Energy & Oil

Energy & Oil
Saturday, August 8th 2009 - 14:00 UTC

Brazil and Peru considering building five hydroelectric dams

Energy short Brazil needs to increase its power capacity by 50% in ten years

Brazil and Peru are considering five hydroelectric projects that would cost as much as 15 billion US dollars, revealed Brazilian Energy Minister Edison Lobao.

Friday, August 7th 2009 - 07:19 UTC

US financial support for Brazil to develop massive offshore pre-salt oil deposits

China had previously loaned Petrobras a similar sum

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.

Friday, August 7th 2009 - 07:00 UTC

Petrobras begins operations in Chile and targets 20% of fuels’ market

The Brazilian oil giant purchased Exxon-Mobil’s assets in Chile

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.

Sunday, August 2nd 2009 - 11:57 UTC

Lula da Silva wants control over world largest iron-ore producer

Vale’s CEO Roger Agnelli decision to cut jobs and investments did not satisfy the Brazilian president

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.

Sunday, August 2nd 2009 - 11:50 UTC

Nigerian oil debate: losses since 2006 amount to 47 billion USD says Shell

The Lagos government wants a profit-driven national oil corporation like those in Brazil, Malaysia and Saudi Arabia.

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.

Friday, July 31st 2009 - 07:56 UTC

Wind Power Investment: Blowing Towards Chile

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.

Thursday, July 30th 2009 - 14:13 UTC

Energy dispute: having agreed with Brazil, Paraguay now targets Argentina

Yaciretá on the Paraná River generates 3.000 MW/hour

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.

Thursday, July 30th 2009 - 13:59 UTC

Russia and Cuba sign Gulf of Mexico oil exploration agreement

Anywhere from 5 to 20 billion barrels of oil wait offshore Cuba

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.

Wednesday, July 29th 2009 - 16:18 UTC

Falklands: EIAs to ExCo as drilling preparation continues

A box corer is deployed to retrieve benthic samples - benthic data is used to form an Environmental Baseline Survey, which in turn forms part of a company’s EIA (photo RPS Energy)

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.

Wednesday, July 29th 2009 - 12:18 UTC

Dry wells controversy erupts in Brazil’s sub-salt basins drilling

Petrobras claims 87% success in sub-salt drilling but other sources mention 32% as dry or non commercially viable

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.

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