Energy & OilEnergy & Oil
Argentina's natural gas reserves have dropped dramatically from a 25 years horizon to just 9 years between 2001 and 2005, according to a report from the Nation's General Auditing Office, AGN, covering 1993 to 2006.
The specter of energy shortages in Chile reared its head again this week, as the Ministry of Economy released a short-term plan to confront the country's increasingly perilous energy scenario, particularly the prospect of electricity rationing, which the government last instituted in 1998. The order contains 30 points that intend to help Chile's electricity providers to operate responsibly in the coming year.
Argentina is planning to import, by sea, liquid gas, LNG, in the coming months in an effort to anticipate and contain a repeat of past winters shortages, reports the Friday edition of the Buenos Aires press.
Algeria, Iran, Qatar, and Russia are holding consultations on the creation of an OPEC-like gas cartel, with the structure of the organization being the main topic on the agenda, said Iranian Ambassador to Russia Gholmreza Ansari.
The Organization of Petroleum Exporting Countries (OPEC) should not interfere with production quotas at its meeting on March 5 if prices remain at their current levels, said Rilwanu Lukman, oil adviser to the President of Nigeria. Oil prices this week hovered in the range of 100 US dollars a barrel.
Brazilian president Luiz Inacio Lula da Silva forecasted that the current energy crisis will extend for at least another four years both for Brazil and Argentina since only then, Bolivia will be producing sufficient natural gas to supply domestic and neighboring markets.
Next November Uruguay will extend a formal invitation to all those oil companies interested in considering the hydrocarbons potential of the country, based on a battery of data collected during the last few years, according to top officials from the country's government owned petroleum and fuels monopoly Ancap.
Falkland Islands hydrocarbons exploration development and the potential to hire a rig for a minimum six-well drilling program advanced considerably on Monday when Desire Petroleum announced that it had accepted the terms of an offer to farm in to three of the company's eighteen exploration prospects in the North Falkland basin.
The first flight by a commercial airline to be powered partly by biofuel is to take off from London.
In spite of the smiles and pictures the Buenos Aires presidential summit of leaders from Argentina, Brazil and Bolivia could not agree on a way out to the energy and distribution situation that threatens the three countries this coming winter and apparently could only be solved in the mid term.