Tag: oil

• Tuesday, May 3rd 2011 - 17:08 UTC

  Petrobras earmarks 73 billion USD for investment in Santos pre-salt basin

  

  Petrobras announced the increased investment plans for the emerging Santos basin pre-salt assets, earmarking 73 billion US dollars for the 2011-2015 period. The vast sum is a 63% increase compared with the company’s 2010-2014 plan said a company statement.

• Wednesday, April 20th 2011 - 05:14 UTC

  Oil exploration in extreme south of Chile attracts 400 million USD in three years

  

  In the coming three years hydrocarbons exploration and exploitation in the extreme south of Chile will receive investment equivalent to over 400 million US dollars making Punta Arenas a hub for the regional oil industry.

• Monday, April 18th 2011 - 10:03 UTC

  Desire plugs Ninky well, plans to move to East Flank based on positive 3D

  

  Falkland Islands Desire Petroleum reported Monday that it had completed the drilling of its Ninky prospect (2.620 metres) which showed the reservoir quality “is generally poor” and therefore the well will be plugged and abandoned, according to an official report released Monday.

• Saturday, April 16th 2011 - 01:53 UTC

  Norway’s Statoil makes major oil discovery in the Brazilian Campos basin

  

  Norway’s biggest oil and gas producer Statoil ASA, said the “significant” oil discovery made adjacent to the Peregrino field in the Campos basin off Brazil may warrant a separate installation to speed up development.

• Thursday, April 14th 2011 - 05:34 UTC

  Oil to remain high, look for alternative sources of energy recommends IMF

  

  Oil prices are likely to remain high for the foreseeable future and IMF economists say that governments should be looking to back sustainable alternative sources of energy.

• Wednesday, April 6th 2011 - 06:10 UTC

  Venezuela to begin shipping Argentina 12 million barrel of fuel in May

  

  Venezuela will send Argentina 12 million barrels of diesel and fuel oil starting in May, an official from Venezuela's state oil company PDVSA said.

• Tuesday, April 5th 2011 - 09:13 UTC

  Falklands’ Sea Lion well latest oil appraisal sends Rockhopper shares soaring

  

  Shares in Falkland Islands Rockhopper Exploration soared 16% on Monday, after it raised its lowest case estimate of crude reserves at its Sea Lion well.

• Monday, April 4th 2011 - 07:08 UTC

  Source rock and possible shale oil discovered in the centre of Uruguay

  

  Uruguay state-run oil and gas company ANCAP announced the discovery of source rock which might contain underground shale oil or natural gas deposits.

• Monday, April 4th 2011 - 07:02 UTC

  Paraguay after partners to explore for oil in the vast Chaco region

  

  Paraguay’s government oil company Petropar is trying to find a foreign associate for oil exploration in the country’s vast Chaco region. Apparently companies from Russia and Bahrain have shown certain interest but Paraguayans admit the difficulties.

• Thursday, March 31st 2011 - 14:00 UTC

  Chavez warns: if capitalism returns to Venezuela, it’s the end of oil cooperation

  

  President Hugo Chavez confirmed he would run for re-election in 2012 and made a strong call for regional unity warning that “if capitalism returns to Venezuela” it would mark the end of oil cooperation.