Energy & Oil

• Tuesday, December 14th 2010 - 14:05 UTC

  Colombia’s Ecopetrol announces seventh technical oil discovery in 2010

  

  Colombia’s Ecopetrol has reported oil shows from a second stratigraphic well on the Cano Sur block, where Shell holds a 50% stake. Ecopetrol said that it completed drilling of the Draco-1 well, located in the southeastern province of Meta.

• Sunday, December 12th 2010 - 23:31 UTC

  Saudi’s 70/80 US dollars a barrel stance prevails at OPEC meeting in Ecuador

  

  Leading OPEC producer Saudi Arabia said it still favoured a 70-80 US dollars price range for oil, a restatement of a two-year-old policy that will be welcomed by consumer nations worried that rising oil prices may get out of control and hamper global economic recovery.

• Saturday, December 11th 2010 - 00:28 UTC

  Chinese company takes over Occidental petroleum assets in Argentina

  

  China Petrochemical Corp, parent of Sinopec Corp, agreed to buy all of US-based Occidental Petroleum Corp's oil and gas assets in Argentina for 2.45 billion US dollars, marking the energy giant's first foray into the upstream market in Argentina.

• Friday, December 10th 2010 - 18:20 UTC

  Chile begins construction of 1 MW solar energy plant to supply copper mine

  

  Last December 2, a ceremonial first stone was laid to mark the start of construction of a photovoltaic solar plant near the northern Chilean city of Calama.

• Wednesday, December 8th 2010 - 05:07 UTC

  Argentina discovers in Patagonia largest gas reserve in 35 years

  

  Argentine President Cristina Fernández de Kirchner was in charge of leading the Tuesday ceremony in which Repsol-YPF announced the discovery of a massive shale gas reserve, the largest in 35 years that could help the country reduce its imports of the fuel.

• Monday, December 6th 2010 - 07:32 UTC

  Falkland Islands: Desire drilling update

  

  Desire Petroleum plc (AIM:DES) the oil and gas company wholly focussed on the North Falkland Basin, today provides the following update on the latest logging results from the 14/15-2 Rachel North well which, following additional wireline data, will be plugged and abandoned with oil shows .

• Saturday, December 4th 2010 - 06:38 UTC

  Reports that Repsol-YPF have made a major natural gas discovery in Neuquén

  

  Repsol-YPF has made a mega natural gas strike in the Patagonian province of Neuquen which could supply Argentina with energy for the next half century at least according to an online publication, lapoliticaonline.

• Saturday, December 4th 2010 - 01:26 UTC

  GeoPark Chile raises 113 million USD for further oil exploration in Magallanes

  

  The Latin American oil and gas explorer and producer GeoPark which has been successfully drilling for oil and gas in the extreme south of Chile has made a private placement of 133 million US dollars to invest in expanding activities.

• Friday, December 3rd 2010 - 06:06 UTC

  Brazilian congress tightens grip on oil industry and new ‘strategic’ fields

  

  Brazil’s lower house of Congress approved this week new oil regulations that will increase government control over the energy industry and reduce competition against government managed Petrobras.

• Thursday, December 2nd 2010 - 09:14 UTC

  Falklands: Rachel North Exploration Well 14/15-2 Oil Discovery

  

  Desire Petroleum plc (AIM:DES) the oil and gas company wholly focussed on the North Falkland Basin, wishes to advise that the 14/15-2 Rachel North well has reached a total depth of 3052 metres.