Energy & Oil

• Sunday, October 14th 2007 - 20:00 UTC

  Global tension, low stocks push oil to record price

  Oil prices reached this week another record surging past 84 US dollars a barrel for the first time. US sweet, light crude jumped as much as 97 cents to trade briefly at $84.05 a barrel in New York on supply fears before falling back to $83.69.

• Friday, October 12th 2007 - 21:00 UTC

  Seven companies tender for Magallanes oil blocks

  

  Seven corporations from United States, Canada, New Zealand, Egypt and Russia presented tenders for the oil and gas exploration blocks in Magallanes Region, extreme south of Chile.

• Friday, October 12th 2007 - 21:00 UTC

  China strikes huge gas deposit in northwest region

  

  China's largest oil and gas company PetroChina has discovered a major gas field in the nation's northwest Xinjiang region, state media reported this week. The field, known as Dabei III, boasts an estimated reserve of up to 130 billion cubic meters reports the China Daily newspaper.

• Tuesday, October 9th 2007 - 21:00 UTC

  Billiton, Hess and Repsol YPF strike oil in deepwater Gulf of Mexico

  

  BHP Billiton announced Tuesday first oil production from the Genghis Khan development, located in the deepwater Gulf of Mexico, approximately 192 kilometers off the coast of Louisiana. The Company, with co-venturers Hess and Repsol YPF, acquired its interest in Genghis Khan in February 2007 for US$1.33 billion ($583 million net to BHP Billiton).

• Thursday, October 4th 2007 - 21:00 UTC

  Australia's Billiton shrugs off Argentine legal actions threats

  Resources giant BHP Billiton appears to have shrugged off the threat of legal sanctions by Argentina following the decision to acquire oil and gas exploration acreage off the disputed Falkland Islands according to reports in the Australian press

• Thursday, October 4th 2007 - 21:00 UTC

  New phone service and broadband for Falklands Camp

  

  Falkland Islands Camp residents will have access to a new and upgraded telephone service, offering broadband, from mid-late 2009, according to a Thursday joint release in Stanley from the Falklands government and Cable and Wireless South Atlantic Ltd.

• Wednesday, October 3rd 2007 - 21:00 UTC

  Setback for Argentina in international energy dispute

  The International Centre for Settlement of Investment Disputes (ICSID) in Washington, D.C., has awarded Sempra Energy approximately 172 million US dollars, including interest, to settle a 2002 dispute involving the company's 43% ownership in two Argentine natural gas holding companies, Sodigas Pampeana and Sodigas Sur.

• Wednesday, October 3rd 2007 - 21:00 UTC

  Falklands' new oil partner: global leader in resources

  

  BHP Billiton which this week announced it had acquired an interest in 14 exploration and production licenses offshore the Falkland Islands is a leading global leader in the diversified resources industry with an annual turnover of 47.5 billion US dollars in fiscal 2007.

• Tuesday, October 2nd 2007 - 21:00 UTC

  Desire Petroleum optimistc about oil rig availability

  

  Speaking to local shareholders in Desire Petroleum plc at a meeting in Stanley on Monday evening, Chairman Dr Colin Phipps said that he was more optimistic than he had been for a long time about the company's prospects of finding oil in commercial quantities in the North Falkland Basin.

• Tuesday, October 2nd 2007 - 21:00 UTC

  FOGL farm-out agreement with giant BHP Billiton

  

  Falkland Oil and Gas Limited (“FOGL”) is pleased to announce that it has entered into a farm-out agreement with a subsidiary of BHP Billiton, the world's largest diversified resources company, over FOGL's 2002 and 2004 licences to the South and East of the Falkland Islands.