Energy & Oil

Energy & Oil
Thursday, August 7th 2008 - 21:00 UTC

Brazil and Paraguay ready for the Itaipu energy price dispute

Paraguay and Brazil are preparing for a long dispute over prices from energy generated in South America's largest dam, shared by the neighboring countries, but which is almost entirely absorbed by the industrial hub of Sao Paulo.

Thursday, August 7th 2008 - 21:00 UTC

Petrobras announces new light oil discovery off Rio

Brazil's government managed oil and gas corporation Petrobras announced on Thursday a new discovery of light oil with an API grade of around 30 in the ultra deep Santos Basin off the Sao Paulo coast.

Monday, August 4th 2008 - 21:00 UTC

Brazil authorizes expansion of nuclear power program

Angra nuclear plant

The Brazilian government has authorized the resumption of plans to expand the country's nuclear power program, basically a third power plant. Work on the Angra 3 reactor, near Rio de Janeiro, has been stalled for 22 years by a lack of money and political issues.

Sunday, August 3rd 2008 - 21:00 UTC

“Cool UN” initiative: dress causal and turn down air conditioning

Ban Ki-moon in short sleeves sets the example

Critics who say the United Nations only churns out hot air will find even more of the stuff if they visit the UN New York headquarters this month. Under the Cool UN initiative, the air conditioning will be turned down and temperatures will rise several degrees.

Saturday, August 2nd 2008 - 21:00 UTC

Venezuela to help Bolivia boost natural gas production

Bolivia with the help of Venezuela unveiled a plan to increase the country's natural gas reserves to supply energy thirsty neighbors, Brazil and Argentina. Bolivia has 48.7 trillion cubic feet of proven and probable natural gas reserves, the second-largest deposits in South America after Venezuela.

Saturday, August 2nd 2008 - 21:00 UTC

Spain and Chile plan largest wind farm in South America

Chile and Spain will spend more than one billion US dollars to set up Latin America's largest wind farm in the South American country, according to the Spanish news agency EFE.

Friday, August 1st 2008 - 21:00 UTC

Ecuador and Chile join to explore for gas in Guayaquil gulf

Ecuador government owned petroleum corporation Petroecuador announced this week the creation of a joint company with Chile's counterpart, ENAP, to explore for natural gas in the Guayaquil gulf.

Wednesday, July 30th 2008 - 21:00 UTC

Oil exploration in Magallanes Region begins next month

Several international oil companies awarded exploration blocks in Chile's extreme southern Magallanes region should begin oil and gas exploration in August, the government said on Tuesday.

Wednesday, July 30th 2008 - 21:00 UTC

Alternative energy: 12 wind turbines for Valparaiso

Plans are underway in Chile to invest 47 million US dollars in a wind park at Punta Curaumilla in Region V's Laguna Verde. The project comprises of 12 wind turbines with a 2MW capacity each and seeks to light up 10,000 homes and businesses in the Valparaíso region.

Tuesday, July 29th 2008 - 21:00 UTC

OPEC president predicts oil below 100 USD a barrel

OPEC president Chakib Khelil

The price of crude sunk to below 121 US dollars a barrel, touching on its lowest point since May, in the wake of a strengthening dollar and the comments of OPEC president Chakib Khelil, who called current prices “abnormal” and predicted that the barrel price could sink below 100 dollars in the long term.

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