Plans for the installation of a Petroterminal in Melones Island, Panama received much criticism due to its threat to the environment reported La Estrella. The development of the terminal is near both a potential touristic area and a protected area a fact that Oilwatch, an organization against oil exploration in Mesoamerica, uses to fight against its installation. Burkell Holding Company Inc. made no statement besides having plans to build other Petroterminals in the district. Read article.
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On Sunday in Arauquita, Arauca, Colombia, FARC released 5 workers from the OXY oil company who were kidnapped on Friday near the Venezuelan border according to larepublica.pe. There have been recent kidnappings of oil workers such as the kidnapping of the 4 Chinese workers who still have not been located. Read Article
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Production has recommenced in the Pacific Rubiales Fields in Colombia after negotiation talks between representatives of the Canadian company, from the contracting companies as well as delegates from the Workers’ Syndicate Union. It is estimated that the demonstrations halted the production of 177,000 barrels of crude oil. The oil companies are petitioning the prosecution of […]
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•The protests against 4 oil companies have left 6 people injured and several burnt vehicles in the Pacific Rubiales oil field in Meta, Colombia. •Rcnradio.com reports that the protests were incited by the dismissal of 1,100 workers from the JM oil installation company. •Complaints include labor exploitation, dangerous work conditions, and shifts of 30-40 days. […]
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ElUniverso.com reports that PetroEcuador, the state owned oil company in Ecuador, has bought 636,041 barrels of crude oil from Perenco. The purchase is valued at $68.01 million. Officials say the purchase served as a way to cancel the debt Perenco had with the Ecuadorian government for not paying the surplus on the increase in oil […]
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According to AmazonWatch.org, a pipeline rupture in Maple Energy’s Oil Block 31-E, 75 miles north of the city of Pucallpa, spilled crude oil into the Mashiria River, the primary source of drinking water and key fishing ground for the neighboring indigenous Shipibo community of Nuevo Sucre, this past Sunday. The local operator for the Dublin […]
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The fuel shortages in Argentina have reached new levels of intensity, especially in the interior of the country, according to infobae.com. Head of the Argentine Federation of the Interior Dispensing of Fuel, Daniel Giribone, says there is no hope for a quick fix because shortages in the interior provinces of the country are not seasonal, […]
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LaRepublica.pe report that agents of the National Police of Peru raided a local distribution center that packaged propane gas for household kitchen use. The center was located in Villa El Salvador, report police. They add that three people were arrested, including a truck driver and two people who packaged the gas and sold the product. […]
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British oil company Rockhopper announced this week that it has begun evaluating methods to extract oil from a well in the waters surrounding the Falklands Islands which they have been drilling in since last year without permission from the Argentine Government, according to diariouno.com.ar. This is the first time any oil company has officially decided […]
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According to Peru21.pe the younger brother of President-elect Ollanta Humala, Alexis Humala has been negotiating gas projects with Russian government officials on behalf of the Humala government in the last few days. The article says that Alexis Humala has been talking to the Russian company Gazprom and it’s vice-president about possible cooperation and strategic alliances […]
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ElComercio.com reports on July 6th, that Petroecuador has postponed the negotiations of “mature” oil fields in order to enhance the natural recovery time in the area. This report was broken by Andes news organization, last night. The story says the areas of recovery include the oil fields of Auca, Shushufindi, Cuyabeno, and Libertador that are […]
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According to Hoy.com.ec the state owned Petroecuador has signed an agreement with China to sell 130 million barrels of petroleum to Chinese state oil company, Petrochina, within a period of six years. Marco Calvopiña, the president of Ecuadorian Petroleum says that he hopes Ecuador can deliver 60,000 barrels per day to complete the contract in […]
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President of Venezuela Hugo Chavez’s struggle with cancer has severely shaken Cuban society, according to terra.com. A long-lasting friendship between Chavez and Fidel Castro, now carried on with Raul Castro, has been the glue to a strong economic relationship between the 2 nations that has greatly boosted the economy and overall standard of living in […]
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According to ElComercio.com eight legal proceedings against Ecuador are pending in the international courts. Claims against Ecuador are reportedly about $4,658 million, which only take into account five of the eight cases where damages have been quantified. Most of the lawsuits are from oil companies, while two of the lawsuits come from the companies Global […]
