Twenty companies and consortia from eleven different countries have shown a firm interest in the exploration and production of hydrocarbons in Magallanes region in the extreme south of Chile.
Argentina is willing to invest heavily in the exploration and production of natural gas in Bolivia if the multinational companies, such as (Brazil's) Petrobras and (Spain's) Repsol-YPF, are not committed to the undertaking warned Argentine president Nestor Kirchner in Tarija.
British company Seawind has filed the environmental impact report (EIA) for an ambitious renewable energy project that would create Chile's largest wind farm.
The presidents of Venezuela, Bolivia, and Argentina signed on Friday agreements to share costs of energy production and convened funding for the construction of a gas separation plant near Bolivia's border with Argentina.
Ecuador and Venezuela subscribed Thursday an agreement for the construction of the largest crude refinery in the South American Pacific coast with a capacity of 300.000 barrels per day.
Despite calls from consumers for more crude to lower prices from near record highs, the Organization of Petroleum Exporting Countries, OPEC, does not believe it's necessary to raise output when it meets next September 11.
The Brazilian gas company Petrobras wants to export Liquefied Natural Gas (LNG) to the Chilean market.
Venezuelan government oil company, PDVSA begins this week hydrocarbons exploration in six blocks offshore Cuba, 100 miles from the United States coast, with prospects of finding abundant light crude.
Oil prices are nearing an all time record after supply concerns on Tuesday lifted them above 78 US dollars a barrel, almost the 78.40 reached in the aftermath of the Lebanon conflict in July 2006.
The Organization of Petroleum exporting countries, OPEC, holds 77.2% of the world's proven reserves and 49.3% of natural gas, according to the latest Annual Statistical Bulletin for 2006, an anticipation of which was released this week in Vienna but will be officially presented on September 13.