Energy & Oil

Friday, May 6th 2011 - 02:36 UTC
US jobs market remains soft and unemployment claims rose in April

The number of claims for US unemployment benefits unexpectedly rose last week, pushed up by auto-plant shutdowns and other unusual events that seasonal variations failed to take into account, the Labour Department said.
Friday, May 6th 2011 - 01:42 UTC
Boosted by bio-fuels Brazil increases soy bean and oil processing-refining capacity

Brazil’s soy bean processing volume increased 7% in 2010 over 2009 while at the same time reducing idle capacity given the larger crop and a jump in the production of bio fuels, according to a release from Abiove, (Brazilian association of vegetable oil industries).
Thursday, May 5th 2011 - 01:57 UTC
Argentine group buys 10% of YPF, now holds 25.46% of the company

Argentina's Eskenazi family has agreed to pay 1.3 billion US dollars to buy an additional 10% in YPF, the Argentine unit of Repsol, the Spanish oil company said on Wednesday.
Tuesday, May 3rd 2011 - 23:04 UTC
Falklands oil company spuds new well and has four more lined up

Rockhopper Exploration has spudded the next appraisal well on the Sea Lion oil discovery in the Falkland Islands’ waters. Drilling began on the 14/10-5 appraisal well on May first 2011.
Tuesday, May 3rd 2011 - 22:56 UTC
Argos confirms it is closer to starting an oil drilling campaign in Falklands’ waters

Argos Resources is a step closer to starting a drill campaign in Falkland Islands waters, where it is targeting a high priority area adjacent to Rockhopper’s Sea Lion discovery.
Tuesday, May 3rd 2011 - 17:08 UTC
Petrobras earmarks 73 billion USD for investment in Santos pre-salt basin

Petrobras announced the increased investment plans for the emerging Santos basin pre-salt assets, earmarking 73 billion US dollars for the 2011-2015 period. The vast sum is a 63% increase compared with the company’s 2010-2014 plan said a company statement.
Monday, May 2nd 2011 - 15:32 UTC
Petrobras announces discovery of new high-quality deep water oil deposit

Brazilian government controlled oil and gas corporation Petrobras announced the discovery of a new high-quality crude deposit in ultra-deep waters off Brazil’s south-eastern coast.
Saturday, April 30th 2011 - 22:34 UTC
Brazil furious with Human Rights Commission decision cuts all relations

Brazilian president Dilma Rousseff decided to cut all relations with the Inter American Human Rights Court following on the CIDH decision to request that the construction of a huge dam in the Amazon be suspended, following an appeal from indigenous groups.
Friday, April 29th 2011 - 21:42 UTC
Argentina will press ahead with plans to develop small-scale nuclear reactors

Argentina will press ahead with plans to develop a small-scale nuclear reactor over the next three years, even when last month‘s disaster in Japan prompted countries such as Germany and Brazil to reconsider projects.
Friday, April 29th 2011 - 05:47 UTC
Brazil’s mining giant buys stake in controversial Amazon dam project

Brazil giant mining corporation Vale SA, in which the government has a dominating stake position, agreed to buy a stake in a controversial hydro-power project in the Amazon and invest about 2.3 billion Real (1.5 billion USD).