Energy & OilEnergy & Oil
The average price of regular gasoline has reached a new record in United States but adjusted to inflation and linked to the GDP, the bill is still lower than that of 1981, according to the US Energy Information agency, EIA.
Brazilian president Lula da Silva one day visit to Paraguay to sign several bilateral agreements and officially inaugurate the expanded capacity of the huge bi-national Itaipu dam along the Parana river was signaled by strong criticism from the local press.
Brazilian President Luiz Inacio Lula da Silva has given the green light to build a long-delayed third nuclear plant in Brazil, reported the Sao Paulo press.
The following statement will be made by FOGL's Chairman, Richard Liddell, at the Company's Annual General Meeting to be held today:
Spanish oil company Repsol YPF is interested in finding a local minority partner in its Argentine YPF subsidiary, Repsol YPF president Antonio Brufau said at a company shareholder meeting. The stake could be from 15-20% of YPF, which is valued at roughly 18 billion US dollars.
Argentina's erratic supply of natural gas had a direct impact on the Magallanes Region economy according to the latest official release from the Chilean Statistics Office.
United States consumer prices increased by 0.4% in April, down from 0.6% in March with prices of goods such as clothing offsetting higher petrol costs, according to the latest release from the US Labor Department.
Petrobras Brazil's government owned hydrocarbons company said first-quarter profit fell 38% as oil prices dropped and costs rose. Net income dropped to 4.13 billion reais (2.05 billion US dollars), 6.68 billion reais in the first quarter of 2006, and net sales rose 8.4 % to 38.98 billion reais.
Bolivia and Brazil have reached agreement after an acrimonious dispute over the nationalisation of two oil refineries in Bolivia owned by Petrobras, the Brazilian government-controlled oil group.
Former U.S. Vice President Al Gore warned that the drive to produce alternative fuels to combat global warming must not create new forms of environmental damage.