Energy & Oil

Energy & Oil
Tuesday, October 20th 2009 - 11:51 UTC

New 2009 high for oil while US dollar keeps sliding

In spite of the bullish market volatility is the name of the game

The price of oil has reached a new high for 2009, continuing its recent rise on the back of the weak US dollar and strong US company results. US crude settled up $1.08 at $79.61 in New York trading.

Tuesday, October 20th 2009 - 07:51 UTC

Petrobras in new oil and gas output record prepares to drill sub-salt deposits

Production in September reached 2 million bpd

Brazil's government managed oil and gas company Petrobras said on Monday domestic oil output increased 1.2% in September, compared with August, to a record high as it completed platform maintenance and boosted output at some wells. The new record is 2 million bpd from 1.98 million bpd in August.

Monday, October 19th 2009 - 12:46 UTC

Chile opens Wind Park to supply 57.000 homes

In a few years wind power will fuel 15% of Chile’s electricity demand

Chilean president Michelle Bachelet inaugurated last week the country's largest wind park. The Monte Redondo project demanded a 100 million US dollars investment and will have a production of 38 megawatts, which will power 57 thousand homes.

Thursday, October 15th 2009 - 12:13 UTC

India and Argentina sign nuclear cooperation and trade agreements

Indian Prime Minister, Dr Manmohan Singh, greets the Argentine President, Mrs. Cristina Kirchner

India and Argentina signed a civil nuclear pact and nine other agreements to help boost bilateral trade and investment. Argentine President, Ms Cristina Fernandez de Kirchner, on a state visit to India, signed the agreements after extensive discussions with Prime Minister, Dr Manmohan Singh.

Wednesday, October 14th 2009 - 09:39 UTC

OPEC optimistic about global recovery anticipates stronger demand for oil

The cartel currently supplies the world with 28.9 million barrels per day

The Organization of the Petroleum Exporting Countries (OPEC) has predicted for next year an increase in global demand for oil driven by a global economic recovery. The 12-nation cartel said in its latest monthly report that 2010 world demand for crude would be 84.93 million barrels per day for an increase of 0.83%.

Friday, October 9th 2009 - 05:20 UTC

Rockhopper confirms drilling of two wells in Falklands’ waters

A busy summer of oil exploration in the South Atlantic

Rockhopper Exploration oil and gas company which operates in the North Falkland Basin confirmed this week it was considering various options, including a share sale, to fund drilling activities scheduled to begin this coming austral summer in the South Atlantic

Tuesday, October 6th 2009 - 01:19 UTC

Desire’s un-risked oil prospect in Falklands’ waters over 3 billion barrels

The CPR covers Desire’s top ten prospects

Desire Petroleum prospective un-risked recoverable resources net in Falkland Islands waters are over 3 billion barrels of oil in the company’s ten top prospects according to the recently completed Competent Person’s Report, CPR and released this week.

Tuesday, October 6th 2009 - 01:15 UTC

World gas conference in Argentina to discuss supply-demand balance

IGU president Ernesto Lopez Anadón said natural gas will provide 32% of global energy in 2030

Ministers, industry leaders and experts from 81 countries are meeting in Buenos Aires for the 24th World Gas conference with one main topic in the agenda: the balance between natural gas supply and demand.

Saturday, October 3rd 2009 - 00:23 UTC

Desire will drill four exploratory wells in North Falkland basin next February

The map shows the area where “Ocean Guardian” will be drilling

Oil company Desire Petroleum announced Friday the formal signing of a rig contract with Diamond Offshore Drilling Ltd. from the UK which means the company is ready to begin its exploratory drilling campaign in the North Falkland basin this summer.

Saturday, September 26th 2009 - 06:42 UTC

Itaipú agreement remains stalled; Lula da Silva blames Congress

Dilma Rousseff said Brazil “yielded too much” in the July agreement

The coming electoral year makes it difficult for the Brazilian congress to approve in the short term the agreement reached with Paraguay referred to the surplus energy from the world’s largest operational hydroelectric dam Itaipú, signed last July by presidents Lula da Silva and Fernando Lugo.


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