South America

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Sat 6 May 2006

India, China bid for oil firm

Posted by Darragh Field under Peakist , Peak Oil , Geopolitics , China , India , Resource , South America
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NEW DELHI: India and China have come together once again to jointly bid for a stake in an oil venture in faraway Colombia for some $800 million.

ONGC Videsh Ltd (OVL), the overseas arm of state-run Oil and Natural Gas Corp, and China Petroleum and Chemical Corp (Sinopec) have jointly submitted a bid to acquire stake in the Ominex de Colombia - a subsidiary of the Texas-based Ominex Resources Inc.
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Tue 2 May 2006

Bolivia gas under state control

Posted by Darragh Field under Peakist , Peak Oil , Energy , Resource , Gas , South America
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Bolivia’s President Evo Morales has signed a decree placing his country’s energy industry under state control.

In a May Day speech, he said foreign energy firms must agree to channel all their sales through the Bolivian state, or else leave the country.

He set the firms a six-month deadline, but the military and state energy officials have already started taking control of the oil fields.

(more…)

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