Advertisement

July 22, 2014 / 8:51 AM

Energy work slated for Amazon jungle

Energy company HRT gets two-year extension for Amazon exploration.

An aerial view of the Amazon Rainforest and the The Solimões part of the Amazon river. (CC/Lubasi)

An aerial view of the Amazon Rainforest and the The Solimões part of the Amazon river. (CC/Lubasi)

BRASILIA, Brazil, July 22 (UPI) -- Brazilian independent energy company HRT said it received the government's consent for a two-year extension to a license in the Amazon jungle.

The National Petroleum, Natural Gas and Biofuels Agency granted the two-year license extension for exploration work in so-called Block SOL-T-195, located in the Solimoes basin in the Amazon, the company said Monday.

Advertisement

The petroleum agency, known by its Brazilian initials ANP, said in 2012 the region holds an estimated 2.4 billion barrels of oil equivalent in proven reserves.

The government last week assigned another 6 percent of the working interest in the Solimoes basin to a subsidiary of Russian energy company Rosneft.

Russian President Vladimir Putin met his Brazilian counterpart, Dilma Rousseff, last week for the signing ceremony for a memorandum of understanding for the monetization of natural gas from the Solimoes projects in the Brazilian jungle.

That transaction was valued at $96 million.

Topics
Dilma Rousseff

BP to be more transparent about climate efforts amid investor concerns

Energy News // 5 years ago

BP to be more transparent about climate efforts amid investor concerns

Feb. 1 (UPI) -- BP on Friday announced plans to increase disclosure on its efforts to fight climate change after requests from two groups of investors.

Crude oil prices rise early Friday amid supply concerns

Energy News // 5 years ago

Crude oil prices rise early Friday amid supply concerns

Feb. 1 (UPI) -- Oil prices rose early Friday amid supply concerns following reports of smaller-than-expected stocks, and amid reduced expectation of interest rate hikes.

Oil nearly flat in pause after previous session's gains

Energy News // 5 years ago

Oil nearly flat in pause after previous session's gains

Jan. 31 (UPI) -- Oil prices were near flat early Thursday in what was seen as a pause after gains in the two previous sessions, as traders considered geopolitical developments.

Petrobras sells Chevron $350M Texas plant bought for $1.2B

Energy News // 5 years ago

Petrobras sells Chevron $350M Texas plant bought for $1.2B

Jan. 31 (UPI) -- Chevron bought a Houston refinery for $350 million from Petrobras that had cost the Brazilian state oil company over $1.2 billion little over a decade earlier.

Oil prices rise amid ongoing concern about Venezuela

Energy News // 5 years ago

Oil prices rise amid ongoing concern about Venezuela

Jan. 30 (UPI) -- Oil prices rose Wednesday amid expectations that Venezuelan oil shipments would see some disruption following U.S. sanctions.

IEA: Greater use of rail would save energy, lower emissions

Energy News // 5 years ago

IEA: Greater use of rail would save energy, lower emissions

Jan. 30 (UPI) -- Increased railway use would save energy, help the environment, and also be safer, according to reports prepared by international environmental experts.

Crude oil prices rise amid renewed Venezuela concerns

Energy News // 5 years ago

Crude oil prices rise amid renewed Venezuela concerns

Jan. 29 (UPI) -- Oil prices were higher early Tuesday amid renewed concern about Venezuelan supplies but market worries about China-U.S. trade issues prevented higher gains.

U.S. fuel prices near last month's levels, unlikely to change

Energy News // 5 years ago

U.S. fuel prices near last month's levels, unlikely to change

Jan. 29 (UPI) -- Average fuel prices in the United States started the week at $2.26 per gallon, showing little change from the last month or last week, and may remain flat.

Venezuela's Guaido to name new boards of PDVSA and Citgo

Energy News // 5 years ago

Venezuela's Guaido to name new boards of PDVSA and Citgo

Jan. 29 (UPI) -- Venezuela's President of the National Assembly, Juan Guaido, will name new director boards at state oil company PDVSA and its United States subsidiary Citgo.

Major companies, cities buying into Texas' green energy boom

Energy News // 5 years ago

Major companies, cities buying into Texas' green energy boom

Jan. 28 (UPI) -- The U.S. wind industry is in a scramble to get a batch of turbine farms running in the next two years, before the federal government phases out a key tax credit.

Advertisement

Advertisement

Advertisement