Energy & Oil

Energy & Oil
Wednesday, June 25th 2008 - 21:00 UTC

Uruguayan Offshore Field May Hold 3 Trillion Cubic Feet of Gas

Uruguay may have found an offshore natural gas field holding as much as 3 trillion cubic feet of resources during studies of exploration areas it plans to auction in July 2009, the country's state oil company said.

Wednesday, June 25th 2008 - 21:00 UTC

Uruguay down plays announcement of gas and oil discovery

Uruguayan authorities downplayed the announcement earlier this week of the discovery of significant natural gas reserves and “possibly” oil in the River Plate close to the Brazilian border.

Monday, June 23rd 2008 - 21:00 UTC

Oil summit: more investment needed for “adequate” supply

Leading oil exporters have acknowledged the need to boost supplies to curb soaring prices but stopped short of specific commitments on extra output. Following their week end crisis summit in Saudi Arabia, officials noted price levels were “hostile” and more investment was needed to ensure “adequate” supplies.

Sunday, June 22nd 2008 - 21:00 UTC

S. America's peoples celebrate the winter solstice new year

The indigenous peoples of South America from the Andes highlands to the extreme south of Chile celebrated early Saturday the arrival of the winter solstice which signals the beginning of a new year.

Saturday, June 21st 2008 - 21:00 UTC

Oil prices challenge divide EU: new plan next October

European Union leaders have agreed to a 3-month study to find ways of cushioning the impact of soaring energy prices on the region's citizens. At an energy summit in Brussels, ministers discussed plans to ease the pain of record oil and gas prices on consumers and companies.

Thursday, June 19th 2008 - 21:00 UTC

China hikes fuel prices 18% causing petroleum to drop

China, the world's second-largest consumer of oil, is to raise the price of petrol and diesel by 18%. The move, which could depress demand for oil from the fast-growing economy, caused the price of crude to fall 4 US dollars.

Monday, June 16th 2008 - 21:00 UTC

U.S. remains dominant in science and technology

United States remains the dominant leader in science and technology worldwide despite perceptions that the country is losing its competitive edge, according to a RAND Corporation.

Monday, June 16th 2008 - 21:00 UTC

New natural gas discoveries in Magallanes Region

GeoPark Holdings Limited announced the discovery of two new gas fields in the extreme south of Chile, the Magallanes Region. The gas fields are on the Fell Block following the successful drilling and testing of the two new gas wells.

Sunday, June 15th 2008 - 21:00 UTC

The Group of Eight (G8) concludes no quick fix for oil prices

There are no quick fixes to soaring oil and food prices, Group of Eight finance ministers concluded on Saturday, although disagreements emerged about the role that speculators were playing in exacerbating price rises.

Sunday, June 15th 2008 - 21:00 UTC

Saudi Arabia will pump 200.000 bpd of extra oil next July

Saudi Arabia plans to increase its oil production by 200.000 barrels a day next month, the kingdom's oil minister told U.N. chief Ban Ki-moon on Sunday, according to Ban's spokesman. By July Saudi Arabia's output should be almost 10 million bpd.

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