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According to ElUniverso.com last Thursday the vessel, San Juan III, sunk around 2 p.m. in the harbor of Puerto Ayora, Santa Cruz. The owner was transferring fuel from one boat to another and the ship became unbalanced and overturned. Within five minutes the boat sank spilling about 700 gallons of diesel. Officials say there were […]
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According to Hoy.com.ec six blocks of oil fields in Armadillo, Chanangue, Charapa, Eno-Ron, Ocano and Singue, located in the Amazon region, are open for bidding contacts, states the Ministry of Non-Renewable Resources. The bidding process is open until August says the Ministry. Interested companies will have to pay a registration cost, $10,000 and will be […]
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According to ElUniverso.com the police of the hydrocarbon energy unit raided a hacienda in San Carlos in the province of Guayas on the morning of Friday June 17th. The unit found fuel stored for smuggling activities in the vicinity of the hacienda, reported the police. The fuel was bound for Huaquillas, a city located on […]
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According to Ecuadorenvivo.com the Ecuadorian government has put aside USD 352 million for social projects in the Amazon. An Ecuadorian law that recently passed requires the government to reserve 12% of oil revenues for communities where oil is extracted. In the past, a dollar was given to local social projects for every barrel of extracted […]
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•This morning, Brigade 18 of the Colombian Army freed the Head of Security, Carlos Rodríguez, and a driver of the oil company Oxy after they had been kidnapped Monday around 1:00 p.m. by the ELN per El Tiempo. •Rodríguez is the Head of Security of the Gibraltar natural gas plant. •The army arrested Juan Carlos […]
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Thirty years after he first visited Brazil’s Amazon to observe natural gas seeps, geologist Marcio Mello is back to fulfill what he gleefully calls his “destiny” — to lead a rush for the region’s oil. Mello, chief executive of the recently listed firm HRT (HRTP3.SA: Cotización), has convinced a range of investors — including one […]
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The office of Ecuador’s Attorney General will represent Ecuador in Washington at a June 30 hearing in the arbitration case filed against the Andean country by U.S. oil company Occidental Petroleum Corp. (OXY). Ecuador’s Attorney General Diego Garcia said in a press release that the final decision on the case could be known in the […]
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During the 1960′s, the U.S. oil giant Texaco/Chevron established facilities in Lago Agrio, a town loaded inside the Ecuadorean jungle. In 1977, the State of Ecuador obtained a 62.5% stake in the oil field, but Texaco continued operating and profiting from the oil field. Finally, in 1992, Petroecuador (the State oil company), obtained the remaining […]
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Korean firms investing in the energy sector in Peru have closely watched the Latin American country after a left-wing presidential candidate won the run-off election on June 5. Analysts say Ollanta Humala, president-elect, will need to find financial resources to realize his policy vision of giving more benefits to the poor in education and welfare.
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Hoy.com.es reports that the Ecuadorian government took control of offshore wells that tap natural gas and a hydroelectric power station in the Pacific Ocean. The U.S. firm Noble Energy owned these operations and had an agreement with Ecuador in which Noble Energy was compensated USD 97 million. The wells and the power plant are to […]
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Colombia launched a major military and police operation Thursday to try to rescue four Chinese oil workers abducted by suspected leftist guerrillas in a remote southern jungle region. A land and air operation was under way around the town of San Vicente del Caguan, a longtime stronghold of the leftist Revolutionary Armed Forces of Colombia […]
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•The Colombian oil company, Ecopetrol, due either to the poor condition of piping and equipment or other operational difficulties, has spilled 15,000 barrels of crude oil thus endangering the environment per portafolio.co. •The Comptroller of Colombia points out Ecopetrol’s lack of attention to the environment in the areas in which it operates. •The company recognizes […]
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According to Eltiempo.com, three Chinese nationals working for the multinational oil company Emerald Energy were kidnapped along with his translator, yesterday (Tuesday) at 2:30 pm in a rural area of the municipality of San Vicente (Caquetá). The four employees were traveling with their driver in a pickup truck 4 x 4 when they were detained […]
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According to ElComercio.com 12 agreements established a trust and a bilateral fund for development, USD 66 million, in Ecuador and Venezuela during a meeting of the two presidents in Salinas. Joint marketing venture in coca, bananas, flowers, aquaculture and packing plastic, were established. Other agreements included exporting 14,000 vehicles to Venezuela and the establishment of […]
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According to ElComercio.com Venezuelan president Hugo Chavez thanked Ecuadorian president Rafael Correa for his support in rejecting the sanctions imposed by the U.S. on Venezuelan oil company PDVSA for selling oil to Iran. Chavez called the sanctions “an empire aggression.” The sanctions were imposed during an OAS assembly in El Salvador. Reportedly, Chavez blames the […]
