Los Angeles. Venezuela has nationalized 11 oil rigs belonging to Tulsa-based Helmerich & Payne (H&P), making good on earlier promises to prevent international firms from "stymieing" the country's production of crude oil (OGJ Online, June 25, 2010).

"We reviewed the report from the oil ministry and consider the decision pertinent," said Jesus Graterol, president of the congressional energy commission, said on National Assembly television.

Braziia. As part of a series of reports from Brazil, Margaret Warner examines how a country that already uses a great deal of energy from renewable sources is hoping to further develop its oil drilling reserves, even as the Gulf spill raises new environmental concerns about deepwater oil exploration.

Caracas. Vietnam and Venezuela have signed a contract to set up a joint venture to develop the offshore Junin-2 oil and gas block, the government of Vietnam said Wednesday.

Vietnamese Deputy Prime Minister Hoang Trung Hai led a delegation that arrived in Caracas Tuesday to sign the contract, which will help boost cooperation in oil and gas production between the two countries, the government said in a statement posted on its website.

Brasilia. Total announces the acquisition of a 20% interest from Shell in the BM-S-54 license in the Santos Basin. Shell holds the remaining 80% and keeps the operatorship. This acquisition is subject to approval from the Brazilian authorities. The offshore block, located about 200 kilometres south of Rio de Janeiro, covers an area of 700 square kilometres in water depth of approximately 2,000 metres.