Energy & Oil

Saturday, February 13th 2010 - 07:25 UTC
Petrobras finds 25 million barrels oil reserve in shallow waters off Rio

Brazilian government managed energy giant Petrobras announced this week that it has found oil at a well located in shallow waters of the Campos Basin. The find was made in waters just 200 meters deep and is near massive deposits in deeper areas of Campos, which is located off the coast of Rio de Janeiro state and is the basin where 80% of Brazil’s oil is extracted.
Friday, February 12th 2010 - 19:37 UTC
Falkand Islands: Seismic contractor moves in on unlicensed acreage

AS the Ocean Guardian oil rig is scheduled to arrive in Falklands waters next week, a UK-registered start-up seismic contractor is aiming to carry out a speculative 6,000km multi-client 2D shoot on unlicensed acreage in Falklands waters.
Friday, February 12th 2010 - 04:38 UTC
Petrobras signs agreement to begin oil exploration in Uruguay’s continental shelf

Brazil's state-managed oil company Petrobras signed this week an agreement with the Uruguayan state oil company Ancap to explore and produce oil and natural gas on Uruguay's continental shelf.
Thursday, February 11th 2010 - 18:08 UTC
Argentina blocks vessel involved in Falklands operations

Argentina blocked Wednesday a ship from leaving a Techint Group plant after it traveled to the Falkland Islands without government permission, the Argentine Foreign Office said. The “Thor Leader” is docked in Techint’s Campana plant carrying a cargo of 7.099 tons seamless pipes, the government office said in a statement.
Tuesday, February 9th 2010 - 23:53 UTC
Norwegian company contracted for major Falklands’ drilling program

Norway’s AGR Petroleum Services (AGR) will begin a significant drilling campaign, valued at more than £2 million, off the Falklands Islands this month on behalf of two operators, announced the company in Oslo.
Tuesday, February 9th 2010 - 04:06 UTC
Chavez ready “any time” to declare “electricity emergency”

Venezuela is facing the worst drought in a century and needs to be placed under an “electricity emergency,” President Hugo Chavez said Monday in his new, “any-time” radio program “Suddenly With Chavez.”
Monday, February 8th 2010 - 02:14 UTC
Argentina announces completion of third nuclear plant by end of the year

Argentina will complete work on its third nuclear power plant by the end of the year, Planning Minister Julio De Vido said at a press conference. Last April, De Vido said work on the plant, called Atucha II, wouldn't be finished until the first or second quarter of 2011.
Saturday, February 6th 2010 - 01:58 UTC
Falklands say oil development is to ensure sustainable economic future

The Falkland Islands government said that hydrocarbons exploration is an important element to achieve a sustainable economic future for the Islands and quoted from British PM Gordon Brown New Year message when he said that there are “no doubts about UK sovereignty over the Falklands ” and the principle of self determination.
Friday, February 5th 2010 - 04:53 UTC
Argentina threatens UK and Falklands oil companies with legal actions

Argentina reiterated on Thursday warnings to the United Kingdom over the “illegality” and juridical consequences of having awarded oil exploration licences in the Falkland Islands, under British control but which Argentina claims as part of its territory.
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.