Energy & OilEnergy & Oil
Brazilian President Lula da Silva said that while his government will continue promoting the use of “clean” energy sources such as ethanol and bio-diesel, he wants government managed oil company Petrobras to press ahead in the search for additional crude.
Brazilian president Lula da Silva and the ministerial cabinet will consider Wednesday a “fair and viable” solution to differences with Paraguay regarding the energy from the world’s largest operational hydroelectric dam, Itaipú, announced in Brasilia Foreign Affairs minister Celso Amorim.
Six foreign companies have presented offers to explore a natural gas deposit off Uruguay's Atlantic coast, announced Uruguay’s government owned oil company Ancap, Administración Nacional de Combustibles, Alcohol y Portland
Brazil government managed energy company Petrobras on Friday lifted the first sub-salt oil from the massive, ultra-deep, offshore Tupi field in the Santos basin, an action Brazil's government hopes will launch a new era for Latin America's largest economy.
Brazil could anticipate payments to Paraguay for the energy from the shared huge Itaipu dam, which should help the Treasury of the weakened President Fernando Lugo. However Brazil would also like to see an end to Paraguay’s intention of modifying the Itaipu dam accord, according to the Brazilian press quoting government sources.
Petrobras, Brazil’s state-managed oil company will begin Friday to extract oil from the off-shore pre-salt Tupi field and is “very secure” about production expectations, said Guilherme Estrella, head of exploration and production.
Roberto Angelini, president of the Chilean industrial Angelini conglomerate which owns petroleum distribution company COPEC, announced plans for COPEC's expansion in 2009, worth 678 million US dollars, despite the financial crisis
Since 2005 Argentina has consumed 25% of its natural gas reserves, 15% of oil reserves and the Mar Argentino (South Atlantic) which has “great possibilities remains virtually untouched”, reads a critical report on the outlook for the Argentine energy sector compiled by eight former Energy Secretaries from different governments.
Brazil’s government managed oil and gas corporation Petrobras established in March new production records, according to a release from the company. The average oil and gas production last month reached 2,315,276 barrels of oil equivalent per day (boed), 9.5% more than a year ago and 3% above last month’s mark.
Chile is just months away from beginning operations at a huge Liquid Natural Gas (LNG) re-gasification plant that was first planned during the Ricardo Lagos administration. The 1.1 billion US dollars plant is located near the Region V coastal city of Quintero.