Pan American Energy finds oil reserve in Argentina
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Pan American Energy has discovered an oil reserve in southern Argentina in one of the biggest such finds of recent years in the energy-hungry country, a provincial governor said on Saturday.
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An agreement has been reached to lend 1.7 million barrels of oil from the government&#39;s Strategic Petroleum Reserve to two companies whose refineries were running short of crude
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JAKARTA, Indonesia -- The Organization of Petroleum Exporting Countries has asked the United States to use its strategic petroleum reserves to help reduce oil prices, the cartel&#39;s president said Wednesday.
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World's largest oil reserves, could increase to top 461 billion barrels in a few years, the nation's oil minister said Sunday.
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People form a line to enter a Noah&#39;s arc replica in Buenos Aires, Argentina, Monday Dec. 6, 2004. Greenpeace activist built the giant arc and placed it at the Plaza Republica to demonstrate and demand governments
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The oil and gas firm keeps ratcheting up reserves.
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Britain is seeking to legally annex stretches of the south Atlantic seabed in a bid to tap gas, mineral and oil wealth, in a move that could raise tension with Argentina, a newspaper reported Saturday.
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Production at Mexicoâs giant Cantarell oil field will fall by 15 percent this year, JesÃºs Reyes HerÃ³les, left, the director general of PetrÃ³leos Mexicanos, Mexicoâs state-owned oil monopoly, said. Output dropped 13.1 percent last year. Mr. Reyes HerÃ³les, a former energy minister who took over at Pemex in December, said other projects would help make up for the shortfall at Cantarell, which last year accounted for about 55 percent of Pemexâs overall production of 3.26 million barrels a day. Mexico is a top supplier of imported oil to the United States. Mr. Reyes HerÃ³les said that the company needed additional investment of $8 billion to $10 billion a year to keep up production, develop new reserves, expand its refining capacity and modernize its storage and transport network. But Pemex is closed to private investment and cannot finance the investment itself. Last year, Pemex sales surpassed $100 billion but it paid $79 billion in taxes, which accounted for almost 40 percent of Mexicoâs federal budget.
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SANTA CRUZ, Bolivia  - Bolivia's energy-richregions came to a standstill on Thursday in a 24-hour strike todemand autonomy from capital city La Paz, where a poorindigenous majority has restricted development of the area'svast oil and gas reserves.
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Repsol, Spain's biggest oil firm, said Tuesday it planned to invest 3.2 billion euros (4.7 billion dollars) to double capacity at its refinery in Cartagena in southwestern Spain.
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JAKARTA The Organization of Petroleum Exporting Countries has called on the United States to dip into its strategic petroleum reserve to help deflate oil prices, the cartel&#39;s president said Wednesday.
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&quot;We have asked them (the United States) to use their oil reserves to help cool down the prices,&quot; OPEC President Purnomo Yusgiantoro, who is also Indonesia&#39;s minister of energy and mineral resources, told reporters.
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VANKOR FIELD, Russia  - Half a century ago, Josef Stalin banished his foes to labor camps in East Siberia. Now volunteers are lining up to drill the frozen wastelands for their vast reserves of oil.
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ChevronTexaco reports that its United Kingdom subsidiary and its partners, Statoil, OMV and DONG, have made a significant oil and gas discovery at the offshore Rosebank/Lochnagar well in the Faroe-Shetland ...
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Venezuela has agreed to sell gasoline to Iran, the South American county's energy minister said in comments published Tuesday, a week after the Islamic country imposed a fuel rationing program that has sparked violence.
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The Gulf of Mexico discovery, which could boost US reserves by half, set a new depth record.
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President Fidel Castro said a crude oil deposit has been discovered off Cuba containing up to 100 million barrels, good news for a country that imports about half the petroleum it needs.