Energy & Oil

• Wednesday, June 8th 2011 - 23:16 UTC

  Brazil, India, Russia increased global proven oil reserves by 0.5% in 2010 says BP

  

  Global proven oil reserves rose by 0.5% in 2010, boosted by increases in Brazil, India and Russia, according to British Petroleum. Deposits advanced to 1.3832 trillion barrels at the end of last year from a revised 1.3766 trillion in 2009, BP said in its annual Statistical Review of World Energy.

• Wednesday, June 8th 2011 - 23:00 UTC

  Energy-short Argentina stocking LNG to face falling winter temperatures

  

  Argentina will receive this week two LNG cargoes from Spain's Gas Natural as it steps up purchases to meet rising demand in the face of falling temperatures, according to Argentine state owned energy company Enarsa sources.

• Wednesday, June 8th 2011 - 16:41 UTC

  Argentina gas earmarked for domestic consumption, not export, says minister

  

  Argentina won't become a natural gas exporter under the current government even if potentially massive deposits of unconventional gas turn out to more than enough to supply the domestic market, announced Planning minister Julio De Vido.

• Monday, June 6th 2011 - 06:34 UTC

  Major Indian oil company interested in shale gas assets in Argentina

  

  State run India OIL Ltd has drawn up a war chest of over 1 billion US dollars, for acquiring a producing oilfield abroad and the company is trawling major oil-producing geographies, among which shale gas assets in Argentina, chairman N M Borah said last week.

• Monday, June 6th 2011 - 05:57 UTC

  YPF ready to take control of Argentina’s main gas distributor

  

  Argentina’s oil corporation YPF signed a purchase option for 54.67% of the British Gas controlled GASA group that is the country’s largest distributor of gas. The purchase option expires August 31.

• Thursday, June 2nd 2011 - 09:44 UTC

  Mexico’s oil company sues US firms for trading stolen gas condensates

  

  Petroleos Mexicanos; Pemex, sued 11 US firms over claims they helped Mexican drug cartels smuggle and re-sell more than 300 million USD in natural gas liquids stolen from Mexico’s northern oilfields into the U.S.

• Thursday, June 2nd 2011 - 09:29 UTC

  New York sues Federal government on natural gas drilling in Delaware river basin

  

  New York's attorney general is suing the federal government to compel a full environmental review of proposed regulations for natural gas drilling in the Delaware River Basin.

• Thursday, June 2nd 2011 - 08:57 UTC

  Rolls Royse joins Brazil’s new oil rush with plant for offshore rigs energy modules

  

  Relying on the expected growth of the oil and gas industry in Brazil and the influx of new rigs and floating production, storage and offloading, FPSO, in the Brazilian offshore market, British manufacturer, Rolls Royse is set to make a 60 million US dollars investment in a new plant to build energy modules for offshore rigs.

• Thursday, June 2nd 2011 - 04:15 UTC

  Brazil gives definitive approval to world’s third largest hydroelectric dam project

  

  Brazil's environment agency gave its definitive approval Wednesday for construction of the Belo Monte hydroelectric dam, a controversial 17 billion US dollars project in the Amazon that has drawn criticism from native Indians and conservationists.

• Wednesday, June 1st 2011 - 16:23 UTC

  Falklands’ appraisal well confirms oil quality at Sea Lion prospect discovery

  

  Rockhopper Exploration operating in the North Falkland basin has provided an upbeat update on its second appraisal well, 14/10-5, on the Sea Lion discovery which was drilled 600 m north of the 14/10-2 discovery well to a TD of 2,726 m.