind farms. Spanish Teyma and the Argentine Impsa and Fingano will invest around U$ 300 million in the project.
Representatives from Rockhopper Exploration are visiting the Falkland Islands this week. The company took over the rig Ocean Guardian from Desire on completion of their well, and Rockhopper’s well 14/10-3 (Sea Lion North) was spudded on January 13.
Argentine daily newspaper El Cronista on Monday reported that YPF will begin oil exploration in the Malvinas basin in February. The newspaper reports that exploration will begin 289 kilometres off the coast of Tierra del Fuego and cost U$ 150 million.
Future cooperative agreements among the countries of the Pacific Ring could reduce electricity costs in Chile’s far north by up to 25 percent. Chile’s energy costs are currently the highest in the region.