Uruguay state-run oil and gas company ANCAP announced the discovery of source rock which might contain underground shale oil or natural gas deposits.
Mining and Energy Minister Laurence Golborne met with the Citizens’ Assembly of Magallanes Region (ACM) (extreme south of Chile) after the first of a series of meetings intended to resolve the Magallanes’ gas subsidy controversy.
Bolivia's state-owned oil company YPF Bolivianos said this week that it has signed oil and gas exploration agreements with Brazil's Petrobras and Spain's Repsol.
Uruguay and Argentina signed on Friday an agreement to build a re-gasification plant for liquid natural gas to help meet their energy needs. The floating re-gasification plant will supply the two nations with 10 million cubic meters a day of natural gas, scalable to 15 million, starting in 2013 according to an official statement.
Based on market capitalization Brazilian government managed oil and gas company Petrobras ranked third worldwide according to the prestigious PFC Energy 50 list of the world's biggest energy companies.
Chilean officials reached agreement Tuesday with the Citizens Assembly of Magallanes over an increase in natural gas prices that sparked a week-long general strike in the remote southern region, sources involved in the talks said.
The southern Chilean city of Punta Arenas had its largest strike in decades Wednesday in response to a government proposal to increase the price of gas in the region by 20%.
President Evo Morales’ government has offered to reimburse 100% of the cost of successful exploratory drilling in Bolivia by private oil and natural gas companies, state-owned energy company YPFB announced this week.
Argentine President Cristina Fernández de Kirchner was in charge of leading the Tuesday ceremony in which Repsol-YPF announced the discovery of a massive shale gas reserve, the largest in 35 years that could help the country reduce its imports of the fuel.
The Latin American oil and gas explorer and producer GeoPark which has been successfully drilling for oil and gas in the extreme south of Chile has made a private placement of 133 million US dollars to invest in expanding activities.