Energy & Oil

• Wednesday, April 7th 2010 - 01:09 UTC

  Falklands’ Desire describes Liz well as “promising”; confirms drilling campaign

  

  Following the announcement of a gas discovery in the North Falklands Basin, Desire's Chairman Stephen Phipps describes the ‘The Liz’ well as, “complex and highly encouraging” and sufficiently promising to continue with the drilling campaign in Falklands’ waters.

• Monday, April 5th 2010 - 23:57 UTC

  Oil prices reach an 18-month high following on US encouraging data

  

  Oil prices have reached an 18-month high as analysts predict the recovery of the US economy and a rising demand for fuel. Crude oil for May delivery hit a high of 85.89 USD a barrel at one point in New York trading - the dearest since the peak of the financial crisis in October 2008.

• Friday, April 2nd 2010 - 00:04 UTC

  Desire Petroleum plc - Drilling Update

  

  Desire Petroleum Plc (AIM:DES) the oil and gas exploration company, wholly focused on the North Falkland Basin, wishes to provide a further drilling update on the Liz 14/19-1 Exploration well, where wireline operations are continuing.

• Thursday, April 1st 2010 - 05:53 UTC

  Falkland Islands: Investors lose fortunes as oil shares plummet

  

  LOCAL investors – reputedly one in ten of the population – saw the value of their oil shares plummet this week as Desire Petroleum confirmed media speculation that the first oil found by the Ocean Guardian rig was of poor quality.

• Wednesday, March 31st 2010 - 18:24 UTC

  High-quality oil in once guerrilla infested Colombian jungle

  

  Petrominerales Ltd., mostly owned by Canadian companies said Monday that an oil well drilled in Colombia has produced a prolific 15,600 barrels of high-quality crude per day, following similarly strong results from two other wells on its Candelilla discovery.

• Tuesday, March 30th 2010 - 04:48 UTC

  Chavez announces the discovery of a “super well” of natural gas

  

  Venezuelan President Hugo Chavez announced the discovery of a “super well” that shows an offshore field holds almost twice as much natural gas as originally estimated.

• Monday, March 29th 2010 - 18:40 UTC

  Falklands’ Desire shares slump following disappointing first well

  

  Shares in UK-Falklands Desire Petroleum slumped Monday as the company officially confirmed a disappointing result from the first drilling in its exploration campaign in the North Falkland Basin.

• Monday, March 29th 2010 - 18:30 UTC

  Solar power project to refine Chilean copper

  

  Codelco, Chile’s nationally-owned copper company and one of the world’s largest, announced last week a plan to outfit some of their mines with solar power over the next few years, a move expected to save millions of dollars in energy costs.

• Sunday, March 28th 2010 - 04:56 UTC

  Oil in Falklands but not in commercial volumes, reports The Times

  

  The first well drilled off the Falkland Islands in 12 years has struck oil — but not enough for a commercial well, according to a report from the Sunday edition of The Times.

• Saturday, March 27th 2010 - 06:40 UTC

  Argentina and Bolivia sign expansion of natural gas agreement

  

  Argentine President Cristina Fernández de Kirchner met Friday with her Bolivian counterpart Evo Morales and signed a deal that expands until 2026 the current gas-sharing bilateral agreement, which is expected to supply the Argentine Northeast.