Energy & OilEnergy & Oil
The world's largest gas company, Russia's Gazprom and Bolivia's government owned oil corporation YPFB signed this week in La Paz an accord to explore for gas in three of the country's southern fields.
Methanex in the extreme south of Chile announced this week it will have to cut its work force in approximately 15% because of the insufficient supply of Argentine natural gas.
Brazil is considering raising taxes paid by companies to explore for new oil and gas fields in the country to take into account recent big finds in the sub-salt cluster, Brazilian energy Minister Edison Lobao said on Tuesday.
Following on Brazil's National Energy Policy Council recommendations the President Lula da Silva administration has given the green light for the resumption of construction of the third reactor at the Angra nuclear power plant, reports Sao Paulo's Gazeta Mercantil.
Exxon Mobil Corp.'s freeze on $12 billion of assets belonging to Venezuela's state oil company was overturned by a U.K. court in a set-back for the U.S. energy company in its dispute with President Hugo Chavez.
Brazil's government managed oil corporation Petrobras and Shell have signed a liquefied natural gas (LNG) firm supply agreement to furnish the Pecém (Ceará) and Baía de Guanabara (Rio de Janeiro) re-gasification terminals.
Oil prices which reached 110.20 US dollars a barrel and the Euro which hit a new record high of 1.55 US dollars seem to have reduced the central banks concerted effort to a mere one day good intention.
Chile and Ecuador will join in exploring for oil in the Gulf of Guayaquil, visiting Ecuadorian President Rafael Correa said Monday in Santiago.
Argentina will raise taxes on the country's natural gas exports in an effort to ensure domestic energy supplies, Planning Minister Julio De Vido said on Monday. The amount of the increase was not immediately disclosed but the move hiked taxes already in place on Argentine natural gas exports.
Argentina and Venezuela are countries of absolute and necessary complementation in the context of the main axis of the XXI century, food and energy said Argentine president Cristina Fernandez de Kirchner on Thursday following the signing of food for energy agreements with Venezuela's Hugo Chavez.