Energy & Oil

• Sunday, August 22nd 2010 - 04:28 UTC

  Shell defies in court Argentine government ban on fuel increases

  

  Royal Dutch Shell which refines about 15% of Argentina’s fuel is waging a court battle against a government ban that prevents fuel producers from increasing prices. Shell’s federal court complaint was filed last week following a government order on August 18 mandating oil companies to lower fuel prices to a pre-August 1 level.

• Friday, August 20th 2010 - 02:44 UTC

  Giant “Terror Birds” Used Their Heads Like Hatchets

  

  Phorusrhacids have been extinct for millions of years, yet the so-called terror birds just got a bit more frightening. The flightless birds stood up to three meters tall and had hook-beaked heads the size of horse heads. Now a new study has apparently deciphered how the birds used those fearsome skulls—employing a fighting style like that of legendary boxer Muhammad Ali.

• Thursday, August 19th 2010 - 06:05 UTC

  Rockhopper confirms Falklands’ drilling program; shares rebound

  

  After stating that its first well (Ernest) drilled in the southern part of the North Falkland Basin has been declared dry, Rockhopper Exploration (AIM: RKH) was sold down to 265p before rallying sharply to close Wednesday only 2.5p cheaper at 301.25p.

• Tuesday, August 17th 2010 - 09:22 UTC

  Petrobras admits ‘minor’ conservation problems on several oil platforms

  

  Brazil's government managed oil giant Petrobras CEO admitted Monday that minor conservation problems exist on some of the company's platforms in the Campos Basin, off the country's south-eastern coast.

• Tuesday, August 17th 2010 - 09:05 UTC

  On-shore natural gas find could supply 30% of Brazil’s domestic demand

  

  Brazilian oil and gas company OGX said Monday that a new onshore field in the north-eastern state of Maranhao holds up to 15 trillion cubic feet of natural gas.

• Friday, August 13th 2010 - 06:33 UTC

  Brazil halts operations on Petrobras oil platform citing safety reasons

  

  Brazil's oil regulator said on Thursday it halted operations of state oil company Petrobras' (PETR4.SA: Quote) offshore P-33 platform, citing safety concerns. The announcement follows oil workers union claims that the rig was “dangerous”.

• Saturday, August 7th 2010 - 05:59 UTC

  BP sells Colombian operation to local and Canadian companies

  

  Colombian state oil company Ecopetrol S.A. and Canadian firm Talisman have reached an agreement to buy the Colombia operation of BP Plc for 1.75 billion US dollars.

• Friday, August 6th 2010 - 22:20 UTC

  Bolivia’s gas reserves ‘comfortably’ sufficient for the next twenty years

  

  Bolivia’s proven gas reserves stand at 19 trillion cubic feet, which means the country can address domestic and foreign demand comfortably during the next 20 years announced Friday by Energy and Hydrocarbons minister Fernando Vincenti.

• Thursday, August 5th 2010 - 17:28 UTC

  Foster Wheeler awarded engineer contract for Montevideo LNG receiving plant

  

  Foster Wheeler AG (Nasdaq: FWLT) announced Wednesday that its Global Engineering and Construction Group has been awarded an owner’s engineer contract for a new LNG receiving terminal (the “GNL Del Plata” facility) to be built in Uruguay’s capital Montevideo.

• Wednesday, August 4th 2010 - 22:08 UTC

  Venezuela’s oil corporation profits plummet because of “•global capitalist crisis”

  

  State-owned Petroleos de Venezuela SA earnings reached 4.49 billion US dollars in 2009, down from 9.41 billion in 2008, Energy and Petroleum Minister Rafael Ramirez revealed this week. Speaking at PDVSA headquarters in Caracas, he cited the “global capitalist crisis” as a major factor in the sharp fall in net income.