• Most Popular
  • Most Shared

Canada's Talisman strikes oil in Peru - president

Sat Nov 7, 2009 2:29pm EST

Stocks

   

LIMA, Nov 7 (Reuters) - Canada's Talisman Energy Inc has found light crude in an exploration bloc in northern Peru, President Alan Garcia said on Saturday, days after he announced a large natural gas find in an Amazon region.

Stocks  |  Global Markets  |  Brazil  |  Energy

Talisman (TLM.TO), Canada's third-biggest independent oil explorer, found the light crude deposit in the Maranon basin close to the border with Ecuador, Garcia told reporters.

"Talisman has found ... light crude that will be suitable for mixing with heavy crude to be able to transport it via pipeline," he said.

Garcia, who is facing calls to secure the Andean nation's future energy supplies, said earlier this week that Brazilian state energy firm Petrobras (PETR4.SA) (PBR.N) had found a large deposit of natural gas in the Peruvian Amazon.

However, the Brazilian company said on Friday it was still studying drilling results from lot 58 in an Amazon jungle region and was yet to estimate the size of the deposits.

Peru, which is trying to become a net energy exporter, is encouraging foreign companies to invest in the industry to boost production.

No one could immediately be reached at Talisman to comment. (Reporting by Teresa Cespedes; Writing by Helen Popper, editing by Philip Barbara)

Stocks
Global Markets
Brazil
Energy


More from Reuters

Photo

U.S. probing if al Qaeda linked to airplane incident

WASHINGTON (Reuters) - The United States is investigating whether al Qaeda was involved in a Christmas Day attempt to blow up a passenger jet, but there is no early evidence the Nigerian suspect in the case was part of a larger plot, the U.S. homeland security chief said on Sunday. | Video

» More Top News
A Delta Airbus 330 airliner sits on a runway at Detroit Metropolitan Airport in Romulus, Michigan in this video grab made December 25, 2009. Credit: REUTERS/WDIV TV/Handout

The battle in mid-air

The attraction of bombing airliners means the aviation industry has to be constantly vigilant in its fight against attackers.  Full Article 

U.S.
A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
Political Risk in 2010:

Don't say we didn't warn you

With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

Global Markets