Energy & Oil

• Tuesday, February 13th 2007 - 20:00 UTC

  Oil production costs rise 53%

  

  The cost of producing oil and gas has risen about 53 percent in the past two years, and the trend is expected to continue this year, according to a report released yesterday.

• Tuesday, February 13th 2007 - 20:00 UTC

  Brazil describes Bolivia's foreign policy: “childish”

  

  Brazil described as “childish and amateur” Bolivia's indication that it may cancel a scheduled presidential bilateral summit, if Brazil does not pay more for Bolivian natural gas.

• Friday, February 9th 2007 - 20:00 UTC

  Venezuela and US energy corporation reach understanding

  

  The Venezuelan government and United States AES Corporation signed Thursday a memorandum of understanding (MOU) for the purchase of AES's 82.14% stake in La Electricidad de Caracas (EDC) for 739.3 million US dollars.

• Wednesday, February 7th 2007 - 20:00 UTC

  Petrobras begins production in the Gulf of Mexico

  

  Brazil's government managed oil company Petrobras announced the beginning of production at the offshore Cottonwood field in the Gulf of Mexico, United States.

• Tuesday, February 6th 2007 - 20:00 UTC

  Falkland Islands Survey Programme Update

  

  Interpretation of the 920km 2D seismic data collected in early 2006 is complete and Rockhopper Exploration is pleased to provide the following exploration update.

• Tuesday, January 30th 2007 - 20:00 UTC

  OPEC's target: oil in the range of 50/55 US dollars per barrel

  

  The Organization of Petroleum Exporting Countries, OPEC, is preparing to implement another round of oil cuts beginning February first, satisfied with its decision to cut supply by 6% that has helped restore market balance.

• Monday, January 29th 2007 - 20:00 UTC

  China begins filling its strategic oil reserves

  

  China's first strategic oil reserve base station has begun to be filled in Ningbo, Zhejiang province, according to reports from the country's National Development and Reform Commission (NDRC). This is the latest step in China's efforts to ensure a strategic oil reserve.

• Wednesday, January 24th 2007 - 20:00 UTC

  Desire Petroleum Updates Falkland Islands Activities

  

  Desire Petroleum plc, the oil and gas exploration company wholly focused on the North Falkland basin, today announces an update on its activities.

• Wednesday, January 24th 2007 - 20:00 UTC

  Latinamerica's major threats: lack of energy and Chavez

  

  Lack of energy, Venezuela's president Hugo Chavez and international terrorism are the major threats for Latinamerica concluded Wednesday several experts from the region in the framework of the World Economic Forum meeting in Davos, Switzerland.

• Wednesday, January 24th 2007 - 20:00 UTC

  Chile to face rise in gas; Chile works on reducing gas dependency

  

  Despite promises last year that gas prices would remain stable in coming months, gas supply company Energas announced Tuesday that prices are to increase by an average of 2.7 percent.