Energy & Oil

• Wednesday, July 21st 2010 - 05:49 UTC

  BP sells assets in US, Canada and Egypt to pay clean up bill

  

  British Petroleum is to sell assets in Texas, Canada and Egypt, to part-fund the clean-up cost of the Gulf of Mexico oil spill. The oil giant said it had reached a 7 billion US dollars deal with US-based oil production firm Apache Corp.

• Saturday, July 17th 2010 - 07:01 UTC

  Bolivia confirms pipeline to supply Paraguay and Uruguay with natural gas

  

  Hydrocarbons minister Fernando Vincenti confirmed that Bolivia is interested in extending its natural gas pipeline network to add Paraguay and Uruguay to its list of clients now limited to Mercosur main associates, Brazil and Argentina.

• Friday, July 16th 2010 - 19:41 UTC

  Colombia joins race to become energy independent by 2020

  

  Colombian state oil company Ecopetrol said it expects to produce 1.3 million barrels per day of “clean” oil equivalent by 2020 and that some 80 billion US dollars in investment will be needed to meet the target.

• Friday, July 16th 2010 - 15:56 UTC

  Falklands’ oil exploration to continue with second Rockhopper drill

  

  Oil fortunes ebbed and flowed this week as one exploration company abandoned its well, another looked forward to a second bumper find, and a new player joined the race for black gold in Falklands’ waters.

• Friday, July 16th 2010 - 08:01 UTC

  Petrobras begins deepwater pre-salt commercial crude production

  

  Brazil’s government controlled energy giant Petrobras began commercial crude production Thursday from a deepwater deposit in the pre-salt region, which the government anticipates will turn the country into a global leader in oil production.

• Friday, July 16th 2010 - 07:58 UTC

  Cold wave in Argentina forces shutdowns in gas powered industries

  

  The cold wave in Argentina has killed at least five people, forced the closure of highways and left most of industry short of gas given the soaring residential consumption.

• Thursday, July 15th 2010 - 06:05 UTC

  Venezuela oil reserves could double Saudi Arabia, says US assessment

  

  A new US assessment of Venezuela's oil reserves could give the country double the supplies of Saudi Arabia. Scientists working for the US Geological Survey say Venezuela's Orinoco belt region holds twice as much as previously thought.

• Tuesday, July 13th 2010 - 22:01 UTC

  Argos warned by Argentina to abstain from drilling in the Falklands or…

  

  Argos Resources the latest company to announce it will begin oil exploration operations offshore the Falkland Islands was sent a letter by the Argentine embassy in London warning it “to abstain” from such activities otherwise “it will face legal actions”, according to reports in the Buenos Aires press.

• Tuesday, July 13th 2010 - 21:31 UTC

  Deepwater oil rig needed to drill in Falklands’ southern waters, confirms FOGL

  

  Falkland Oil and Gas (FOGL) will press ahead with its drilling program offshore the Falkland Islands despite reporting that its Toroa F61/5-1 exploration well was dry. However FOGL, which is associated with Anglo-Australian mining giant BHP Billiton, said it will work first towards contracting a deepwater rig.

• Tuesday, July 13th 2010 - 06:37 UTC

  Petrobras first tests in the Franco sub-salt field confirm 50.000 bpd

  

  Brazil’s oil regulator ANP said it concluded its first test at the Franco offshore field, which holds the oil reserves that the government may sell state-controlled Petroleo Brasileiro SA, Petrobras, in exchange for new stock.