Energy & Oil

• Saturday, May 2nd 2009 - 09:39 UTC

  “Itaipú proposal” waits President Lugo when he visits Brazil

  

  Brazil could anticipate payments to Paraguay for the energy from the shared huge Itaipu dam, which should help the Treasury of the weakened President Fernando Lugo. However Brazil would also like to see an end to Paraguay’s intention of modifying the Itaipu dam accord, according to the Brazilian press quoting government sources.

• Friday, May 1st 2009 - 12:53 UTC

  Brazil’s pre-salt basin oil extraction becomes commercial operation

  

  Petrobras, Brazil’s state-managed oil company will begin Friday to extract oil from the off-shore pre-salt Tupi field and is “very secure” about production expectations, said Guilherme Estrella, head of exploration and production.

• Thursday, April 30th 2009 - 12:19 UTC

  Chilean energy company confirms coal mining in Magallanes

  

  Roberto Angelini, president of the Chilean industrial Angelini conglomerate which owns petroleum distribution company COPEC, announced plans for COPEC's expansion in 2009, worth 678 million US dollars, despite the financial crisis

• Wednesday, April 29th 2009 - 11:28 UTC

  Argentina’s energy sector under “persistent productive decadence”

  

  Since 2005 Argentina has consumed 25% of its natural gas reserves, 15% of oil reserves and the Mar Argentino (South Atlantic) which has “great possibilities remains virtually untouched”, reads a critical report on the outlook for the Argentine energy sector compiled by eight former Energy Secretaries from different governments.

• Saturday, April 25th 2009 - 10:24 UTC

  Petrobras establishes new production records during March

  

  Brazil’s government managed oil and gas corporation Petrobras established in March new production records, according to a release from the company. The average oil and gas production last month reached 2,315,276 barrels of oil equivalent per day (boed), 9.5% more than a year ago and 3% above last month’s mark.

• Sunday, April 19th 2009 - 05:39 UTC

  Huge LNG plant ready to open in Chile and cut Argentine dependency

  

  Chile is just months away from beginning operations at a huge Liquid Natural Gas (LNG) re-gasification plant that was first planned during the Ricardo Lagos administration. The 1.1 billion US dollars plant is located near the Region V coastal city of Quintero.

• Wednesday, April 15th 2009 - 09:05 UTC

  Bolivia expects 17% oil tax and royalties revenue drop in 2009

  

  Bolivia is forecasting a 17% fall in its hydrocarbons tax and royalties revenues because of the fall in the international price of gas and oil sold to Argentina and Brazil according to official reports.

• Wednesday, April 15th 2009 - 09:02 UTC

  Colombia to explore for oil offshore Brazil

  

  Colombian state-owned oil company Ecopetrol S.A. said Tuesday it signed an agreement with US-based Anadarko Petroleum Coporation to explore for crude oil off the coast of Brazil. Ecopetrol's subsidiary in Brazil will hold a 50% stake in block BMC-29, the company said in a statement.

• Friday, April 10th 2009 - 05:49 UTC

  Brazil offers a billion USD in projects to compensate for Itaipu energy

  

  The Brazilian government is planning to offer a financing package worth one billion US dollars for industrial projects in Paraguay, local financial newspaper Valor Economico reported this week. According to the newspaper, which cited unnamed sources, the financing will be offered through Brazil's National Development Bank, or BNDES.

• Wednesday, April 8th 2009 - 05:12 UTC

  Uruguay modifies bidding terms for offshore oil exploration

  

  The Uruguayan government has modified the bidding terms for offshore oil and gas exploration and exploitation, given the dramatic fall in oil prices and the deepening global economic crisis.