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oil discovery

Oil & Gas

Going nuts for oil in Brazil

DESPITE global economic turmoil, especially in Europe, Brazil's petroleum industry is on a roll and set to remain a net oil exporter this year by volume, according to Jose Sergio Gabrielli, CEO of semi state-owned Petrobras.

Oil & Gas

Mozambique oil strike for Anadarko

ANADARKO has apparently made an oil discovery offshore Mozambique with an exploration well drilled into the Ironclad Prospect, which is located on the same block as the recent Windjammer gas discovery. It was in February that the US independent made a gas discovery with its Windjammer probe. Early estimates place reserves in the 4-10trillion cu ft range.