Energy & OilEnergy & Oil
Bolivia and Russia signed a long term agreement on investment and cooperation in the area of gas and petroleum research which is estimated could reach 3 billion US dollars, it was announced in La Paz.
Brazil needs to increase its electricity generation capacity by 50% over the next 10 years said Energy Minister Edson Lobao, who described the task as an enormous challenge.
The US Senate has passed an economic stimulus plan expected to cost some 838 billion US dollars. The Democratic-controlled Senate voted 61-37 to approve the measure, with few Republicans opting to back it.
Karl-Theodor zu Guttenberg is to become Germany's new economy minister, following the surprise resignation of his predecessor Michael Glos. Mr Zu Guttenberg has been proposed by his party, the Bavarian-based Christian Social Union (CSU), and his appointment is due to be a formality. At 37-years-old, he will become the youngest ever person to fill the role.
The oil cartel OPEC is willing to cut crude output further at a meeting in March, the group's secretary-general said on Monday in London. But he also underlined he would like to see full compliance of members with existing curbs first.
Russia announced it was temporarily suspending beef imports from United States, Canada, Uruguay, Byelorussia and Ukraine because banned noxious substances had been detected in some shipments.
Brazil's government managed oil and Petrobras was elected the leading ethical reputation multinational enterprise by Geneva-based Covalence Ethical Ranking 2008.
Restoring financial health will require a three-pronged approach, involving the continued provision of ample liquidity and term funding support from central banks, dealing promptly and aggressively with distressed assets, and recapitalizing viable institutions with public funds.
Repsol has made a significant new oil find in the deepwater area of the Gulf of Mexico, in US waters. The discovery was made in the Buckskin well in Keathley Canyon, 300 kilometres offshore Houston.
Magallanes region in the extreme south of Chile is becoming the energy centre of the country based primarily on the development of coal resources and the exploration for hydrocarbons said Chile's National Energy Commission president Marcelo Tokman.