Energy & Oil

• Tuesday, January 18th 2011 - 18:32 UTC

  YPF To Begin Offshore Exploration In Tierra del Fuego

  

  A spokesperson for the Argentine oil firm YPF informed that exploration work is scheduled to begin this quarter on the coast of Tierra del Fuego, a province located off the southernmost tip of the South American mainland.

• Tuesday, January 18th 2011 - 16:07 UTC

  70% of Uruguay's summer energy needs may come from wind farms by 2015, says state power company

  

  Announcing the preliminary results of a call for tenders to supply wind energy, UTE, Uruguay's state power company, announced that 21 companies and consortia had presented valid offers last week.

• Tuesday, January 18th 2011 - 01:15 UTC

  Chile: “Zero readjustment” is not a viable option to resolve conflict due to gas price increase

  

  Energy and Mining Minister Laurence Golborne insisted on the last proposal made by the Chilean government to stop manifestations which would imply a 3% increase in hydrocarbon.

• Monday, January 17th 2011 - 23:22 UTC

  Falklands: FOGL prospects show promise, says broker

  

  FALKLAND Oil and Gas Limited has the potential to offer investors returns of 130 per cent in the medium term, according to the Jefferies brokerage.

• Monday, January 17th 2011 - 17:32 UTC

  Venezuela's Oil Reserves Surpass Those of Saudi Arabia

  

  Venezuela's president Hugo Chavez announced that his country's oil reserves total 217 barrels, topping Saudi Arabia's and making them the largest in the world.

• Saturday, January 15th 2011 - 17:33 UTC

  Strike easing in Magallanes, Chile

  

  THE announcement today by the organisers of the general strike in the Magallanes Region of Chile that there will be some “flexibility” in the road blocks currently in place outside the city of Punta Arenas will no doubt cause some easing of the pressure on the Chilean President to find a solution.

• Thursday, January 6th 2011 - 20:09 UTC

  Scarce rainfall forces Uruguay to buy power from Argentina

  

  Uruguay facing a severe drought and insufficient rainfall began this week to receive electricity from the Argentine power grid. Uruguay’s electricity is mainly hydroelectric and in the country’s main dams the water level has been falling dramatically.

• Thursday, January 6th 2011 - 12:46 UTC

  Bolivia back steps and offers new deal to attract foreign oil companies

  

  President Evo Morales’ government has offered to reimburse 100% of the cost of successful exploratory drilling in Bolivia by private oil and natural gas companies, state-owned energy company YPFB announced this week.

• Tuesday, January 4th 2011 - 07:43 UTC

  Desire Petroleun plc: Dawn Well Operational Update

  

  Desire Petroleum plc (AIM:DES) the company wholly focussed on the North Falkland Basin, advises that the 25/5-1 well on the Dawn/Jacinta prospect has reached a total depth of 1,697 metres in pre-rift sediments.

• Thursday, December 30th 2010 - 08:12 UTC

  Lula da Silva has his own oil field according to Petrobras

  

  Brazilian state-controlled energy giant Petrobras on Wednesday confirmed the commercial viability of two massive offshore oil and gas fields located deep beneath the ocean floor, announcing that one of them will now be known as “Lula.”