Tag: oil

• Thursday, July 1st 2010 - 07:26 UTC

  Lula da Silva signs bill for the capitalization of Petrobras

  

  The bill governing the capitalization of Brazilian energy giant Petrobras was approved Wednesday by President Lula da Silva. It is the first step to establish the new regulatory framework for exploiting crude oil under the pre-salt layer of the continental seabed of Brazil.

• Thursday, July 1st 2010 - 07:08 UTC

  Argentina prepares to begin drilling in Malvinas basin in second half of 2010

  

  Towards the end of the year Argentina’s YPF in association with Pan American Energy and Petrobras will begin exploring for oil in the Malvinas basin, following the contract for an oil rig which has been signed, according to oil industry sources in Buenos Aires.

• Wednesday, June 30th 2010 - 06:18 UTC

  Shell confirms oil discovery in pre-salt drilling at Campos Basin

  

  Royal Dutch Shell Brazil discovered oil in the Campos Basin's pre-salt region, the company said Tuesday. In a statement, Shell Brazil said it had discovered oil in the 3-SHEL-22-ESS well at the Nautilus field, part of the Parque das Conchas development that went on-stream in July 2009.

• Friday, June 25th 2010 - 05:22 UTC

  Petrobras confirms high quality oil in latest off-shore discovery

  

  Brazil’s government controlled oil and gas corporation Petrobras said its seventh well in the offshore Tupi field confirmed the potential of light oil in pre- salt reserves. The 3-BRSA-821-RJS well, known as Tupi Alto, is about 275 kilometers off the coast of Rio de Janeiro state, Petrobras confirmed Thursday in a regulatory filing.

• Thursday, June 24th 2010 - 05:30 UTC

  Argentine Lower House votes to sanction companies operating in Falklands

  

  Argentina’s Lower House gave unanimous preliminary approval to a bill that seeks to impose sanctions on corporations operating in Argentina that may be looking to work in the Falkland/Malvinas Islands with out the approval of Argentine authorities. The bill must now be ratified by the Senate.

• Friday, June 4th 2010 - 06:52 UTC

  Rockhopper has confirmed the first Contingent Oil Resource in the Falklands.

  

  Sam Moody, Managing Director, commented:”Our analysis of the data from the Sea Lion well suggests that there is significant potential upside on our acreage and our technical effort will now focus on integrating all of our new knowledge of the basin so we can understand and identify the best prospects for future drilling.”

• Saturday, May 15th 2010 - 04:16 UTC

  China Signs 23 Billion USD Deal with Nigeria to Build Three Refineries

  

  Nigeria's state-run oil firm Nigerian National Petroleum Corporation and China State Construction Engineering Corporation have signed a 23 billion US dollars deal.

• Saturday, May 15th 2010 - 02:50 UTC

  PM Cameron Reaffirms Falklands’ Sovereignty and Supports Local Oil Industry

  

  London reaffirmed British sovereignty over the Falkland Islands rejecting a call Friday from Argentine President Cristina Kirchner to new Prime Minister David Cameron to halt all oil exploration in the waters around the Falklands.

• Friday, May 14th 2010 - 01:22 UTC

  Indian Sub-Submersible Gas Rig Sinks off the Coast of Venezuela

  

  Aban Offshore (BOM:523204), India’s largest offshore drilling and oil field services provider, suffered a major setback on Thursday, when its gas platform Pearl sunk off the coast of Venezuela. This was one of Aban’s biggest money spinning rig earning 358,000 US dollars a day.

• Thursday, May 13th 2010 - 10:38 UTC

  Brazil Announces Discovery of Field with 4.5 Billion Barrels of Light Oil

  

  Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) has revealed that the 2-ANP-1-RJS well, dubbed Franco, is estimated to hold 4.5 billion barrels of recoverable light oil.