Energy & Oil

• Wednesday, July 29th 2009 - 16:18 UTC

  Falklands: EIAs to ExCo as drilling preparation continues

  

  WORK towards a hydrocarbon drilling programme in the Falkland Islands continues to progress with the news that Environmental Impact Assessments (EIAs) are soon to be submitted by Desire Petroleum and Rockhopper Exploration to Executive Council for approval.

• Wednesday, July 29th 2009 - 12:18 UTC

  Dry wells controversy erupts in Brazil’s sub-salt basins drilling

  

  Brazilian government managed oil corporation Petrobras said late Tuesday in an official release that it has drilled eleven wells in the promising Santos Basin region, with all of the wells testing positive for oil or natural gas.

• Tuesday, July 28th 2009 - 07:12 UTC

  Less Bolivian gas production as Brazilian demand falls

  

  Brazil has reduced its demand for Bolivian natural gas to 24 million cubic meters per day, prompting a drop in production, according to reports in the La Paz press.

• Monday, July 27th 2009 - 12:35 UTC

  Brazil agrees to treble payment for Paraguay’s energy from Itaipú

  

  Brazil and Paraguay agreed over the weekend on an amicable solution to a decade long dispute over a hydro-electric dam on their shared border, with Brazil agreeing to triple the amount it pays its neighbour for energy.

• Tuesday, July 21st 2009 - 10:06 UTC

  Brazil accepts discussions on Itaipú surplus power distribution and prices

  

  Brazil will allow Paraguay to openly sell to Brazilian energy distributing companies its surplus share of the power generated by the Itaipú dam, the largest of its kind in the Americas.

• Saturday, July 18th 2009 - 15:25 UTC

  YPF begins next South Atlantic drilling round in Malvinas basin

  

  In the coming two weeks the Spanish-Argentine YPF energy corporation should have concluded its first round of seven exploratory wells in the South Atlantic, and towards the end of the year, or beginning of 2010, will start drilling in deeper waters in the Malvinas basin, according to company sources.

• Friday, July 17th 2009 - 07:57 UTC

  More government funds for Petrobras to develop oil reserves

  

  Brazil's government economic and social development bank BNDES will lend 25 billion Reais (12.8 billion US dollars) to Petrobras denominated in local Treasury notes, financial newspaper Valor Economico reported on Thursday.

• Wednesday, July 15th 2009 - 07:55 UTC

  Exxon-Mobil partners with biotech company to develop fuels from algae

  

  The world’s largest publicly traded oil company Exxon Mobil said Tuesday it will make its first major investment in greenhouse gas reducing bio-fuels in a 600 million US dollars partnership with biotech company Synthetic Genomics Inc. to develop fuels from algae. The US corporation will be joining other oil giants (Shell and BP) that have been investing in bio-fuels.

• Tuesday, July 14th 2009 - 11:01 UTC

  Argentine corporations expect US dollar to reach 4.30/4.50 pesos in 12 months

  

  A majority of Argentine entrepreneurs believes the local currency will suffer a significant depreciation against the US dollar in the next twelve months according to a poll among 137 leading corporations.

• Friday, July 10th 2009 - 12:01 UTC

  Oil giant Shell world’s largest company ahead of Wall-Mart and Exxon

  

  Oil giant Royal Dutch Shell has replaced US retail group Wal-Mart as the world's largest company, the latest annual survey by Fortune magazine says.