Energy & Oil

• Tuesday, June 21st 2011 - 04:45 UTC

  Chilean court suspends controversial hydroelectric complex in Patagonia

  

  A Chilean court on Monday ordered the suspension of a project to build a complex of five hydroelectric dams in the Patagonian wilderness, bowing to appeals by lawmakers and environmental groups.

• Tuesday, June 21st 2011 - 03:16 UTC

  Petrobras told to control costs of its massive investment program

  

  Petrobras oil and gas corporation needs to control costs in its investment program, Brazil's Finance minister said on Monday, days after he and other board members told the company to revise an update of its 224 billion US dollars spending plan.

• Friday, June 17th 2011 - 16:33 UTC

  Peru cancels construction of Amazon dams; major setback for Brazil

  

  Peruvian environmentalists have welcomed a decision by the country's Energy Ministry to cancel the development of the 1.5GW Inambari Dam in the Amazon basin.

• Wednesday, June 15th 2011 - 22:46 UTC

  Argentina attracted 40% of all Chinese investments in the region in last 12 months

  

  Argentina attracted 40% of all Chinese investments in the region in the last twelve months (June 2010/May 2011) and prospects remain “optimistic” reveals a report from Deloitte.

• Wednesday, June 15th 2011 - 21:53 UTC

  French giant oil group Total invests heavily in solar energy

  

  French oil and gas giant Total completed its 1.3 billion US dollars tender offer to buy a controlling 60% stake in SunPower, a California provider of solar power systems, the two companies announced Wednesday.

• Wednesday, June 15th 2011 - 19:27 UTC

  Energy rich Venezuela, short in power and forced to ration electricity

  

  Big electricity users in Venezuela have been told to cut consumption or face increased charges. Consumers who save energy will be in line for discounts, officials said. The move comes after a series of recent power failures, the most recent last Friday and Saturday when outages affected most of western Venezuela.

• Wednesday, June 15th 2011 - 02:43 UTC

  “Self determination and self sufficiency”, Falklands message to the world on Liberation Day

  

  “Self-determination and self-sufficiency” is the Falkland Islands message to the world on the day the Islands commemorate the 29th anniversary of its liberation, said the Falklands’ government representative in London Sukey Cameron, who added Argentina continues with its campaign to claim sovereignty and disrupt the Falklands economy.

• Friday, June 10th 2011 - 15:32 UTC

  Petrobras double-strike: major discovery in US Gulf of Mexico and in Brazil

  

  Lucky week for Brazil’s Petrobras that announced major oil and gas discoveries in the US Gulf of Mexico and off the coast of Spirito Santo in Brazil.

• Friday, June 10th 2011 - 15:17 UTC

  Uruguay completes 2D offshore geophysical surveying for September’s oil round

  

  In anticipation of Uruguay Oil Round II, scheduled for next September, Singapore based Reflect Geophysical Pte Ltd announced the completion of the survey for the acquisition of geophysical data in the Uruguayan offshore, through the seismic vessel R/V Reflect Aries.

• Thursday, June 9th 2011 - 08:36 UTC

  Oil company confirms Falklands drilling and farm-out accord in coming months

  

  Falkland Oil & Gas confirmed on Wednesday drilling operations will begin in the first quarter of 2012 and revealed it is in early talks with firms interested in taking part in its exploration program south of the Falkland Islands. The company however anticipated it did not expect to conclude any farm-out agreement until later this year.