Energy & Oil

• Tuesday, May 24th 2011 - 06:39 UTC

  Korean conglomerate LGI secures oil block in southern Chile

  

  GeoPark oil and gas company with operations in Latin America announced in a joint release the definitive sale of oil and gas exploration and production blocks in the south of Chile to the Korean conglomerate LG International Corporation.

• Monday, May 23rd 2011 - 06:04 UTC

  Colombia’s oil company makes new discovery; plans to drill another ten wells in the block

  

  Colombian state oil company Ecopetrol said it made a new discovery at a well in the south-eastern Caño Sur block, of which the company is the sole owner and operator.
  The Mito-1 exploratory well yielded an average of 200 barrels per day of heavy oil in initial testing, Ecopetrol, which plans to drill another 10 wells at that block in the near future, said.

• Friday, May 20th 2011 - 01:07 UTC

  Falklands’ oil exploration companies expand early 2012 drilling program

  

  Borders & Southern Petroleum has extended a contract for exploratory drilling in Falkland Islands waters to include at least another two wells, it was announced on Thursday by parties involved.

• Tuesday, May 17th 2011 - 15:35 UTC

  Brazilian banks and funds create company to build deep-water rigs for Petrobras

  

  A group of Brazilian banks and funds have created a company called Sete Brasil that will build seven deep-water rigs for state-run oil company Petrobras offshore exploration campaign, Petrobras announced on Monday.

• Tuesday, May 17th 2011 - 00:38 UTC

  Overwhelming majority of Chileans reject hydroelectric project in Patagonia

  

  Opposition to the HydroAysén dam and power line project grew throughout Chile this past week in the wake of massive demonstrations protesting the project’s approval on Monday May 9 in southern Chile.

• Friday, May 13th 2011 - 13:55 UTC

  Brazilian president still recovering from pneumonia cancels trip to Paraguay

  

  Brazilian president Dilma Rousseff cancelled on medical advice Sunday’s trip to Asunción where she was scheduled to participate in the bicentennial celebrations of Paraguay’s independence.

• Friday, May 13th 2011 - 05:15 UTC

  Power outage knocks out Venezuelan refinery complex, one of the world’s largest

  

  A power fault hit Venezuela's main refinery centre on Thursday, stopping the 310,000 barrel-per-day Cardon facility and partially halting the 645,000-bpd Amuay installation, a source at state oil company PDVSA said.

• Thursday, May 12th 2011 - 06:32 UTC

  BP ups its stake in Brazil’s oil industry and will participate in September’s round

  

  British Petroleum is negotiating opportunities to buy stakes in oil fields in Brazil to accelerate production increases, the head of the company's Brazil division said on Wednesday.

• Wednesday, May 11th 2011 - 13:42 UTC

  Interest in Falklands oil exploration “on the increase” at AAPG

  

  INTEREST in the Falkland Islands, “is on the increase,” said Director of Mineral Resources Phyllis Rendell who recently attended the American Association of Petroleum Geologists (AAPG) in Houston.

• Wednesday, May 11th 2011 - 01:34 UTC

  Fearing US reaction, Cuba makes public full-scale offshore oil exploration plans

  

  Cuba hopes to counter US worries over its plans to start its first full-scale offshore oil exploration in a rare presentation this week to an energy audience outside the island.