Energy & Oil

• Thursday, July 1st 2010 - 07:26 UTC

  Lula da Silva signs bill for the capitalization of Petrobras

  

  The bill governing the capitalization of Brazilian energy giant Petrobras was approved Wednesday by President Lula da Silva. It is the first step to establish the new regulatory framework for exploiting crude oil under the pre-salt layer of the continental seabed of Brazil.

• Thursday, July 1st 2010 - 07:08 UTC

  Argentina prepares to begin drilling in Malvinas basin in second half of 2010

  

  Towards the end of the year Argentina’s YPF in association with Pan American Energy and Petrobras will begin exploring for oil in the Malvinas basin, following the contract for an oil rig which has been signed, according to oil industry sources in Buenos Aires.

• Wednesday, June 30th 2010 - 06:22 UTC

  Crucial natural gas pipeline opens in Patagonia to help energy short Argentina

  

  Argentina will inaugurate Wednesday a key new pipeline bringing natural gas from Tierra del Fuego Province to the neighboring province of Santa Cruz. The Strait of Magellan pipeline will initially transfer 5 million cubic meters a day of gas from Cabo Espiritu Santo in Tierra del Fuego Province to Cabo Virgenes in Santa Cruz.

• Wednesday, June 30th 2010 - 06:18 UTC

  Shell confirms oil discovery in pre-salt drilling at Campos Basin

  

  Royal Dutch Shell Brazil discovered oil in the Campos Basin's pre-salt region, the company said Tuesday. In a statement, Shell Brazil said it had discovered oil in the 3-SHEL-22-ESS well at the Nautilus field, part of the Parque das Conchas development that went on-stream in July 2009.

• Saturday, June 26th 2010 - 04:55 UTC

  Leading wind farm company begins operations in Uruguay

  

  An Argentine multinational company dedicated to providing solutions in the field of alternative energy sources will open a Wind Farm Service Centre in Uruguay. IMPSA is considered a leader in wind power investment and generation in Latinamerica.

• Friday, June 25th 2010 - 05:38 UTC

  Venezuela plans to nationalize a fleet of oil rigs from US corporation

  

  Venezuela will nationalize a fleet of oil rigs belonging to US Company Helmerich and Payne, the latest takeover in a push to XXI century Socialism announced President Hugo Chávez as he struggles with lower oil output and a recession.

• Friday, June 25th 2010 - 05:33 UTC

  First shipment of Peruvian liquefied natural gas heads for Mexico

  

  Peruvian natural gas was exported for the first time this week from the recently inaugurated Pampa Melchorita plant, to the south of Lima. The LNG was delivered by Spain’s Repsol onto the Barcelona Knutsen Tanker and dispatched to Mexico.

• Friday, June 25th 2010 - 05:22 UTC

  Petrobras confirms high quality oil in latest off-shore discovery

  

  Brazil’s government controlled oil and gas corporation Petrobras said its seventh well in the offshore Tupi field confirmed the potential of light oil in pre- salt reserves. The 3-BRSA-821-RJS well, known as Tupi Alto, is about 275 kilometers off the coast of Rio de Janeiro state, Petrobras confirmed Thursday in a regulatory filing.

• Wednesday, June 23rd 2010 - 04:17 UTC

  Argentine congress to vote bill discriminating companies working in the Falklands

  

  Argentina’s Lower House issued on Tuesday a majority opinion, without dissent, on the bill that contemplates sanctions for companies that operate in Argentina and that wish to participate or are involved in oil activities in the Falklands/Malvinas Islands area under British administration.

• Tuesday, June 22nd 2010 - 04:43 UTC

  Petrobras plans to invest 224 billion USD and double production to 5.4 million bpd

  

  Brazil's state-run oil company announced Monday it will invest 224 billion US dollars through 2014 and double production by 2020. About 95% of that will be invested in Brazil.