Oil rose for a third day in New York after OPEC failed to reach an agreement on production targets for the first time in at least 20 years and U.S. crude inventories fell more than analysts forecast.
Brazil's government unveiled new financing and other incentives for sugar cane ethanol production, vowing to work closely with the private sector to boost production in an industry that has struggled recently despite its immense promise.
Global proven oil reserves rose by 0.5% in 2010, boosted by increases in Brazil, India and Russia, according to British Petroleum. Deposits advanced to 1.3832 trillion barrels at the end of last year from a revised 1.3766 trillion in 2009, BP said in its annual Statistical Review of World Energy.
Argentina will receive this week two LNG cargoes from Spain's Gas Natural as it steps up purchases to meet rising demand in the face of falling temperatures, according to Argentine state owned energy company Enarsa sources.
Argentina won't become a natural gas exporter under the current government even if potentially massive deposits of unconventional gas turn out to more than enough to supply the domestic market, announced Planning minister Julio De Vido.
State run India OIL Ltd has drawn up a war chest of over 1 billion US dollars, for acquiring a producing oilfield abroad and the company is trawling major oil-producing geographies, among which shale gas assets in Argentina, chairman N M Borah said last week.
Argentina’s oil corporation YPF signed a purchase option for 54.67% of the British Gas controlled GASA group that is the country’s largest distributor of gas. The purchase option expires August 31.
Petroleos Mexicanos; Pemex, sued 11 US firms over claims they helped Mexican drug cartels smuggle and re-sell more than 300 million USD in natural gas liquids stolen from Mexico’s northern oilfields into the U.S.
New York's attorney general is suing the federal government to compel a full environmental review of proposed regulations for natural gas drilling in the Delaware River Basin.
Relying on the expected growth of the oil and gas industry in Brazil and the influx of new rigs and floating production, storage and offloading, FPSO, in the Brazilian offshore market, British manufacturer, Rolls Royse is set to make a 60 million US dollars investment in a new plant to build energy modules for offshore rigs.