Reuters reported that Chevron (NYSE:CVX) and YPF SA (NYSE:YPF) have signed a memorandum of understanding to explore for natural gas and shale oil in Argentina's Vaca Muerta field. Repsol SA, which had its stake in YPF seized by the Argentinian government earlier this year, plans to take legal action against Chevron.
Reuters reported that Spain's Repsol SA has discovered as much as 1 to 2 trillion cubic feet of natural gas in block 57 of Peru's Camisea fields.
Bloomberg reported that Petroleo Brasileiro SA (NYSE:PBR), better known as Petrobras, is reviewing its investment in a Peruvian joint natural gas project with Repsol SA as it divests assets to better focus on developing its offshore oil reserves.
Reuters reported that Total SA (NYSE:TOT), Spain's Repsol (OTC Pink:REPYY) and Austria's OMV (OTC Pink:OMVKY) signed an agreement with Bulgaria that allows them to explore for gas and oil in the Khan Asparuh block. The 14,440 square kilometer block is located off Bulgaria's Black Sea coast and could produce up to 84 billion cubic meters of gas.
Shale gas has already been dubbed a ‘game changer’ for US energy markets - these three hotspots may prove to be just as fruitful.
Repsol has signed natural gas supply deals from its newly built Canaport terminal in New Brunswick which has slated to receive its first tanker June 22, Vice President of Repsol Energy North America Vincent Morrissette. For full story, click here
Repsol YPF SA, Spain’s leading oil company has found natural gas in the Santos Basin off the coast of Brazil. For full story, click here
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