Energy & Oil

Sunday, September 28th 2008 - 21:00 UTC
Brazil announces more oil and gas proven reserves

Brazil's oil and gas government managed corporation Petrobras announced the proven presence of oil in a well south of the Santos Basin, in sandy reservoirs above the salt layer. The discovery confirms the good light oil potential in the shallow water portion of the basin, said Petrobras in a brief release from last Friday.
Sunday, September 28th 2008 - 21:00 UTC
ENAP exploring for coal methane gas in Magallanes

Chile is exploring for methane gas from the abundant coal reserves in the extreme south region of Magallanes, more precisely 80 kilometers to the north of Punta Arenas.
Wednesday, September 24th 2008 - 21:00 UTC
Venezuela anticipates oil sales to China of a million bpd in 2012

China and Venezuela signed on Wednesday in Beijing a wide range of agreements to boost trade, energy cooperation and agriculture and in other fields. The agreements were signed by Chinese Vice Premier Li Kegiang and visiting Venezuelan president Hugo Chavez.
Wednesday, September 24th 2008 - 21:00 UTC
China takes over leading Norwegian offshore drilling co.

China Oilfield Services Limited China's largest integrated oilfield services provider in offshore China, COSL announced this week it had successfully completed the 2.5 billion US dollars acquisition of the Norwegian offshore drilling company Awilco Offshore ASA .
Wednesday, September 24th 2008 - 21:00 UTC
OPEC underlines oil barrel/US dollar “symmetric” link

OPEC President Chakib Khelil said on Wednesday world oil prices were still being influenced by factors such as monetary and currency policy in the United States and speculation rather than market fundamentals.
Tuesday, September 23rd 2008 - 21:00 UTC
New ultra-deepwater drill-ship can reach depth of 40.000 feet

Noble Corporation confirmed its subsidiary, Noble Drilling Holding LLC, has signed contracts for the construction of a new, dynamically positioned, ultra-deepwater, harsh environment Globetrotter class drill-ship with South Korea's STX Heavy Industries and Dutch-based design and construction firm Huisman Equipment.
Monday, September 22nd 2008 - 21:00 UTC
Brazil: ethanol rapidly turning gasoline alternative fuel

Gasoline is rapidly becoming Brazil's alternative fuel as ethanol consumption zooms according to the latest reports from the country's Ministry of Agriculture. The tendency is strongly supported by consumers' demand and Brazil's auto industry.
Monday, September 22nd 2008 - 21:00 UTC
Jittery markets hike oil price which settles at 120 US dollars

Reflecting uncertainties about the US government 700 billion US dollars bail out plan and its consequences on the US dollar, oil prices on Monday jumped briefly 25 US dollars before falling back to 120.97 US dollars a barrel
Friday, September 19th 2008 - 21:00 UTC
Russia will send high level delegation to OPEC meeting

Russia will send a high-level delegation to the OPEC meeting in Algeria on December Energy Minister Sergei Shatko said on Friday.
Wednesday, September 17th 2008 - 21:00 UTC
Canadian company finds crude in northeast Argentina

An oil deposit was discovered in an exploratory well in the northeast Argentina province of Formosa announced the Canadian company Gran Tierra Energy Inc. The Calgary based company said Wednesday it plans long-term production testing on the Proa.x-1 well and will begin commercial oil sales in about a week.