Tag: oil

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.
Wednesday, July 28th 2010 - 17:48 UTC
Brazilian military exercise to protect nuclear plants and vast offshore oil deposits

Brazil is holding military exercises along its Atlantic coast with the deployment of 10.000 troops from the three services to ensure the country can protect its nuclear plants and massive offshore oil industry.
Tuesday, July 27th 2010 - 23:46 UTC
Argos Resources raised £ 22 million for hydrocarbons exploration in Falklands

Argos Resources with exploration licences in the North Falkland Basin expects its shares to be admitted to trading on AIM on Thursday 29 July. Argos Resources has raised £22 million (£20.6 million net of costs) in a placing of new ordinary shares at 31 pence per share which will give the company a market capitalisation of £67 million.
Tuesday, July 27th 2010 - 20:20 UTC
Ecuador moves to increase state control over the oil industry

OPEC member Ecuador says it will start renegotiating contracts with private oil companies as it moves to increase state control over the sector. Under the new hydrocarbons law, the current production-sharing agreements will be replaced by a flat fee.
Friday, July 23rd 2010 - 22:39 UTC
Rockhopper spuds second well in Falklands North Basin

Rockhopper Exploration (AIM: RKH) announced that on Friday early morning it had spudded Ernest 26/6-1 exploration well in the North Falkland Basin, the second well the British company is drilling following the successful discovery of oil in its Sea Lion prospect.
Thursday, July 22nd 2010 - 09:02 UTC
Falklands’ oil exploration continues with Rockhopper ready to drill second well

Rockhopper Exploration the only company so far to have announced the discovery of oil in Falklands’ waters is preparing to spud its second well in the North Falkland basin, the company announced in a release.
Wednesday, July 21st 2010 - 05:49 UTC
BP sells assets in US, Canada and Egypt to pay clean up bill

British Petroleum is to sell assets in Texas, Canada and Egypt, to part-fund the clean-up cost of the Gulf of Mexico oil spill. The oil giant said it had reached a 7 billion US dollars deal with US-based oil production firm Apache Corp.
Thursday, July 15th 2010 - 06:05 UTC
Venezuela oil reserves could double Saudi Arabia, says US assessment

A new US assessment of Venezuela's oil reserves could give the country double the supplies of Saudi Arabia. Scientists working for the US Geological Survey say Venezuela's Orinoco belt region holds twice as much as previously thought.
Tuesday, July 13th 2010 - 22:01 UTC
Argos warned by Argentina to abstain from drilling in the Falklands or…

Argos Resources the latest company to announce it will begin oil exploration operations offshore the Falkland Islands was sent a letter by the Argentine embassy in London warning it “to abstain” from such activities otherwise “it will face legal actions”, according to reports in the Buenos Aires press.
Tuesday, July 13th 2010 - 21:31 UTC
Deepwater oil rig needed to drill in Falklands’ southern waters, confirms FOGL

Falkland Oil and Gas (FOGL) will press ahead with its drilling program offshore the Falkland Islands despite reporting that its Toroa F61/5-1 exploration well was dry. However FOGL, which is associated with Anglo-Australian mining giant BHP Billiton, said it will work first towards contracting a deepwater rig.