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Ecuador will being operating three oil fields in a pristine Amazon preserve unless the international community contributes $100 million by December, President Rafael Correa announced Saturday. Read Article
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La Hora reports Ecuador’s Court of Justice acquitted two lawyers of the U.S oil company Chevron of alleged contamination in the Amazon, former Minister of Energy of Ecuador Patricio Rivadeneira and former officials of Petroecuador, the state-owned oil company. Documents state the acquitted developed a false discharge document in 1998 stating that Texaco, acquired by […]
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•According to elespectador.com, Venezuela is carrying out its promise to keep sending fuel to Colombia despite the increased length of the transport (up to 122 extra kilometers) due to the heavy rains. •On April 2, Venezuela sent 15.2 million liters of fuel to Cúcuta, in the department Norte de Santander, Colombia. •Rafael Ramírez, minister of […]
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In a stand of primary rainforest in Peru’s Amazon region, giant trees with spreading buttress roots rise up to a canopy where their thick branches are laden with ferns, bromeliads, and other clinging vegetation. The air buzzes with the sound of insects, and parakeets screech to each other as they forage for fruit in the […]
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The head of a Bolivian energy company said he might sign a deal that would allow Russian gas company Gazprom to explore for hydrocarbons in the country. Read Article
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In 2001, when Chevron acquired Texaco, the company inherited an environmental and human rights disaster in Ecuador. According to a lawsuit originally filed in 1993, Texaco dumped billions of gallons of waste byproduct from oil drilling in the rainforest, and burned hundreds of millions of cubic feet of gas and waste oil into the atmosphere. […]
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•As part of a campaign to search Caño Sur in los Llanos Orientales, the state oil company, Ecopetrol, discovered exploratory well A-3 according to elespectador.com. •Two other such wells have been discovered in 2010. •The production test predicted that the wells will produce 225 barrels a day and a water and sediment cut off of […]
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A private company wants to install a liquid petroleum gas storage plant in the Punta de Manabique reserve on GUATEMALA CITY, May 17, 2011 (Tierramérica) – “If they come here to extract iron from the beach, it will mean the destruction of our natural wealth and the end of tourism,” warned Leonel Palma, a hotel […]
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U.S. energy explorer Apache Corp. said it tested a gas well in Argentina that yielded 7 million cubic feet of gas per day. Apache said it drilled a well in deposits in Argentina’s Neuquen province to a vertical depth of 12,800 feet with a horizontal section that reached 2,800 feet in a low-permeability or “tight” […]
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London-based BP this week received approval from Brazil’s ANP energy regulator for its purchase of assets from US-based Devon, a deal signed in 2010, but put on hold following the massive Gulf of Mexico oil spill. Read Article
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Argentine President Cristina Fernandez will announce a major shale oil discovery by the country’s largest oil and gas company, YPF SA YPF +4.47% , on Tuesday afternoon, according to the presidency’s press office. The announcement is scheduled for 3:30 p.m. EDT and could be the biggest oil find in nearly 20 years, the press office […]
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Amyris Inc. (AMRS), a U.S. biotechnology company, built its first industrial-scale facility to produce from sugar-cane syrup a compound that can be converted into a renewable fuel, tapping Brazil’s expansive cane industry for feedstock. Read Article
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Without sufficient investments in oil field development and the use of new, advanced technologies, Mexico faces becoming a net oil importer in 10 years, according to research by Rice University’s James A. Baker III Institute for Public Policy and Oxford University. Read Article
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The Mexican carrier Interjet has conducted the first biofuel flight in the country, operating an Airbus A320 with a 30 percent biofuel blend developed from the local jatropha plant. The plants were harvested in Chiapas, Mexico. Read Article
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Argentine union leaders have reached a deal to end a 24-day-old strike that has halted oil output in the Santa Cruz province, but workers must still approve the accord, a unionist said. Read Article
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It belongs to Chile, which now has the first electric charging station in South America. The country’s president, Sebastian Pinera, and other top officials presided over a ceremony last week in the smoggy capital city of Santiago. The aim is to reduce carbon dioxide emissions and air pollution. Read Article
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Chevron Corporation (NYSE: CVX) has filed an amended complaint in its lawsuit in federal court in New York seeking to block enforcement and recognition of a judgment entered against the company in Lago Agrio, Ecuador. The amended complaint cites newly discovered evidence that the Lago Agrio plaintiffs’ lawyers and consultants, at a minimum, provided clandestine […]
