Hofmeister Says More Offshore Oil Access Good for US: Video
March 31 (Bloomberg) — John Hofmeister, former president of Royal Dutch Shell Plc’s US unit and chief executive officer of Citizens for Affordable Energy, talks with Bloomberg’s Margaret Brennan about the outlook for offshore oil exploration. President Barack Obama said today he will allow oil and natural-gas drilling off the US East Coast and cancel development in Bristol Bay, Alaska. (Source: Bloomberg)
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Brazil to tighten control over offshore oil reserves
Brazil unveiled Monday, a plan to increase its control on huge offshore oil reserves. This involves giving its state-owned company Petrobras sole operating rights, much to the disappointment of foreign oil companies.
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Oil exploration: Chinese company asks for more time
The China National Offshore Oil Exploration has requested for a five month extension in the fossil fuel exploratory project its carrying out in Isiolo following gas discovery in the area. Energy Permanent Secretary Patrick Nyoike says the extension will allow sinking of two other wells to ascertain the quality and the quantity of gas available in order to decide whether mining it is economically feasible. The PS however cautions that the gas find shouldnt be interpreted to mean the country has struck any sufficient hydro-carbons.
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Petrobras Focuses on Offshore Oil; Novell Spurns Elliott: Video
March 22 (Bloomberg) — Bloomberg’s Erik Schatzker reports on the latest breaking business news and top stories in today’s Business Briefs. (Source: Bloomberg)
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Cnooc Buys $3.1 Billion Stake in Argentina’s Bridas: Video
March 15 (Bloomberg) — Bloomberg’s Heidi Couch reports on Chinese oil and gas companies’ acquisitions of overseas energy assets. Cnooc Ltd., Chinas biggest offshore oil explorer, agreed to buy a 50 percent stake in Argentine producer Bridas Corp. for .1 billion, adding 318 million barrels of reserves as Chinese fuel demand surges. petrochina Co. and Royal Dutch Shell Plc have offered to acquire Arrow Energy Ltd. in Australia. Bloomberg’s Haslinda Amin also speaks. (Source: Bloomberg)
Chinas Cnooc Buys Bridas Stake for $3.1 Billion: Video
March 15 (Bloomberg) — Cnooc Ltd., Chinas biggest offshore oil explorer, agreed to buy a 50 percent stake in Argentine producer Bridas Corp. for .1 billion, adding an estimated 318 million barrels of reserves as Chinese fuel demand surges. Bloomberg’s Melissa Long reports. (Source: Bloomberg)