Venezuela's president Hugo Chavez announced that his country's oil reserves total 217 barrels, topping Saudi Arabia's and making them the largest in the world.
The Brazilian government and Navy are considering an ambitious plan for launching an offshore subsea lab to be located at the limit of the country´s territorial waters and beyond the farthest pre-salt play
The United Nation's Food and Agricultural Organization, FAO, global food prices index reached a record high in December, 2010 reported the organization this week. The FAO food index tracks a basket of 55 key food commodities including items such as wheat, cooking oil and fats and sugar.
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.
Desire Petroleum plc (AIM:DES) the company wholly focussed on the North Falkland Basin, advises that the 25/5-1 well on the Dawn/Jacinta prospect has reached a total depth of 1,697 metres in pre-rift sediments.
Desire Petroleum plc (AIM:DES) the oil and gas company wholly focussed on the North Falkland Basin, advises that the 25/5-1 well on the Dawn/Jacinta prospect has reached a depth of 1,313metres.
Chile's state oil firm ENAP is seeking joint ventures with foreign companies to explore for crude and gas at five blocks in the country's extreme south region and has invited over twenty corporations to participate, announced the company.
Colombia’s Ecopetrol has reported oil shows from a second stratigraphic well on the Cano Sur block, where Shell holds a 50% stake. Ecopetrol said that it completed drilling of the Draco-1 well, located in the southeastern province of Meta.
Brazilian President Lula da Silva said on Tuesday he would veto a plan to change the distribution of oil royalties among state governments, paving the way for the implementation of a legal overhaul of Brazil's oil sector.
Repsol YPF SA, Spain’s biggest oil company announced it filed a request with the U.S. Securities and Exchange Commission to be able to sell shares representing as much as 15% of its Argentine unit YPF SA.