Energy & OilEnergy & Oil
Brazil's state-run oil company announced Monday it will invest 224 billion US dollars through 2014 and double production by 2020. About 95% of that will be invested in Brazil.
Cuban Vice President Ramiro Valdes issued a call to “step up” energy-saving measures on the island in the face of the increase in electricity use in recent months, official Communist Party daily Granma said Thursday.
Peru forecasts a liquid hydrocarbons production of half a million barrels per day in five years time, said Daniel Saba head of Perupetro the country’s company that awards and supervises all oil and gas contracts.
Russia overtook Saudi Arabia to become the world's leading oil producer in 2009, while global oil consumption fell the most since 1982, BP has said. According to the oil giant's latest Statistical Review of World Energy, Russia increased oil production by 1.5% in 2009, claiming a 12.9% market share.
Venezuelan President Hugo Chavez suspended a national electricity rationing plan, saying that the grid had been strengthened by new investments in thermoelectric plants and heavy rains that filled up reservoirs. He also wants Venezuelans to watch the World Cup in South Africa.
For Brazil the renegotiation of the Itaipú dam treaty between Brazil and Paraguay ‘is over’ following on last year’s declaration of Presidents Lula da Silva and Fernando Lugo, said Marco Aurelio García the Brazilian president main advisor in international affairs.
Venezuela extended for another sixty days the national power emergency which has first imposed last February to address the energy crisis punishing the country. The new extension was published in the Official Gazette 7 June, effective June 8 and follows on the previous 60 days period from April.
Rockhopper Exploration announced on Tuesday it had raised £48.5m from the stock market to fund its drilling operations off the Falklands Islands. Last week Rockhopper revealed that its first well in the North Falkland Basin, called Sea Lion, had found much more oil than expected.
Desire Petroleum plc (AIM:DES) the exploration company focusing on the North Falkland Basin is pleased to announce that, at the Annual General Meeting of the Company held today, all resolutions were passed.
Brazil’s government managed oil and gas corporation Petrobras announced Monday it had controlled an oil leak at an offshore platform in the Campos Basin, 160 kilometers from Rio do Janeiro.