Energy & Oil

Thursday, July 2nd 2009 - 12:35 UTC
YPF/Petrobras/GALP to explore for oil in Uruguayan waters

A consortium made up of YPF/Repsol, Petrobras Uruguay and GALP from Portugal has won a bid to explore for oil in two offshore blocks near the coast of Uruguay, according to industry reports late Wednesday.
Saturday, June 27th 2009 - 10:42 UTC
Paraguayan president insists in recovering Itaipu “energy sovereignty”

President Fernando Lugo reiterated Friday that Paraguay did not yield and will not yield “energy sovereignty” claims for power generated from South America’s largest hydroelectric dam Itaipu which it shares with neighbouring Brazil.
Thursday, June 25th 2009 - 17:18 UTC
Wind farm energy for Chile’s giant state owned copper company

Chilean state-owned copper company CODELCO Norte presented this week plans for a 700 million US dollars wind farm to the National Environmental Commission (CONAMA).
Thursday, June 25th 2009 - 17:16 UTC
Brazilian pre-salt reserves extraction costs in the range of 40 USD per barrel

Brazilian government managed Petrobras said this week that production from the massive oil fields deep below the ocean floor off Brazil’s Atlantic coast was viable at 40 US dollars for a barrel for benchmark Brent crude.
Thursday, June 25th 2009 - 10:06 UTC
Canadian oil company begins exploration drilling in Patagonia’s San Jorge basin

Canada’s Crown Point Ventures Ltd announced that in early to mid July it expects to be commencing the drilling of a three well exploration drilling program at El Valle in the San Jorge basin of Argentine Patagonia.
Wednesday, June 24th 2009 - 08:36 UTC
Falklands oil basin open to all companies including from Argentina

The Falkland Islands would welcome more interaction with Argentine oil and gas companies as the search for what could be large offshore oil and gas reserves heats up, Falkland Islands director of minerals and agriculture Phyl Rendell told BNamericas.
Tuesday, June 23rd 2009 - 11:54 UTC
Itaipu dispute postpones Mercosur presidential summit in Paraguay

The Mercosur presidential summit has been postponed for July 24 and 25 it was reported Monday from Asunción, Paraguay, the host of the event. Three of the four full members of the trade group, Argentina, Brazil and Uruguay, proposed the change from the original July 3 and 4 arguing political and electoral reasons.
Tuesday, June 23rd 2009 - 11:31 UTC
New legislation envisions Brazil as oil resources and technological giant

The Brazilian Executive will present a bill aimed at increasing government control of offshore oil reserves to Congress in July before an annual legislative holiday. However the existing oil exploration rights which have been sold under the current auction system will not be changed with the new proposals.
Friday, June 19th 2009 - 14:00 UTC
Brazil drafting legislation to create new state-owned oil company

Brazil’s government is considering changes to the country’s oil law that would open the way for the creation of a separate state owned company to manage development of the sub-salt and deep sea hydrocarbons resources.
Wednesday, June 17th 2009 - 12:10 UTC
Oil and gas exploration off Comodoro Rivadavia begins August

Argentine oil and gas company Pan American Energy will invest 80 million US dollars in the first phase of an offshore exploration program in the San Jorge Gulf in Patagonia, next to Comodoro Rivadavia, the company said Tuesday in a statement.