Venezuela's Hugo Chavez said he felt disappointed that his jumbo gas pipeline proposal to supply the South American continent had been frozen by several of the potential beneficiaries of the multi billion project.
Rockhopper Exploration plc, the North Falkland Islands explorer, announced that volumetric work has been completed on the Company's leads and prospects in licences PL023 and PL024. The work suggests un-risked P50 recoverable reserves of in aggregate 2.5 billion barrels of oil providing encouragement against the backdrop of an easing rig market.
The world's leading and largest producer of methanol, Methanex Corporation said Monday that it had joined Wintersall from Germanay and GeoPark Holdings to bid for natural gas concessions in the extreme south of Chile.
Chile's impending energy crisis, sharpened by diplomatic tensions with Argentina and one of the coldest winters on record, was the theme of a seminar held last week in Valparaíso's Congress building. New Energy Minister Marcelo Tokman Ramos, Environment Minister Ana Lyn Uriarte and various members of Congress spoke at the event, which was titled Energy Policy in Chile: A Challenge.
Global demand for oil will increase significantly next year, with greater pressure on prices, said the International Energy Agency (IEA) in its monthly report.
Argentina in the midst of its worst energy shortage in decades launched Friday the announced Total Energy program which basically subsidizes oil corporations liquid fuels sales to industry with the purpose of ensuring the supply of gas to home consumers.
President Luiz Inacio Lula da Silva said that Brazil will budget about half a billion US dollars over eight years to complete its nuclear program, including uranium enrichment technology, a third plant and finishing the building of a nuclear-powered submarine.
Chile's Ministry of Mines announced this week that the period to acquire tender bases for the Magallanes Region oil and gas exploration project has been extended for another thirty days until Thursday August 9.
Argentina suspended Wednesday natural gas shipments to neighbouring Chile to ensure domestic supplies as one of the coldest winters in recent history grips Argentina, Chile, Uruguay and the south of Brazil.
Following the success of its previous Employee Share Option scheme which was taken up by 34 members of staff in Stanley, Falkland Islands Holdings Ltd (FIH plc) announced that under the terms of its latest Save as You Earn Employee Share Option Scheme on 5th July 2007 some 55 employees of The Falkland Islands Company Ltd (FIC) in the Falklands were granted an option to subscribe for ordinary shares in FIH plc.