Energy & Oil

• Tuesday, August 2nd 2011 - 12:50 UTC

  Spanish group receives soft funding to expand wind farms in south of Brazil

  

  Spain’s Elecnor group is building more wind power plants in Brazil’s southern state of Rio Grande do Sul totalling an estimated 300 MW. The undertaking was boosted by funding from Brazil economic and social development bank, BSDES)

• Friday, July 29th 2011 - 07:08 UTC

  Repsol-YPF earnings hit by civil war in Libya and labour strikes in Argentina

  

  Repsol-YPF, Spain’s largest oil company, said second-quarter earnings fell 7.3% after refining margins narrowed and output declined because of the civil war in Libya and strikes in Argentina.

• Thursday, July 28th 2011 - 11:32 UTC

  Venezuela remains committed to compensate oil companies, says minister

  

  Venezuela said it remains committed to compensating Exxon-Mobil and Conoco-Phillips for nationalized oil assets, as long as the amount is reasonable and either settle by mutual agreement or set by the World Bank’s arbitration panel.

• Thursday, July 28th 2011 - 00:34 UTC

  Latam’s 2010 foreign direct investment reached 159bn dollars, mostly from Asia

  

  Foreign direct investment (FDI) flows to Latin America and the Caribbean increased by 13% in 2010 to reach 159 billion dollars indicated UNCTAD (United Nations Conference on Trade and Development) annual investment survey that was released Wednesday.

• Wednesday, July 27th 2011 - 03:41 UTC

  Global demand for oil will increase in 2012 driven by emerging economies

  

  Global oil demand will increase further next year, the International Energy Agency (IEA) has predicted. The IEA, which represents the main oil consuming nations, said the increase in crude usage would continue to be driven by emerging economies.

• Tuesday, July 26th 2011 - 13:29 UTC

  Petrobras plans to double oil output by 2015 and exit debt market in 10 years

  

  Brazil’s government managed Petrobras said its plan to more than double oil output will boost cash flow and eliminate the need to tap debt markets after about 10 years. Profits from oil sales will be enough to cover operating and debt costs starting in about 10 years, said Chief Financial Officer Almir Barbassa.

• Tuesday, July 26th 2011 - 08:06 UTC

  Mexico Pemex buys Repsol shares, becomes third largest stock holder

  

  Mexico's state oil monopoly Pemex said on Monday it recently bought 825,150 shares in Repsol YPF, increasing its stake in the Spanish company to 5%. The stock purchase took place on July 13, Pemex's finance department said, without giving details of the cost of the deal.

• Monday, July 25th 2011 - 12:25 UTC

  Argentina’s trade surplus shrinking under a strong influx of imports

  

  Argentina's trade surplus fell 22% on the year in June. Trade surplus last month 1.02 billion dollars, down from a revised 1.31 billion in June 2010, according to the national statistics agency, Indec.

• Tuesday, July 19th 2011 - 13:16 UTC

  Northeast Brazil invests in wind energy, operational by December 2012

  

  Denmark-based Vestas has secured an order from a consortium created by Brennand Energia and Companhia Hidro Eletrica do Sao Francisco in the north east of Brazil to supply turbines with a total capacity of 90MW for three wind energy projects.

• Tuesday, July 19th 2011 - 06:05 UTC

  Brazil to cut ethanol content in gasoline to ease pressure on sugar market

  

  Brazil will reduce the ethanol content in gasoline in another effort to contain inflation since sugar (and ethanol) prices because of a poor crop have been soaring, according to the Sao Paulo press.