Energy & Oil

• Saturday, June 26th 2010 - 04:55 UTC

  Leading wind farm company begins operations in Uruguay

  

  An Argentine multinational company dedicated to providing solutions in the field of alternative energy sources will open a Wind Farm Service Centre in Uruguay. IMPSA is considered a leader in wind power investment and generation in Latinamerica.

• Friday, June 25th 2010 - 05:38 UTC

  Venezuela plans to nationalize a fleet of oil rigs from US corporation

  

  Venezuela will nationalize a fleet of oil rigs belonging to US Company Helmerich and Payne, the latest takeover in a push to XXI century Socialism announced President Hugo Chávez as he struggles with lower oil output and a recession.

• Friday, June 25th 2010 - 05:33 UTC

  First shipment of Peruvian liquefied natural gas heads for Mexico

  

  Peruvian natural gas was exported for the first time this week from the recently inaugurated Pampa Melchorita plant, to the south of Lima. The LNG was delivered by Spain’s Repsol onto the Barcelona Knutsen Tanker and dispatched to Mexico.

• Friday, June 25th 2010 - 05:22 UTC

  Petrobras confirms high quality oil in latest off-shore discovery

  

  Brazil’s government controlled oil and gas corporation Petrobras said its seventh well in the offshore Tupi field confirmed the potential of light oil in pre- salt reserves. The 3-BRSA-821-RJS well, known as Tupi Alto, is about 275 kilometers off the coast of Rio de Janeiro state, Petrobras confirmed Thursday in a regulatory filing.

• Wednesday, June 23rd 2010 - 04:17 UTC

  Argentine congress to vote bill discriminating companies working in the Falklands

  

  Argentina’s Lower House issued on Tuesday a majority opinion, without dissent, on the bill that contemplates sanctions for companies that operate in Argentina and that wish to participate or are involved in oil activities in the Falklands/Malvinas Islands area under British administration.

• Tuesday, June 22nd 2010 - 04:43 UTC

  Petrobras plans to invest 224 billion USD and double production to 5.4 million bpd

  

  Brazil's state-run oil company announced Monday it will invest 224 billion US dollars through 2014 and double production by 2020. About 95% of that will be invested in Brazil.

• Friday, June 18th 2010 - 04:31 UTC

  Cuba facing dramatic power shortage calls for ‘energy-saving’

  

  Cuban Vice President Ramiro Valdes issued a call to “step up” energy-saving measures on the island in the face of the increase in electricity use in recent months, official Communist Party daily Granma said Thursday.

• Friday, June 18th 2010 - 00:16 UTC

  Peru plans to boost oil production to half a million barrels in five years

  

  Peru forecasts a liquid hydrocarbons production of half a million barrels per day in five years time, said Daniel Saba head of Perupetro the country’s company that awards and supervises all oil and gas contracts.

• Monday, June 14th 2010 - 04:00 UTC

  Russia became world’s leading oil producer in 2009 ahead of Saudi Arabia

  

  Russia overtook Saudi Arabia to become the world's leading oil producer in 2009, while global oil consumption fell the most since 1982, BP has said. According to the oil giant's latest Statistical Review of World Energy, Russia increased oil production by 1.5% in 2009, claiming a 12.9% market share.

• Friday, June 11th 2010 - 06:20 UTC

  Venezuela suspends power rationing in the eve of the World Cup

  

  Venezuelan President Hugo Chavez suspended a national electricity rationing plan, saying that the grid had been strengthened by new investments in thermoelectric plants and heavy rains that filled up reservoirs. He also wants Venezuelans to watch the World Cup in South Africa.