Energy & Oil

Tuesday, October 27th 2009 - 07:42 UTC
ING group to split banking and life insurance operations

Dutch ING Group on Monday announced that it will move towards a complete separation of its banking and life insurance operations. ING which was bailed out by the Dutch government said it would dispose of its insurance operations over the next four years and raising 7.5 billion Euros in a rights issue.
Tuesday, October 27th 2009 - 07:27 UTC
Rockhopper raises £ 50 million to finance summer drilling offshore Falklands

Rockhopper Exploration, the oil and gas explorer company working in the North Falkland Basin has raised £50 million in a 54p per share placing with institutional investors.
Monday, October 26th 2009 - 12:51 UTC
Brazil to increase diesel bio-fuel content to 5% next January

Brazil will raise the bio-fuel content of its diesel to 5% up from 4% previously, after President Lula da Silva approved the proposal on Friday.
Saturday, October 24th 2009 - 07:19 UTC
Paraguayan congress approves Itaipú treaty with Brazil

The Paraguayan Senate approved by an ample majority the agreement with Brazil which represents a higher financial compensation for Paraguay from Itaipú, the world’s largest operational hydroelectric dam, a long standing claim which was addressed in several summits between presidents Lula da Silva and Fernando Lugo.
Saturday, October 24th 2009 - 05:54 UTC
Petrobras sells 4 billion US dollars in 2020 and 2040 bonds

Brazilian oil giant Petrobras on Friday launched 2.5 billion US dollars of 2020 bonds and 1.5 billion USD of 2040 bonds, in what might be the largest ever sale of corporate debt by a Brazilian company.
Friday, October 23rd 2009 - 08:38 UTC
Uruguay: risk contract with US company to explore for natural gas onshore

Uruguay signed on Friday the first risk contract for the exploration of hydrocarbons in the north of the country, the first ever of its kind. US company Schuepbach Energy from Dallas will be looking for possible traces of natural gas in lutite sedimentary rocks during a two year period in an area of 10.000 square kilometres.
Friday, October 23rd 2009 - 08:27 UTC
Offshore oil exploration in Uruguay to begin next January

Brazil's government managed oil and gas corporation Petrobras and Repsol-YPF have been awarded a contract to explore for natural gas and oil off Uruguay's coast announced the country’s oil firm Ancap.
Thursday, October 22nd 2009 - 00:54 UTC
Desire has raised sufficient funds to ensure Falklands’ oil drilling campaign

Desire Petroleum, the oil and gas exploration company focused on the North Basin of the Falkland Islands announced Wednesday it has conditionally placed 60 million new ordinary shares of 1p each at an issue price of 70p per share, thereby raising £42 million (68 million US dollars) before expenses.
Tuesday, October 20th 2009 - 11:51 UTC
New 2009 high for oil while US dollar keeps sliding

The price of oil has reached a new high for 2009, continuing its recent rise on the back of the weak US dollar and strong US company results. US crude settled up $1.08 at $79.61 in New York trading.
Tuesday, October 20th 2009 - 07:51 UTC
Petrobras in new oil and gas output record prepares to drill sub-salt deposits

Brazil's government managed oil and gas company Petrobras said on Monday domestic oil output increased 1.2% in September, compared with August, to a record high as it completed platform maintenance and boosted output at some wells. The new record is 2 million bpd from 1.98 million bpd in August.