Energy & Oil

Energy & Oil
Saturday, March 14th 2009 - 14:54 UTC

Paraguay is asking Brazil to pay 16 times more for Itaipú energy

Lugo. “We would like a fair market price, we’re a poor country, and we need the resources”.

Paraguay is a poor country and is fighting for a fair market price for its share of energy generated at South America’s largest hydroelectric dam shared with Brazil. “Somehow we are subsidizing Brazil’s energy”, said Paraguayan president Fernando Lugo in an interview with the Spanish daily El Mundo.

Friday, March 13th 2009 - 06:25 UTC

OPEC consensus for another oil production cut

Venezuela will insist at this week end’s meeting in Vienna of the Organization of Petroleum Exporting Countries, OPEC, that the cartel needs to impose more production cuts, an influential lawmaker said in Caracas.

Thursday, March 12th 2009 - 08:55 UTC

Argentine oil provinces request floor price to ensure employment

Argentina’s oil and gas producing provinces are requesting from the Buenos Aires a floor price for hydrocarbons to ensure income from royalties for their weakened budgets.

Wednesday, March 11th 2009 - 23:39 UTC

Brazil/Uruguay summit agrees on free trade and energy integration

Thumbs up for relations between Lula and Vazquez

Brazilian president Lula da Silva said that relations with neighbouring Uruguay are at “their best level ever”, following a meeting Tuesday with visiting president Tabare Vazquez.

Tuesday, March 10th 2009 - 11:33 UTC

Oil company closer to begin drilling in North Falklands basin

Rockhopper Exploration, the North Falkland Basin explorer announced Monday that Environmental Impact Statement (EIS) documents prepared by RPS Energy in relation to planned future drilling activity have been submitted to the Falkland Islands Government. The EIS’s cover licences PL023, PL024, PL032 and PL033.

Saturday, March 7th 2009 - 09:52 UTC

Brazil begins commercial extraction of oil at 6.000 metres

We're going to extract the first barrels of oil at a depth of 6,000 meters. That is no small feat” said President Lula da Silva

Brazil's energy managed corporation Petrobras will extract its first crude oil from the potentially huge offshore Tupi field find, of late 2007, below the salt layer of the Santos basin next May, announced President Lula da Silva.

Thursday, March 5th 2009 - 17:23 UTC

Falklands’ oil company submits green impact report

As was anticipated Desire Petroleum has submitted an environmental impact assessment (EIA) to the Falkland Islands government it was reported in London.

Thursday, March 5th 2009 - 17:22 UTC

Exxon reports oil discovery off the Brazilian coast

Seadrill drillship West Polaris

United States ExxonMobil has notified Brazilian regulatory agency Agencia Nacional de Petroleo, Gas Natural e Biocombustiveis (ANP) that it has found indications of hydrocarbons in block BM-S-22 off the Brazilian coast. The discovery was made in well 1-ESSO-3SPS.

Thursday, March 5th 2009 - 16:54 UTC

Petrobras unveils ambitious bio-fuels expansion program

Brazil’s government managed oil and gas corporation Petrobras announced its bio-fuels business plan for 2009/2013 which involves 2.4 billion US dollars to increase the production of bio-diesel and ethanol, most of which to be sourced in Brazil.

Thursday, March 5th 2009 - 16:38 UTC

Successful drilling of new gas well in Magallanes region

GeoPark operates and has a 100% working interest in the Fell Block.

GeoPark Holdings has announced the successful drilling and testing of a new gas well - Yagan 1 - on the Fell Block in the extreme south of Chile at an initial production test rate exceeding 10 million cubic feet per day (mmcfpd) of gas.

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