Energy & Oil

• Friday, February 5th 2010 - 04:39 UTC

  More companies line up to join the Falklands’ oil rush

  

  While there have been strong protests from the Argentine Government about the drilling program due to start in Falkland Islands waters this month, it has not deterred other companies wanting to join Desire Petroleum, Rockhopper Exploration and Falklands Oil and Gas in the search for oil.

• Wednesday, February 3rd 2010 - 12:20 UTC

  Green light in Brazil for controversial dam in Amazon jungle

  

  A controversial project to build a massive hydroelectric dam in the heart of the Amazon jungle has received the go-ahead from Brazil’s environmental protection agency, despite objections from environmentalists and indigenous people who live in the area.

• Tuesday, February 2nd 2010 - 12:54 UTC

  FOGL and BHP Billiton planning two exploratory wells in Falklands’ waters

  

  Falkland Oil & Gas Ltd., a United Kingdom based explorer in the South Atlantic, plans to start drilling a well southeast of the Falkland Islands in April reports Bloomberg.

• Tuesday, February 2nd 2010 - 04:34 UTC

  Shell and Brazilian company join to create giant ethanol producer and distributor

  

  Brazil's Cosan, the world's largest ethanol and sugar processor, said announced Monday it signed an agreement to merge its ethanol and fuels distribution business in the country with Royal Dutch Shell in a deal valued as much as 12 billion US dollars.

• Friday, January 29th 2010 - 01:54 UTC

  Canada confident of its oil potential development in spite of Venezuela

  

  An assessment that Venezuela sits on one of the largest oil fields on record does not threaten the potential of Canadian reserve development, analysts said.

• Monday, January 25th 2010 - 14:58 UTC

  Venezuela could hold world’s largest oil reserves, says US Geological Survey

  

  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 petroleum as previously thought.
  The geologists estimate the area could yield more than 500 billion barrels of crude oil.

• Friday, January 22nd 2010 - 14:49 UTC

  Repsol forced to reassess its Bolivian hydrocarbons reserves

  

  Oil company Repsol YPF is studying the impact on its hydrocarbon reserves accounting as a consequence of a change in Bolivian law, but has not made a decision on whether to lower its reserves, a spokesman for Spanish firm confirmed this week in Madrid.

• Friday, January 22nd 2010 - 04:32 UTC

  First Seaweed-Based Biofuel Plant Goes Ahead In Chile

  

  The ugly swarms of algae that plague Chile's beaches may be an alternative energy blessing in disguise. Chilean economic development corporation (CORFO) announced an investment of 7 million US dollars towards a seaweed-based bio-ethanol project spearheaded by Chile and U.S. scientists.

• Thursday, January 21st 2010 - 12:12 UTC

  BHP Billiton confirms oil exploration commitment in Falklands’ waters

  

  BHP Billiton Ltd., Australia’s biggest oil and gas producer, boosted its forecast for petroleum exploration spending by 33% because of an increase in drilling in the US Gulf of Mexico and offshore Australia.

• Thursday, January 21st 2010 - 06:46 UTC

  Brazil inaugurates first commercial ethanol-fuelled power plant

  

  Brazil inaugurated this week the world’s first ethanol-fuelled power plant in the state of Minas Gerais. The flex-fuel turbine, which was converted from running solely on natural gas, began operating on December 31 and is currently in its optimization and testing phase.