Energy & Oil

Energy & Oil
Monday, June 15th 2009 - 07:45 UTC

Cuban Oil: Havana’s Potential Geo-Political Bombshell

As the US President Barack Obama administration slowly inches towards normalizing its relations with Cuba, pressure is mounting on the new president to lift the decades-old, and universally acknowledged, anachronistic embargo.

Thursday, June 11th 2009 - 09:05 UTC

Latinamerica forecasted to contact 1.7% with mild recovery at end of 2009

Less trade flows, remittances and tourism is heavily impacting on Latam

Latinamerica will experience this year a 1.7% contraction (negative growth), the first time since 2002, basically because of a severe fall in global trade and remittances according to the United Nations Economic Commission for Latinamerica and the Caribbean, CEPAL.

Thursday, June 11th 2009 - 06:21 UTC

Low inventories push crude to 71 USD, highest in seven months

Oil production in 2008 increased boosted by OPEC; non OPEC output was down 1.4%.

Crude prices continued to surge on Wednesday, rallying on the news that US inventories fell more than expected and Chevron confirmed a fire at its Nigerian oil facility. Light, sweet crude for July delivery jumped 1.32 dollars, 1.9%, to settle at 71.33 dollars a barrel on the New York Mercantile Exchange, the highest close in seven months.

Tuesday, June 9th 2009 - 09:44 UTC

Repsol, Petrobras and BP to explore for oil next to Falklands’ waters

Oil exploration activity in the South Atlantic seems to be speeding up.

A consortium led by Spanish oil firm Repsol YPF SA (REP) plans to explore for oil in international waters between Argentina and the Falkland Islands, officials from the company said Monday.

Tuesday, June 2nd 2009 - 10:35 UTC

Next July Chile begins to cut its Argentine natural gas dependency

Re-gasification facilities at Quintero, the first LNG terminal in South America

After years of import disruptions and domestic gas shortages, Chile’s energy industry is now eagerly awaiting the arrival of the first liquefied natural gas (LNG) shipment to the country’s new LNG terminal, located in the city of Quintero (Region V).

Tuesday, June 2nd 2009 - 10:25 UTC

Patagonia will have the world’s most important wind power park

Argentina could become Latinamerica’s leader in green energies

Spanish energy company Grupo Guascor will build a 2.4 billion US dollars wind power park in Argentine Patagonia, which could be the largest in the world said on Monday Jose Grajales president of the corporation

Monday, June 1st 2009 - 08:17 UTC

Blackouts in Cuba if companies don’t comply with restrictions

An electricity meter “installation” in Old Havana

The Cuban government has threatened with cutting power to companies and entities that do not comply with the “exceptional measures” which become effective Monday to save fuel and help the rapidly deteriorating island’s economy, aggravated by the current global financial crisis.

Friday, May 29th 2009 - 11:38 UTC

Boreal summer and OPEC push oil to new six-month high

Low inventories in the US and the coming holiday season have helped turn the oil market bullish

Oil surged past 65 US dollars a barrel on Thursday to a fresh six-month high after OPEC decided to keep output unchanged and data showed a steep drop in US crude inventories.

Friday, May 29th 2009 - 08:43 UTC

Itaipú is a “political problem”, says Lula da Silva’s main advisor

Marco Aurelio García is reasonably positive about finding a “common denominator” to the dispute.

Differences between Brazil and Paraguay over the world’s largest operational hydroelectric dam, Itaipú, are a “political problem” and not an energy issue according to Marco Aurelio García, international affairs advisor to the Brazilian Executive.

Friday, May 29th 2009 - 05:04 UTC

Brazil discovers the benefits of efficient cook stoves.

The new cook stove cut the use of wood as a fuel drastically

Woodland in Brazil is being cut down, day after day. The local people say they need it to make a living. This is not the Amazon rainforest deforestation, but the woody landscape of Caatinga in the North Eastern corner of Brazil. Caatinga’s inhabitants are cutting wood for cooking.

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