Energy & Oil

• Saturday, February 27th 2010 - 08:18 UTC

  Petrobras announces two discoveries with 65 million barrels potential

  

  Brazilian government managed energy firm Petrobras announced this week it had made two separate discoveries of oil in the Campos Basin near Brazil's coast with recoverable reserves of 40 million and 25 million barrels.

• Friday, February 26th 2010 - 19:28 UTC

  Falkland Islands: Desire chief says it’s boom or bust as drilling begins

  

  FOUR days into a drilling operation that has captured the attention of the world’s media, Desire Petroleum’s Operations Director Bob Lyons conceded: “This is it: we’re a one trick pony. It’ll either be successful or it won’t. It is very simple.”

• Friday, February 26th 2010 - 06:50 UTC

  Falklands’ oil companies could be takeover targets, says financial report

  

  United Kingdom oil and gas companies drilling near the Falklands Islands may become takeover targets this year, Deloitte & Touche LLP said in a report released Thursday in London.

• Thursday, February 25th 2010 - 23:17 UTC

  Repsol-YPF to explore for oil in Malvinas waters at the end of 2010

  

  Spanish-Argentine Oil Company Repsol-YPF announced Thursday that it will drill for oil in an area near the Falkland Islands beginning next November /December.

• Tuesday, February 23rd 2010 - 22:21 UTC

  Successful testing and marketing of new oil wells in extreme south of Chile

  

  Latin American oil and gas firm GeoPark Holdings Ltd announced this week it had successfully tested two new oil wells on the Fell Block, Springfield formation, Magallanes basin in the extreme south of Chile, bordering Argentina and the Atlantic access of the Magellan Strait.

• Thursday, February 18th 2010 - 21:56 UTC

  Falkland Islands’s Government says oil drilling round will commence as planned next week

  

  The Falkland Islands reaffirmed its right to develop a hydrocarbons industry and anticipated that in spite of disruptive measures from Argentina the oil drilling round will commence as planned early next week, “weather permitting”.

• Wednesday, February 17th 2010 - 23:36 UTC

  Wind turbines to supply 40% of Falklands’ power

  

  Annual wind power contribution in the Falkland Islands is set to rise to 40% of total energy generated with the installation of three new wind turbines, which started going online on 15 February. The installation of the first three wind turbines in 2007 has resulted in the displacement of 26% of annual fuel consumption and the aim with the three new turbines is to reach 40% fuel displacement.

• Wednesday, February 17th 2010 - 17:01 UTC

  Falklands drilling will go ahead despite Argentine shipping movement ‘decree’

  

  DRILLING in Falklands waters will go ahead as planned despite an Argentine decree aimed at handicapping shipping movement between the Islands and South America. From London British Foreign and Commonwealth Minister Chris Bryant reiterated that “we have no doubt about our sovereignty over the Falkland Islands and we're clear that the Falkland Islands Government is entitled to develop a hydrocarbons industry within its waters”.

• Wednesday, February 17th 2010 - 02:58 UTC

  Power strapped Venezuela rejects Colombian supply offer

  

  President Hugo Chavez's government said it is not interested in buying electricity from neighbouring Colombia despite Venezuela's struggles with severe energy shortages.

• Wednesday, February 17th 2010 - 02:05 UTC

  UK stern reply to Argentine intention of controlling Falklands’ sea trade

  

  The Argentine government’s announcement on Tuesday that all cargo navigating between Argentina and Falklands/Malvinas Islands “will require previous authorization” received a quick and energetic response from the British government through its embassy in Buenos Aires.