Energy & Oil

• Thursday, May 20th 2010 - 03:03 UTC

  Falklands’ oil discovery potential to be announced in next fifteen days

  

  A British company which recently announced it had struck oil in Falkland Islands waters expects to provide initial estimates of the potential size of the discovery in the coming two weeks.

• Monday, May 17th 2010 - 04:59 UTC

  Strong interest for Peru’s bidding process for 25 oil blocks

  

  Peru resumed the bidding process for more than two-dozen oil blocks, almost two years after a bribery scandal related to contracts awarded to a Norwegian company. The president of state-owned Perupetro, Daniel Saba, said that 25 new blocks will be put up for international public bidding.

• Monday, May 17th 2010 - 01:54 UTC

  Brazil’s energy sector lobbying against review of Itaipú treaty with Paraguay

  

  Brazilian business groups are strongly lobbying members of Congress against a review of a recent agreement reached by President Lula da Silva to treble the money paid to Paraguay for power from the world’s largest operating hydroelectric complex Itaipú, shared by both countries.

• Saturday, May 15th 2010 - 04:16 UTC

  China Signs 23 Billion USD Deal with Nigeria to Build Three Refineries

  

  Nigeria's state-run oil firm Nigerian National Petroleum Corporation and China State Construction Engineering Corporation have signed a 23 billion US dollars deal.

• Saturday, May 15th 2010 - 03:09 UTC

  NZ oil company operating in Chilean Tierra del Fuego strikes gas

  

  An affiliate of New Zealand’s Greymouth oil company, PetroMagallaes announced this week the discovery of hydrocarbons in two prospects in Chilean Tierra del Fuego. The prospects are in Caupolican blocks, belonging to what are known as the Springhill formation.

• Friday, May 14th 2010 - 01:22 UTC

  Indian Sub-Submersible Gas Rig Sinks off the Coast of Venezuela

  

  Aban Offshore (BOM:523204), India’s largest offshore drilling and oil field services provider, suffered a major setback on Thursday, when its gas platform Pearl sunk off the coast of Venezuela. This was one of Aban’s biggest money spinning rig earning 358,000 US dollars a day.

• Thursday, May 13th 2010 - 10:38 UTC

  Brazil Announces Discovery of Field with 4.5 Billion Barrels of Light Oil

  

  Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) has revealed that the 2-ANP-1-RJS well, dubbed Franco, is estimated to hold 4.5 billion barrels of recoverable light oil.

• Wednesday, May 12th 2010 - 18:44 UTC

  Colombia the Rising Star of the Oil Industry in South America

  

  Colombian Oil Company Ecopetrol (NYSE:EC) said this week it broke an 11-year-old export record in April, selling 403,510 barrels per day (bpd) of crude oil and refined products to foreign clients.

• Monday, May 10th 2010 - 18:44 UTC

  Falklands’ Oil Discovery Announcement Has Rockhopper Shares up 32% Monday

  

  Shares in Rockhopper Exploration (LON:RKH) soared by 32% on Monday morning, after the latest results of its Sea Lion oil discovery in the Falkland Islands suggested a good quality reservoir.

• Saturday, May 8th 2010 - 06:33 UTC

  Petrobras Sets Monthly Record Oil Production in April: 2.033 Million bpd

  

  Brazilian government managed oil and gas corporation Petrobras (SAO:PETR3) set a monthly record for oil production in April with 2.033 million barrels per day topping the previous record of 2.004 million bpd from September 2009, the company said Friday.