Energy & Oil

Energy & Oil
Wednesday, May 6th 2009 - 12:44 UTC

Lula da Silva wants more “clean” energy but also “more crude”

PresidentLula da Silva shows the first oil retrieved from a layer of sub-salt on platform P-34 of Petrobras

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.

Wednesday, May 6th 2009 - 10:22 UTC

Brazil promises “fair and viable” solution for Itaipu differences with Paraguay

Celso Amorim  ever optimistic about a understanding with Paraguay

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.

Monday, May 4th 2009 - 07:55 UTC

Six companies present offers for potential natural gas deposits in Uruguay

Three years before commercial deposits are confirmed in the River Plate

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

Saturday, May 2nd 2009 - 09:45 UTC

Brazil launches project to become leading oil super-power

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.

Saturday, May 2nd 2009 - 09:39 UTC

“Itaipú proposal” waits President Lugo when he visits Brazil

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.

Friday, May 1st 2009 - 12:53 UTC

Brazil’s pre-salt basin oil extraction becomes commercial operation

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.

Thursday, April 30th 2009 - 12:19 UTC

Chilean energy company confirms coal mining in Magallanes

Mr. Roberto Angelini

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

Wednesday, April 29th 2009 - 11:28 UTC

Argentina’s energy sector under “persistent productive decadence”

“Argentina is clearly on the path to loosing energy self sufficiency”.

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.

Saturday, April 25th 2009 - 10:24 UTC

Petrobras establishes new production records during March

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.

Sunday, April 19th 2009 - 05:39 UTC

Huge LNG plant ready to open in Chile and cut Argentine dependency

The Quintero project has included the installation of a sea terminal to receive LNG from tanker ships

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.

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