Energy & Oil

Energy & Oil
Saturday, July 5th 2008 - 21:00 UTC

Petrobras sets during June new oil production record

Brazil's government managed oil and gas corporation Petrobras set a new monthly oil production record in Brazil in June: 1,867,000 barrels per day (bpd). This was 12,600 bpd higher than the previous record from last December with 1,855,000 bpd.

Thursday, July 3rd 2008 - 21:00 UTC

Rockhopper reports losses but insists in 2009 drilling

Oil and gas explorer Rockhopper Exploration Plc. reported a wider full-year pretax loss and said its target is to drill between two and four wells on its offshore acreages in the Falkland Islands.

Wednesday, July 2nd 2008 - 21:00 UTC

Saudi king: oil price cheap compared to alternative energy

Saudi Arabia King Abdullah

Saudi Arabia King Abdullah said on Tuesday that the current oil price was cheap compared to prices of alternative energy products available in the world and called upon people in consuming countries to adapt with rising oil prices.

Wednesday, July 2nd 2008 - 21:00 UTC

World in grip of third “oil shock” and no easy way out

IEA Executive Director Nobuo Tanaka

Oil supplies will remain tight despite record prices that have reduced demand and the world is in the grip of its third “oil shock”, according to the International Energy Agency report released this Tuesday in Madrid.

Tuesday, July 1st 2008 - 21:00 UTC

Oil corporations blame high prices on taxes and restrictions

The chief executives of Royal Dutch Shell Plc, BP Plc and Spain's Repsol YPF told the oil industry's biggest gathering in three years, in Spain that restrictions on where they can invest and high taxes meant they could not help boost supplies as much as they might.

Monday, June 30th 2008 - 21:00 UTC

Mercosur: Brazil plans to address food crisis and social affairs

The global food crisis and strengthening the regional social agenda are the two main issues which Brazilian president Lula da Silva will address during the next six months when his country holds the rotating chair of Mercosur.

Saturday, June 28th 2008 - 21:00 UTC

Crude record prices send global stock markets tumbling

Global stock markets have suffered a sell-off sparked by concerns about the global economy and crude oil prices which have hit a new record. New York's Dow Jones closed down 0.93%, or 106.9 points, at 11,346.51 as the cost of oil rose to a fresh high above $142 a barrel.

Friday, June 27th 2008 - 21:00 UTC

Oil breaks records and closer to 150 USD forecast

Oil futures shot above 140 US dollars a barrel on Thursday after OPEC's president said crude prices could rise well above 150 US dollars a barrel this year and Libya said it may cut oil production.

Wednesday, June 25th 2008 - 21:00 UTC

Uruguayan Offshore Field May Hold 3 Trillion Cubic Feet of Gas

Uruguay may have found an offshore natural gas field holding as much as 3 trillion cubic feet of resources during studies of exploration areas it plans to auction in July 2009, the country's state oil company said.

Wednesday, June 25th 2008 - 21:00 UTC

Uruguay down plays announcement of gas and oil discovery

Uruguayan authorities downplayed the announcement earlier this week of the discovery of significant natural gas reserves and “possibly” oil in the River Plate close to the Brazilian border.

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