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Chile has set sights on developing its extreme south as a major hub for hydrocarbon development and export, a plan that will see more than $400 million in state and international investments pouring into the area. Read Article
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Global Energy has begun planning the acquisition of 100 square kilometers of new 3D seismic over the Company’s Bolivar Association Contract area. The Company has previously reprocessed existing seismic over the contract area and made an exhaustive interpretation. The acquisition and interpretation of the new seismic data will enable the Company to validate the previous […]
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The government, based on the National Biofuel Program, established the mandatory use of all gasoline sold in Costa Rica with a blend of around 7% ethanol, starting in October 2008. The implementation phase follows a two year trial that took place in the provinces of Guanacaste and Puntarenas. The government expects to increase the percentage […]
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The Caribbean Coast returns to save space on the map sugarcane growers of the country and this time a project to produce ethanol based on sugarcane, it takes 10 thousand hectares of agricultural frontier for this crop in the department of Magdalena. It Agrifuels project in the municipality of Pivijai, which have capacity to produce […]
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The Deputy Minister for Tax Policy, Susana Ríos, said Wednesday that the vehicles that carry foreign plates acquire international fuel prices at service stations borders. Read Article
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About 30 stations borders will be expropriated and the hands of the Bolivian Fiscal Oilfields ( YPFB ), after the municipalities define the price of the same, after a thorough evaluation conditions found in each. The information was unveiled on Sunday the president of YPFB , Carlos Villegas, who recalled that the new Law on […]
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Bolivian officials said late last week the country’s natural gas reserves total 9.94 trillion ft³, far lower than estimates ranging from 12.8-26.7 trillion ft³ that have appeared in contradictory reports over the last five years. “Bolivia has passed from fiction to reality,” Carlos Villegas, president of state-run energy company YPFB, said. Read Article
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Executives at state-owned Efe Thursday ANCAP Told That Had the company discovered the first traces of oil in Uruguay, a country That depends on imported crude for 60 Percent of ITS energy. “For the first time in Uruguay’s history, free oil has-been found in small Proportions, emanating from the bedrock,” Juan Gomez, member of ANCAP’s […]
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Ecuador’s decision to forego potentially lucrative oil drilling in the Amazon forest in order to protect a biologically rich and fragile ecosystem is the focus of two documentaries at the Washington Environmental Film Festival. Read Article
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Ecuador’s prospective tenth licensing round that will tender oil blocks in the southeast Amazon jungle is shaping up to be a battle between the government and local indigenous peoples, NGO Amazon Watch’s Ecuador program coordinator, Kevin Koenig, told BNamericas. Read Article
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Chevron is divesting itself of overseas assets that could be used to enforce the $9.5 billion legal judgment against the oil giant for massive contamination of the Ecuadorian rainforest, lawyers for the Ecuadorian plaintiffs stated in a legal brief submitted to the Southern District of New York last week. Read Article
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Belarus won in 2010 from 4 to $ 6 per ton of Venezuelan oil processing in its refineries, the parliamentarians said today the vice president of the consortium Belneftejim Belarus Vladimir Volkov. “In 2010 we earned from the processing of Venezuelan oil: 4 to 6 dollars per ton,” he said. Read Article
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Although gasoline prices keeping rising, one thing that is evident to owners of gasoline stations in Costa Rica, is that for some years the business has become less profitable. Gasoline stations owners have a fixed mark up – ¢35 colones per litre – since 2008, which, among other factors is the cause for a crisis […]
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Shell is going to leave Chile. Anglo-Dutch oil company sold its refining and distribution to the local group Quiñenco. The transaction closed on $ 614 million. Read Article
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Mexico’s proven oil and gas reserves have fallen 1.4 percent to about 13.8 billion barrels of crude equivalent, as production continues to outstrip discoveries. Read Article
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The director of the Ministry of Hydrocarbons Conversion, Daniel Tapia, said Tuesday it approved more than 20 workshops in the city of La Paz, to start the conversion process at least 3,000 motor Natural Gas (CNG). Read Article
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The stolen volume increased from 189 barrels per day in 2009 to 369 barrels per day in 2010. In the Shareholders of Ecopetrol, the company reported a 95.2% increase in the theft of crude to its transport networks. The company said this was due to increase in the eradication of illicit crops, to activities related […]
