Energy & Oil

• Tuesday, July 26th 2011 - 13:29 UTC

  Petrobras plans to double oil output by 2015 and exit debt market in 10 years

  

  Brazil’s government managed Petrobras said its plan to more than double oil output will boost cash flow and eliminate the need to tap debt markets after about 10 years. Profits from oil sales will be enough to cover operating and debt costs starting in about 10 years, said Chief Financial Officer Almir Barbassa.

• Tuesday, July 26th 2011 - 08:06 UTC

  Mexico Pemex buys Repsol shares, becomes third largest stock holder

  

  Mexico's state oil monopoly Pemex said on Monday it recently bought 825,150 shares in Repsol YPF, increasing its stake in the Spanish company to 5%. The stock purchase took place on July 13, Pemex's finance department said, without giving details of the cost of the deal.

• Monday, July 25th 2011 - 12:25 UTC

  Argentina’s trade surplus shrinking under a strong influx of imports

  

  Argentina's trade surplus fell 22% on the year in June. Trade surplus last month 1.02 billion dollars, down from a revised 1.31 billion in June 2010, according to the national statistics agency, Indec.

• Tuesday, July 19th 2011 - 13:16 UTC

  Northeast Brazil invests in wind energy, operational by December 2012

  

  Denmark-based Vestas has secured an order from a consortium created by Brennand Energia and Companhia Hidro Eletrica do Sao Francisco in the north east of Brazil to supply turbines with a total capacity of 90MW for three wind energy projects.

• Tuesday, July 19th 2011 - 06:05 UTC

  Brazil to cut ethanol content in gasoline to ease pressure on sugar market

  

  Brazil will reduce the ethanol content in gasoline in another effort to contain inflation since sugar (and ethanol) prices because of a poor crop have been soaring, according to the Sao Paulo press.

• Tuesday, July 19th 2011 - 05:38 UTC

  Falklands’ third appraisal oil well results should be known by end of August

  

  Falklands’ Rockhopper Exploration, the oil and gas explorer, pressed ahead with its hunt for oil in the North Falklands with the drilling of its third appraisal well on the Sea Lion Discovery feature last week.

• Tuesday, July 19th 2011 - 05:12 UTC

  Paraguay wants Argentina to pay better prices for power from shared dam

  

  The presidency of the Paraguayan delegation at the Mercosur Parliament, Parlasur called on Argentina to improve the ‘reduced’ price it currently pays for surplus power from the shared hydroelectric dam of Yacyretá.

• Monday, July 18th 2011 - 10:28 UTC

  Hydrocarbons-rich province says Argentina has no need to import natural gas

  

  The governor of hydrocarbon-rich Neuquen Province wants to convince Argentina's government it can get all the natural gas it needs from Neuquen and doesn't need to spend billions to import the fuel from Qatar.

• Thursday, July 14th 2011 - 22:09 UTC

  Brazil has a “North Sea of oil” along its Atlantic coast, says Petrobras

  

  Brazil’s oil reserves, including recent discoveries in deep waters of the Atlantic Ocean, are of a similar size to those found in the North Sea, said a Petrobras exploration official in an interview in London.

• Wednesday, July 13th 2011 - 01:42 UTC

  YPF joins the “oil rush” in Colombia, South America’s third producer

  

  YPF SA, Argentina's largest oil company, agreed to explore for oil with Canada’s Alange Energy Corp. in Colombia that is attracting investors as it become South America’s third largest producer of oil behind Venezuela and Brazil.