Energy & Oil

• Tuesday, February 8th 2011 - 21:17 UTC

  Ensco becomes the world’s second largest off-shore drilling company

  

  UK based oil drilling services company Ensco PLC said Monday it has agreed to buy US rival Pride International Inc. in a 7.3 billion US dollars cash and stock deal that will create the world's second largest off-shore drilling company.

• Tuesday, February 8th 2011 - 05:08 UTC

  Petrobras third largest oil company on market capitalization

  

  Based on market capitalization Brazilian government managed oil and gas company Petrobras ranked third worldwide according to the prestigious PFC Energy 50 list of the world's biggest energy companies.

• Friday, February 4th 2011 - 21:11 UTC

  Massive blackout in Brazil exposes vulnerability of energy infrastructure

  

  A widespread blackout hit at eight states in Brazil's northeast Friday exposing energy infrastructure vulnerabilities of the nation that will host an Olympics and a World Cup.

• Thursday, February 3rd 2011 - 23:02 UTC

  Falklands’ “Ocean Guardian” oil rig operational capabilities upgraded

  

  Oilfield equipment specialist Titan Torque Services has secured a six-figure contract to provide support services for exploration work off the Falkland Islands in the South Atlantic. The company signed a one-year deal with well management company AGR Petroleum Services to provide torquing facilities in support drilling rig “Ocean Guardian” operations.

• Thursday, February 3rd 2011 - 01:47 UTC

  Major scientific feat: reactor turns solar energy into storable hydrocarbon fuel

  

  Researchers have unveiled a prototype reactor which mimics plant life, turning the Sun’s energy to make hydrocarbon fuel, according to an article published in the latest edition of Science.

• Wednesday, February 2nd 2011 - 18:06 UTC

  In spite of 100 years of production, Venezuela claims world’s largest proven oil reserves

  

  Venezuela holds 297 billion barrels of proven oil reserves, most of it in tar sands but sufficient to be ahead of Saudi Arabia considered by world experts the number one country in reserves.

• Wednesday, February 2nd 2011 - 14:27 UTC

  Brazilian oil output reaches 2.18 million bpd in December; 9% above a year ago

  

  Brazil’s production of oil and natural gas in December 2010 surpassed the previous one-month record, according to a release from the ANP regulatory agency. December 2010 oil output of 2.18 million barrels per day represents a 4.4% increase over November and was 9.1% higher than in December 2009.

• Wednesday, February 2nd 2011 - 06:30 UTC

  Coal mine project in Chilean Patagonia triggers Facebook debate

  

  Mina Invierno, a major coal mine project to be located in Chilean Patagonia, has sparked new controversy in the Magallanes Region. The coal mine will be located on Isla Riesco, Chile’s fourth biggest island, just 80 miles from the region’s capital of Punta Arenas.

• Tuesday, February 1st 2011 - 17:53 UTC

  Falklands’ Desire with sufficient funds for oil drilling round and 3D surveying

  

  Falkland Islands Desire Petroleum announced Tuesday it has sufficient funds to complete the programmed round of six well drillings, additional 3D seismic surveying and demobilization costs at the end of the campaign.

• Tuesday, February 1st 2011 - 01:14 UTC

  UK is world leader in offshore wind energy production and research

  

  Latest offshore wind statistics released by the European Wind Energy Association (EWEA) confirm that the UK is the European and world leader in the sector, with 1,341MW installed.