Peru's liquefied natural gas exporting project will receive a 300 million US dollars loan from the International Finance Corporation of the World Bank, reported the bank.
A submarine cable in the Middle East has been snapped, adding to global net problems caused by breaks in two lines under the Mediterranean on Wednesday, reports the BBC.
The Organization of Petroleum Exporting Countries, OPEC, left its oil production ceiling unchanged on Friday ignoring United States demands for an increase. The cartel insisted that the market remained well supplied and seemed to focus on supporting prices which have fallen 10% since the beginning of the year.
Brazil's government managed Petrobras will bid strongly for Exxon's downstream assets in South America, O Globo newspaper reported this week from Rio do Janeiro.
The five foreign hydrocarbons corporations operating in Ecuador said they are willing to overhaul their contracts with the government. President Rafael Correa who is seeking to increase control over the country's key sector said he wants oil firms to strike an agreement in 45 days.
The Spanish oil corporation Repsol SA could sell a 5 to 10% of its Argentine unit YPF to four local provinces, Madrid's El Mundo reported, citing unnamed sources close to negotiations between Repsol chairman Antoni Brufau and governor of the Chubut province Mario Das Neves.
Brazil's government oil managed corporation Petrobras finished 2007 in sixth place of PFC Energy 50's ranking, which lists the world's largest oil companies based on their market values.
Keeping electricity rates frozen cost the Argentine Treasury four billion US dollars in four years, from 2003 to 2007. A sum which could have been invested in six 800 MW thermal generation plants or two gas pipelines from Bolivia according to Argentina's Cammesa, manager of the country's wholesale electricity market.
Brazil is seeking to acquire military technology from France that could help it become the first country in Latin America to have a nuclear submarine, the Defense Ministry said on Monday.
Argentina's Patagonian hydrocarbons rich province of Chubut announced this week the discovery of new oil deposits that will help double the province's production, anticipated Governor Mario Das Neves.