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This was announced by Minister of Mines and Energy Shot Carlos Noriega, who said that the National Hydrocarbons Agency (ANH) has signed contracts Colombia Round 2010 with different companies. Last year the government awarded 78 blocks in this bidding process to undertake the drilling of fields in different basins of the country. Read Article
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Two of Petroleos de Venezuela’s crude-oil upgrader facilities in the Orinoco Belt will undergo partial shutdowns over the next few weeks to carry out much-needed technical improvements, union officials said Wednesday. Read Article
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Venezuela is shoring up economic ties with Chinese companies with the signing of new trade and investment agreements, in a bid by President Hugo Chavez to reduce dependence on Washington. Read Article
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In a release the company said that its latest appraisal at the Sea Lion well had found “a high quality reservoir”. Shares of the company soared on the news. Rockhopper’s Sea Lion was the first oil strike in Falklands’ waters (May 2010). Read Article
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Lighting up the night sky with flames from its chimneys, Curacao’s giant Isla refinery is at the center of an increasingly acrimonious dispute over the island’s economic and environmental future. Run by neighboring Venezuela’s state oil company PDVSA, the smoky, 335,000-barrels-per-day facility is the second-biggest in the Caribbean but has long been plagued by technical […]
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The Public Services Regulatory Authority (ARESEP) announced Tuesday that national gas prices will increase ¢54 per liter beginning in April. Gas prices have risen three times thus far in 2011. ARESEP’s announcement of a national gas price increase comes at a time when international gas prices are sky-rocketing. Due to last month’s turmoil in Egypt […]
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Ecuador said late Friday it had suspended crude oil exports of 342,000 barrels a day as long as a tsunami threat remains in place following the major 8.8-magnitude earthquake that devastated Japan earlier in the day. Ecuador’s official oil company said it had declared “force majeure” on all crude exports and notified foreign companies that […]
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Chevron, the second largest U.S. oil company, believes that to overturn the verdict ordering it to pay 9.5 billion dollars in reparations for environmental and public health damages in Ecuador’s Amazon jungle, the best defence is a good offence. Read Article
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A federal judge on Monday extended his temporary order banning collection of an $18 billion judgment by the courts in Ecuador against Chevron, saying the oil company could face irreparable harm because it appeared that lawyers for Ecuadoreans who sued over rainforest contamination were going to try to quickly collect the award. Read Article
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Suspected FARC guerrillas have kidnapped 23 local oil contractors carrying out exploration work in a remote jungle area of Colombia for Canada’s Talisman Energy Inc, authorities said on Monday.Read Article
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SGS Industrial Services Chile, Santiago, has been assigned a 2-year contract to provide comprehensive asset integrity management and nondestructive testing services for two oil refineries in Chile. The company didn’t identify the plants. OGJ’s annual survey indicates that Chile’s state Empresa Nacional de Petroleo operates the country’s only three refineries, Anconcagua, Gregorio, and BioBio (OGJ, […]
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Mexico’s state oil monopoly Pemex will auction operating contracts for three mature oil fields to private companies in 2011, the first time in more than 70 years that private firms will be allowed to operate Mexican oil fields. Read Article
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Argentina is going ahead with deep-sea exploration for hydrocarbons close to the Falklands Islands territorial waters in the South Atlantic despite risks of heightened tensions with Britain and the U.K. overseas territory. Read Article
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Colombia’s Cano Limon-Covenas oil pipeline, transporting around 80,000 barrels per day (bpd), has been attacked but exports have not been affected, a source at state-run Ecopetrol said told Reuters. Read Article
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The Chinese footprint on the Argentine energy landscape will increase with the acquisition of an Exxon Mobil downstream unit by the company with a significant shareholding by China’s third largest state-owned oil company. Read Article
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On Feb. 14, a provincial Ecuadorean court issued the harshest environmental verdict in history against a major oil company, the U.S.-based Chevron. But is there any chance it will be carried out? Read Article
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She has no legal training, and doesn’t speak the Spanish that dominates government in Quito but indigenous villager Maria Aguinda helped bring a landmark judgment against US oil giant Chevron for polluting the rain forest she calls home. Read Article
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Billionaire Carlos Slim’s Grupo Carso SAB agreed to acquire a 70 percent stake in Geoprocesados SA’s Tabasco Oil Co., gaining access to the Colombian oil market as the country seeks to boost crude and natural-gas output. Read Article
