Energy & Oil

• Wednesday, January 13th 2010 - 08:07 UTC

  Power debacle in Venezuela: four-hours rotating black outs in major cities

  

  Venezuela announced electricity cuts on a rotating basis to sections of the country’s capital Caracas and major cities as the government deepens energy rationing amid a drought. In December major industries were forced to limit production.

• Friday, January 8th 2010 - 20:45 UTC

  Falkland Islands: Drilling preparations step up a gear onshore

  

  AS the semi-submersible drilling rig Ocean Guardian, contracted by Desire Petroleum from Diamond Drilling, continues to make its way south, a number of oil operators are scheduled to visit the Falklands to meet with government officials this month.

• Tuesday, January 5th 2010 - 12:45 UTC

  Brazilian exports in 2009 suffer worst performance in six decades

  

  Brazil trade surplus in 2009 was 24.615 billion US dollars the lowest since 2002 (13.13 billion USD) and the worst since President Lula da Silva has been in office, according to the latest release from the Development, Trade and Industry ministry.

• Tuesday, January 5th 2010 - 12:35 UTC

  China buys into Canada’s tar sands; Angola signs oilfield deals with Iraq

  

  Canada's Industry Minister, Tony Clement, has given PetroChina the go-ahead for a 1.7 billion US dollars acquisition of two oil sand projects.

• Tuesday, January 5th 2010 - 12:31 UTC

  President Chavez imposes draconian power saving program

  

  Venezuelans have received 2010 with the announcement of an extremely severe power-saving program forcing all shopping malls, bars, restaurants, discos and cinemas to close business several hours a day.

• Sunday, December 27th 2009 - 06:34 UTC

  Dutch dredger operating in Tierra del Fuego bunkers in Falklands

  

  An unusual visitor to the Falkland Islands last week was the Prins der Nederlanden, which anchored in Port William for the second time to receive fuel, reports the local Penguin News.

• Wednesday, December 23rd 2009 - 15:50 UTC

  YPF unveils five year plan to explore for oil and gas in the Falklands basin

  

  Argentina's YPF, the local unit of Spanish oil major Repsol, said on Tuesday it would explore for oil and natural gas in the Falkland/Malvinas Islands basin as part of a five-year exploration program.

• Monday, December 21st 2009 - 13:05 UTC

  Greece on its own: no bail out from the European central bank

  

  Two leading Greek banks, Eurobank and Alphabank, have had their credit ratings downgraded by ratings agency Standard and Poor's while the European Central Bank said there will be no bail out for debt-stricken member states.

• Wednesday, December 16th 2009 - 05:29 UTC

  UK November inflation rose to 1.9%, pushed by fuel prices

  

  Higher petrol prices in the United Kingdom pushed inflation upward for the second month in a row in November, official figures have revealed. The Consumer Prices Index (CPI) rose to 1.9% last month from 1.5% in October, said the Office for National Statistics (ONS).

• Tuesday, December 15th 2009 - 14:20 UTC

  Brazil, Peru plan to build five hydroelectric dams in the Amazon

  

  Brazil expects to reach an accord with Peru by March on a 5 billion US dollars power project to secure energy supplies for both countries, according to Energy minister Edison Lobao. The two governments plan to build five hydroelectric plants in Peru that will produce 6,000 megawatts of electricity