Energy & Oil

Friday, July 17th 2009 - 07:57 UTC
More government funds for Petrobras to develop oil reserves

Brazil's government economic and social development bank BNDES will lend 25 billion Reais (12.8 billion US dollars) to Petrobras denominated in local Treasury notes, financial newspaper Valor Economico reported on Thursday.
Wednesday, July 15th 2009 - 07:55 UTC
Exxon-Mobil partners with biotech company to develop fuels from algae

The world’s largest publicly traded oil company Exxon Mobil said Tuesday it will make its first major investment in greenhouse gas reducing bio-fuels in a 600 million US dollars partnership with biotech company Synthetic Genomics Inc. to develop fuels from algae. The US corporation will be joining other oil giants (Shell and BP) that have been investing in bio-fuels.
Tuesday, July 14th 2009 - 11:01 UTC
Argentine corporations expect US dollar to reach 4.30/4.50 pesos in 12 months

A majority of Argentine entrepreneurs believes the local currency will suffer a significant depreciation against the US dollar in the next twelve months according to a poll among 137 leading corporations.
Friday, July 10th 2009 - 12:01 UTC
Oil giant Shell world’s largest company ahead of Wall-Mart and Exxon

Oil giant Royal Dutch Shell has replaced US retail group Wal-Mart as the world's largest company, the latest annual survey by Fortune magazine says.
Thursday, July 9th 2009 - 12:14 UTC
Repsol in the process of selling YPF to China, says Beijing press

Chinese media based on reliable sources from the country’s giant oil corporation CNPC (China National Petroleum Corporation) report the almost certain sale by Spain’s Repsol of 75% of its subsidiary YPF, an operation involving 14.5 billion US dollars
Monday, July 6th 2009 - 12:54 UTC
China downplays interest in stake of Repsol/YPF

Chinese oil producer CNOOC is seeking cooperation rather than acquisitions, the corporation’s president Fu Chengyu was quoted on Sunday, amid talk CNOOC had set its sights on a unit of Spanish oil major Repsol/YPF.
Thursday, July 2nd 2009 - 12:35 UTC
YPF/Petrobras/GALP to explore for oil in Uruguayan waters

A consortium made up of YPF/Repsol, Petrobras Uruguay and GALP from Portugal has won a bid to explore for oil in two offshore blocks near the coast of Uruguay, according to industry reports late Wednesday.
Saturday, June 27th 2009 - 10:42 UTC
Paraguayan president insists in recovering Itaipu “energy sovereignty”

President Fernando Lugo reiterated Friday that Paraguay did not yield and will not yield “energy sovereignty” claims for power generated from South America’s largest hydroelectric dam Itaipu which it shares with neighbouring Brazil.
Thursday, June 25th 2009 - 17:18 UTC
Wind farm energy for Chile’s giant state owned copper company

Chilean state-owned copper company CODELCO Norte presented this week plans for a 700 million US dollars wind farm to the National Environmental Commission (CONAMA).
Thursday, June 25th 2009 - 17:16 UTC
Brazilian pre-salt reserves extraction costs in the range of 40 USD per barrel

Brazilian government managed Petrobras said this week that production from the massive oil fields deep below the ocean floor off Brazil’s Atlantic coast was viable at 40 US dollars for a barrel for benchmark Brent crude.