Energy & Oil

• Friday, July 16th 2010 - 07:58 UTC

  Cold wave in Argentina forces shutdowns in gas powered industries

  

  The cold wave in Argentina has killed at least five people, forced the closure of highways and left most of industry short of gas given the soaring residential consumption.

• Thursday, July 15th 2010 - 06:05 UTC

  Venezuela oil reserves could double Saudi Arabia, says US assessment

  

  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 as previously thought.

• Tuesday, July 13th 2010 - 22:01 UTC

  Argos warned by Argentina to abstain from drilling in the Falklands or…

  

  Argos Resources the latest company to announce it will begin oil exploration operations offshore the Falkland Islands was sent a letter by the Argentine embassy in London warning it “to abstain” from such activities otherwise “it will face legal actions”, according to reports in the Buenos Aires press.

• Tuesday, July 13th 2010 - 21:31 UTC

  Deepwater oil rig needed to drill in Falklands’ southern waters, confirms FOGL

  

  Falkland Oil and Gas (FOGL) will press ahead with its drilling program offshore the Falkland Islands despite reporting that its Toroa F61/5-1 exploration well was dry. However FOGL, which is associated with Anglo-Australian mining giant BHP Billiton, said it will work first towards contracting a deepwater rig.

• Tuesday, July 13th 2010 - 06:37 UTC

  Petrobras first tests in the Franco sub-salt field confirm 50.000 bpd

  

  Brazil’s oil regulator ANP said it concluded its first test at the Franco offshore field, which holds the oil reserves that the government may sell state-controlled Petroleo Brasileiro SA, Petrobras, in exchange for new stock.

• Tuesday, July 13th 2010 - 00:52 UTC

  Petrobras contracts global PR in anticipation of its deep sea sub-salt drilling

  

  One of the world's biggest oil producers has sought global PR expertise as it expands a controversial deep sea offshore sub-salt drilling program.

• Monday, July 12th 2010 - 21:45 UTC

  Danes to invest in Latinamerica’s largest wind farm in northern Chile

  

  The world's largest wind turbine company, Denmark’s Vestas, last week announced it will be investing in the Talinay Oriente wind farm project in northern Chile, a project it says will become Latin America's largest wind farm.

• Monday, July 12th 2010 - 21:40 UTC

  First oil drill in south of Falklands ‘disappointing’, but company keeps to program

  

  The first well to be drilled at the south of the Falkland Islands proved to be a disappointment, Falkland Oil and Gas Ltd, FOGL, officially announced to the London Stock Exchange.

• Friday, July 9th 2010 - 03:57 UTC

  Fifth company, Argos plans to drill for oil off the Falkland Islands says FT

  

  A fifth UK company plans to drill for oil off the Falkland Islands after it raises £70m in a London stock market listing, reports the Financial Times. Argos Resources, which holds licences next to the landmark 250m-barrel Falklands’ oil discovery made by peer Rockhopper Exploration in May, hopes to achieve a £200m value on AIM.

• Thursday, July 8th 2010 - 08:06 UTC

  Oil and gas finds in the Magellan basin, extreme south of Chile

  

  Latin American oil and gas exploration and production company GeoPark Holdings (AIM: GPK) revealed this week new gas and oil finds on the Fell block in the extreme south of Chile.