Tag: oil

• Friday, September 17th 2010 - 20:43 UTC

  Rockhopper declares Falklands’ oil discovery will be commercially viable

  

  Rockhopper Exploration (RKH.L) said it believed its oil discovery offshore the Falklands Islands will be commercially viable. A test at the Sea Lion 1 well in the North Falkland basin produced sustained rates of over 2,000 barrels of oil per day, in line with its hopes, Rockhopper said in a statement on Friday.

• Friday, September 17th 2010 - 06:39 UTC

  Successful testing of ninth out of ten oil-wells in extreme south of Chile

  

  Latin American oil and gas firm GeoPark Holdings Ltd said on Thursday it successfully drilled and tested a new well in the Guanaco oil field on the Fell Block in the extreme south of Chile.

• Friday, September 17th 2010 - 06:30 UTC

  Chinese oil company after BP’s stake in Argentina’s Pan American Energy

  

  CNOOC, Ltd, China’s biggest offshore oil explorer, may bid 10.2 billion USD for BPs 60% stake in Argentina’s Pan American Energy LLC and will probably seek a partner in the acquisition, Citigroup Inc. said.

• Tuesday, September 14th 2010 - 14:25 UTC

  Falklands’ oil and Argentina: “the potential prize made the risk worth taking”

  

  Alan Huckle retires this month as Governor of the Falkland Island. In an interview with Mercopress Mr. Huckle recalls some of the outstanding events of his mandate: a solemn, dignified 25th anniversary of the 1982 conflict; constitutional reform which transferred even greater responsibility to the Falklands elected Councilors and oil, “an issue not yet played out”.

• Tuesday, September 14th 2010 - 03:55 UTC

  OPEC born in Baghdad in 1960 with five members, changed the energy world

  

  The Organization of Petroleum Exporting Countries turns 50 years old Tuesday having survived a tumultuous history of wars, embargoes and in-fighting. The world’s oldest and largest energy producer group is now enjoying prices close to the 75 USD a barrel level that its largest member Saudi Arabia considers “ideal.”

• Monday, September 13th 2010 - 22:06 UTC

  Argos confirms Falklands’ waters exploratory oil drilling for second half of 2011

  

  In the first six months of 2010 Falkland Islands based Argos Resources has made significant progress in developing its PL001 Licence in the North Falkland Basin, to anticipate it will begin an exploratory hydrocarbons drilling campaign in the second half of 2011.

• Monday, September 13th 2010 - 20:33 UTC

  Falklands’ Desire ‘exited’ about prospects plans to drill four more wells

  

  Falkland Islands Desire Petroleum (AIM-DES) is upbeat about the prospects for finding major reserves of oil offshore the Islands despite mixed results so far and revealed plans to further drill four wells in the North Falkland basin.

• Sunday, August 22nd 2010 - 04:28 UTC

  Shell defies in court Argentine government ban on fuel increases

  

  Royal Dutch Shell which refines about 15% of Argentina’s fuel is waging a court battle against a government ban that prevents fuel producers from increasing prices. Shell’s federal court complaint was filed last week following a government order on August 18 mandating oil companies to lower fuel prices to a pre-August 1 level.

• Thursday, August 19th 2010 - 06:05 UTC

  Rockhopper confirms Falklands’ drilling program; shares rebound

  

  After stating that its first well (Ernest) drilled in the southern part of the North Falkland Basin has been declared dry, Rockhopper Exploration (AIM: RKH) was sold down to 265p before rallying sharply to close Wednesday only 2.5p cheaper at 301.25p.

• Saturday, August 7th 2010 - 05:44 UTC

  UN/Ecuador agree on trust fund to protect bio-diversity from oil industry

  

  The United Nations Development Programme, UNDP, and Ecuador have reached agreement to set up a trust fund to protect an ecological site in an oil-rich area of the South American country’s Amazon region.