Energy & OilEnergy & Oil
Brazil and Peru are considering five hydroelectric projects that would cost as much as 15 billion US dollars, revealed Brazilian Energy Minister Edison Lobao.
United States is prepared to provide up to 10 billion US dollars in loans to finance the development of massive hydrocarbon reserves off Brazil’s coast, revealed Brazil’s Planning Minister Paulo Bernardo da Silva.
Brazilian government controlled Petrobras entered the Chilean fuel distribution market in Chile with the inauguration Tuesday of a service station in Santiago. The company paid 400 million US dollars for US-based Exxon-Mobil’s stake in Esso Chile Petrolera and other units in the Andean nation and has targeted a 20% share of the market.
Brazilian President Lula da Silva wants the government to take control of Vale SA, according to the weekly magazine Veja. However the origin of the information was not revealed.
Nigeria has lost about 7 trillion naira (47 billion US dollars) as a result of the shut-in of the Shell Petroleum Development Company (SDPC) output since 2006 in the country the Lagos based Compass newspaper reported this week.
Currently Argentina is only sending 10% of the agreed quantity of natural gas to its Andean neighbour, Chile. Faced with an energy crisis beginning to impact upon economic growth, Chile was forced to scour the globe for energy sources says Eugenio Chinchon, a Chilean business development manager specializing in renewable energy.
After having reached an understanding with Brazil, Paraguay next month plans to begin negotiations with Argentina to claim better conditions for the power generated from the Yaciretá dam which both countries share.
Russia is to begin oil exploration in the Gulf of Mexico, after signing a deal with Cuba, says Cuban state media. Russian Deputy Prime Minister Igor Sechin signed four contracts securing exploration rights in Cuba's economic zone in the Gulf.
WORK towards a hydrocarbon drilling programme in the Falkland Islands continues to progress with the news that Environmental Impact Assessments (EIAs) are soon to be submitted by Desire Petroleum and Rockhopper Exploration to Executive Council for approval.
Brazilian government managed oil corporation Petrobras said late Tuesday in an official release that it has drilled eleven wells in the promising Santos Basin region, with all of the wells testing positive for oil or natural gas.