Energy & Oil

Energy & Oil
Sunday, October 12th 2008 - 20:00 UTC

Chile in summer time, forwards clocks 60 minutes

Chile is in summer time with clocks having advanced sixty minutes during the weekend. This means that Chile's Dalylight Summer time is three hours behind Greenwish mean time.

Saturday, October 11th 2008 - 21:00 UTC

Price of crude has plunged 50% since July's peak

The price of crude oil has now plunged by almost 50% since striking record high levels above 147 US dollars per barrel on July 11. Trading on Friday was below 80 US dollars a barrel as demand declines amid a worsening economic outlook caused by a global credit crisis.

Wednesday, October 8th 2008 - 21:00 UTC

Oil below 90 USD prompts OPEC emergency meeting

OPEC is consulting on whether to hold an emergency meeting on November 18 to discuss the impact of the global financial crisis on the oil market, Libya's top oil official said on Wednesday.

Tuesday, October 7th 2008 - 21:00 UTC

FAO underscores “opportunities and risks” of bio-fuels

Food security, land and water should be included in biofuels equation

Global bio-fuel policies should be urgently reviewed to ensure that the world's poor benefit by ending trade-distorting subsidies favouring developed nations while countering the rise in food prices sparked by the diversion of foodstuff to energy production, according to a new United Nations report released today.

Monday, October 6th 2008 - 21:00 UTC

Mrs. Kirchner opens oil exploration in South Atlantic

CFK surrounded by oil rig workers in the Argentine sea

Argentine president Cristina Fernandez de Kirchner officially marked on Monday the beginning of operations of a South Atlantic oil rig, the first to be fully financed by Argentine government and private investors.

Saturday, October 4th 2008 - 21:00 UTC

“Suitcase” airport official contradicts Antonini's version

   Maria del Lujan Telpuk in Miami

A former Argentine airport officer who became a model and television star testified in a US court Friday about discovering a suitcase stuffed with nearly $800,000 in cash brought to a Buenos Aires airport from Venezuela.

Friday, October 3rd 2008 - 21:00 UTC

World oil demand at its lowest in 5 years; outlook bearish

The outlook for oil demand is weakening, shifting the sentiment of oil markets from bullish to bearish according to a report from the Saudi Arabia's Arab News daily.

Thursday, October 2nd 2008 - 21:00 UTC

Uruguay/US sign renewable energy memorandum

Minister Fernandez and Secretary Shannon signing the Memorandum

United States and Uruguay signed Wednesday in Washington a memorandum to advance bilateral cooperation on renewable energy and energy efficiency. The document was signed by Assistant Secretary of State for Western Hemisphere Affairs Thomas A. Shannon and Uruguayan Foreign Affairs Minister Gonzalo Fernández

Wednesday, October 1st 2008 - 21:00 UTC

Ecuador calls on Europe to reform migration policies

Ecuador spoke out against the European Union's policy on migration during the General Assembly's annual high-level debate Tuesday, stressing the need to protect the right of people to move freely.

Wednesday, October 1st 2008 - 21:00 UTC

Europe fines nine oil companies for the “paraffin mafia”

The European Commission fined on Wednesday nine petrochemical companies a total of 676 million Euros for forming a “paraffin mafia” to fix prices and carve up markets for wax.

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