Energy & Oil

Sunday, February 27th 2011 - 23:08 UTC
ANCAP contracts 50.000 km areo-magnetic survey of the Uruguayan offshore

Uruguay government owned oil company ANCAP contracted the international company Fugro for the provision of geophysical services covering a complete aero-magnetic survey of the River Plate area and Atlantic Ocean where Uruguay is about to launch a hydrocarbons exploratory round.
Saturday, February 26th 2011 - 06:02 UTC
Brazilian judge blocks plans to build world’s third largest dam in the Amazon

A Brazilian judge has blocked plans to build a huge hydro-electric dam in the Amazon rainforest because of environmental concerns. Federal judge Ronaldo Desterro said environmental requirements to build the Belo Monte dam had not been met.
Saturday, February 26th 2011 - 05:54 UTC
Petrobras posts record net profit in 2010: 20 billion US dollars

Latin America's biggest company, Brazilian state-managed oil giant Petrobras, on Friday said it raked in a record net profit last year of 20 billion US dollars. That figure for 2010 was 17% higher than its profit for 2009 company executives told a news conference in Rio de Janeiro.
Saturday, February 26th 2011 - 02:54 UTC
Uruguay and Argentina agree to build floating re-gasification plant

Uruguay and Argentina signed on Friday an agreement to build a re-gasification plant for liquid natural gas to help meet their energy needs. The floating re-gasification plant will supply the two nations with 10 million cubic meters a day of natural gas, scalable to 15 million, starting in 2013 according to an official statement.
Friday, February 25th 2011 - 21:29 UTC
China Sinopec completes take over of US Occidental Petroleum assets in Argentina

China Petrochemical Group (Sinopec), China's largest oil refiner announced this week that U.S. Occidental Petroleum Corp. (NYSE:OXY) had completed handing over its Argentinean assets to it.
Friday, February 25th 2011 - 06:33 UTC
China will participate in Brazil’s next oil and gas bidding round

China's Sinopec Corp said it planned to participate in Brazil's next oil and gas bidding rounds, which should be resumed after the passage of a reform of the country's oil law expected this year.
Friday, February 25th 2011 - 06:23 UTC
Repsol-YPF doubles profits; targets Brazil’s new fields instead of Argentina

Repsol-YPF, Spain’s biggest oil company, said fourth-quarter profit more than doubled after refining margins improved and crude prices increased. Profit adjusted to exclude inventories and one-time items climbed to 499 million Euros from 241 million Euros a year earlier, the Madrid-based company said on Thursday.
Thursday, February 24th 2011 - 07:49 UTC
Uruguay and India explore wind energy cooperation

A high level delegation from Uruguay is exploring the possibility of forging cooperation with India in the wind power sector. Led by Uruguayan Vice President Danilo Astori, the delegation visited Wednesday the plant of RRB Energy Ltd (RRBEL) in Chennai (formally Madras).
Wednesday, February 23rd 2011 - 07:02 UTC
OPEC promises to compensate for any oil drop off by unrest in Middle East

Trying to calm turbulent oil markets, Saudi Arabia's Oil Minister said on Tuesday that the Organisation of the Petroleum Exporting Countries (OPEC) was ready to pump more oil to compensate for any drop-off caused by unrest in the Middle East.
Tuesday, February 22nd 2011 - 07:00 UTC
Malvinas basin oil exploration scheduled to begin first half of 2011

Repsol-YPF plans to start deepwater exploration off the coast of Tierra del Fuego in the Malvinas basin are expected to begin before the end of the first half of 2011, according to company’s sources.