Energy & Oil

Friday, May 11th 2007 - 21:00 UTC
Petrobras discovers gas reserves off shore Espirito Santo

Brazil's government owned petroleum company Petrobras announced the discovery of natural gas reserves in the Espirito Santo Basin in the country's southeastern coast.
Wednesday, May 9th 2007 - 21:00 UTC
UN cautions on drawbacks and benefits of bio-fuels

As the demand for biofuels surges with over one billion people living without access to electricity, a new United Nations report released this week cautions that the world's energy needs must be met in a sustainable and environmentally sound manner.
Wednesday, May 9th 2007 - 21:00 UTC
Petrobras/Bolivia refineries dispute escalates

President Evo Morales said Bolivia would respond in the coming hours to a proposal from Brazil's state-run oil company, Petrobras, regarding compensation for its two refineries in Bolivia recently nationalized.
Saturday, May 5th 2007 - 21:00 UTC
Only Conoco-Phillips resisting Chavez Orinoco basin control

Venezuela threatened to expel Conoco-Phillips, the US oil company, if it does not abide by the nationalization of stakes held by foreign investors in the country's Orinoco heavy oil operations.
Friday, May 4th 2007 - 21:00 UTC
Brazil considering nuclear option for energy shortage

Brazil will increase the use of nuclear energy if it cannot build enough hydroelectric plants, President Luiz Inacio Lula da Silva said on Thursday.
Friday, May 4th 2007 - 21:00 UTC
Punta Arenas Methanex plans to cut Argentine gas dependency

Canada's Methanex, the world's leading producer of methanol and which has a gigantic plant in Punta Arenas expects to break its Argentina natural gas dependency sometime in the next three years, and concentrate on Chilean supplies, said Bruce Aitken, the company's CEO.
Wednesday, May 2nd 2007 - 21:00 UTC
Chavez completes re-nationalization of oil reserves

Venezuela took control of the Orinoco oil installations on May first completing the process of “re-nationalization” of the nation's oil reserves. President Hugo Chávez led celebrations of the takeover of the Orinoco Oil Belt which could convert Venezuela into the country with the largest oil reserves.
Wednesday, May 2nd 2007 - 21:00 UTC
Bolivia takes control of oil and gas industry

Bolivia's government owned energy company YPFB took control on Wednesday of the country's oil and gas industry after a dozen oil companies, including Repsol YPF SA, British Gas, Total and Petrobras signed new contracts today.
Tuesday, May 1st 2007 - 21:00 UTC
Venezuela Set To Gain Control Of Its Oil Fields

Venezuela's military might will be on full display on Tuesday as Hugo Chávez, the country's president and a former paratrooper, celebrates winning back Venezuela's natural resources in the oil-rich Orinoco for the people.
Monday, April 30th 2007 - 21:00 UTC
Desire Petroleum: pretax loss and no rig on sight

Desire Petroleum PLC swung to full-year pretax loss due to the strengthening of the pound against the dollar reported the company.