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Ecuador has received a billion US dollars from PetroChina as prepayment for crude oil sales, Finance Minister Patricio Rivero has said. Read Article
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Plaintiffs in the Ecuador pollution case against Chevron Corp will get to question the man they call the “ringleader” of a sting operation that is key to Chevron’s efforts to avoid paying a massive judgment. Read Article
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In November 2009, a Philadelphia lawyer suing Chevron Corp. over oil-field pollution in Ecuador had some advice for his colleagues on the case: Now might be the time to settle. Read Article
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An Ecuadorean judge ruled Monday in an epic environmental case that Chevron Corp. was responsible for oil drilling contamination in a wide swath of Ecuador’s northern jungle and ordered the oil giant to pay $8.6 billion in damages and cleanup costs. The amount was far below the $27.3 billion recommended by a court-appointed expert but […]
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Venezuela’s state oil company PDVSA loses around $1.5 billion a year through domestic subsidies that make the South American OPEC member’s gasoline the cheapest in the world, the energy minister said on Sunday. Read Article
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International arbitrators ordered Ecuador to suspend enforcement of any judgment against Chevron Corporation in a marathon environmental case against the US supermajor, according to an order posted on Chevron’s website. Read Article
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Oil prices could more than double to $200 per barrel if the Suez Canal closes because of the crisis in Egypt, though there is no sign of that happening at the moment, Venezuela’s oil minister said on Friday. Read Article
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Venezuela’s crude oil exports to the United States bounced back in the last week of January, up 34 percent compared to average exports in January 17-21. Read Article
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Economy Ministry sources reported that the National Government is exploring the possibility of applying the Law of Supply before the price increase by Shell. Supply Law allows Cristina Fernandez management through the Ministry of Domestic Trade bind “roll back fuel prices.” Read Article
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Since oil prices are climbing, thus ensuring enough funds for Venezuela to meet its obligations, investors should view Venezuela as a low-risk country. However, the lack of confidence in the South American lingers. Venezuela’s country risk -an indicator of the spread between the yield an investor demands in order not to buy US Treasury bonds […]
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Venezuela would review the rights granted to foreign oil firms to operate in the South American country in joint ventures with state-run oil company Petróleos de Venezuela (Pdvsa) if they fail to increase output, warned Venezuela’s Minister of Energy and Petroleum Rafael Ramírez. In December, amid a decline in oil production in Venezuela -where more […]
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Argentine daily newspaper El Cronista on Monday reported that YPF will begin oil exploration in the Malvinas basin in February. The newspaper reports that exploration will begin 289 kilometres off the coast of Tierra del Fuego and cost U$ 150 million. Read Article
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Talks between government officials and local leaders on Monday failed to end protests over an increase in natural gas prices in the south of Chile. Chile’s Mining and Energy Minister Laurence Golborne travelled to the regional capital of Punta Arenas to offer a limit on the price increase to 3 percent, an improvement from the […]
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In March of this year, officials expect to be ready to launch a tender in the private sector for the first concession blocks for early exploration and development of the oil industry in Panama. Read Article
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Venezuelan President Hugo Chavez said Saturday that the country’s oil reserves amount to 217,000 million barrels and is the first country in the world with more than Saudia “We’ve surpassed the 217,000 million barrels but has not completed the certification process,” said Chavez during the presentation of accounts on its management in 2010 before the […]
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Petroecuador, Ecuadors state oil firm, has taken over the operation of an offshore gas field after its previous operator, US-based Noble Energy, abandoned the country rather than sign a new contract. International Oil Daily
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More than 300,000 people in eight municipalities of the Isthmus are at risk of suffering a tragedy such as occurred in San Martín Texmelucan, Puebla, on 18 December last year, because they are seated near pipelines of Petroleos Mexicanos (Pemex), warned the director of Civil Protection State Institute of Oaxaca, Manuel Sánchez Maza. Read Article
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Mexico’s oil and gas regulator unveiled new rules for deep-water drilling today aimed at preventing a repeat of BP’s Macondo Gulf oil spill but stopped short of halting drilling during the safety review. Read Article
Bolivia is offering new perks to oil prospecting firms to speed the momentum of operations aimed at finding substantial hydrocarbon reserves. Companies that invest and succeed in finding commercially viable oil or natural gas deposits will have their cash reimbursed. Read Article