Energy & Oil

• Friday, May 29th 2009 - 08:43 UTC

  Itaipú is a “political problem”, says Lula da Silva’s main advisor

  

  Differences between Brazil and Paraguay over the world’s largest operational hydroelectric dam, Itaipú, are a “political problem” and not an energy issue according to Marco Aurelio García, international affairs advisor to the Brazilian Executive.

• Friday, May 29th 2009 - 05:04 UTC

  Brazil discovers the benefits of efficient cook stoves.

  

  Woodland in Brazil is being cut down, day after day. The local people say they need it to make a living. This is not the Amazon rainforest deforestation, but the woody landscape of Caatinga in the North Eastern corner of Brazil. Caatinga’s inhabitants are cutting wood for cooking.

• Thursday, May 28th 2009 - 12:24 UTC

  Uruguay inaugurates second wind farm with 10 MW capacity

  

  Uruguay officially inaugurated on Wednesday a 10 MW capacity wind turbine park financed and equipped by Spain. The park belonging to Uruguay’s power company UTE is one of the many different efforts to broaden and diversify energy generation in the country.

• Wednesday, May 27th 2009 - 06:32 UTC

  Oil prices climb to six-month high as US consumer confidence jumps

  

  Oil prices climbed on Tuesday to a new six-month high as traders viewed a jump in US consumer confidence as a signal for an economic rebound and increased energy demand. The rise comes ahead of OPEC’s meeting later this week in Vienna.

• Tuesday, May 26th 2009 - 12:05 UTC

  Government tells Cubans: austerity or blackouts

  

  The Cuban government reduced from 6 to 2% the projected growth of the economy for 2009. The announcement was made by Cabinet vice president and Economy Minister Marino Murillo during a meeting at which “exceptional measures” were announced starting June first to reduce energy consumption, the official daily Juventud Rebelde said Saturday.

• Tuesday, May 26th 2009 - 11:40 UTC

  Brazilian industry to openly debate Itaipu power plant controversy

  

  The world’s largest operational hydroelectric dam and how the energy produced should be distributed and traded will be at the heart of a debate Wednesday between Brazil’s main industrial organization, FIESP, and Paraguayan authorities, the two countries who share the giant power station.

• Tuesday, May 26th 2009 - 05:55 UTC

  Saudis warn of another oil price spike within “two-to-three years”

  

  The world could face within “two-to-three years” another oil price spike similar to that witnessed in 2008, Saudi Arabian Oil Minister Ali al-Naimi said on Monday. Al-Naimi warned a meeting of Group of Eight ministers in Rome that the high-price scenario was likely unless investments in “new capacity expansion projects are made”.

• Monday, May 25th 2009 - 17:36 UTC

  Energy efficiency cooperation agreement signed in Rome

  

  Countries accounting for 80% of energy supply and demand worldwide, including Brazil and Mexico, signed Sunday in Rome, in the framework of the G8 Energy summit, an international partnership energy efficiency cooperation agreement, IPEEC.

• Saturday, May 23rd 2009 - 15:27 UTC

  Rockhopper claims first gas discovery in North Falklands

  

  North Falkland basin explorer Rockhopper Exploration has reclassified a previous exploration well drilled by Shell in 1998, as a gas discovery and as a result has claimed the first discovery in the Falkland Islands.

• Friday, May 22nd 2009 - 08:11 UTC

  China interest in extending more loans to Petrobras but in Renmimbi

  

  China Development Bank may offer more financing to Brazil’s government managed oil and gas corporation Petrobras adding to the 10 billion US dollars extended this week, said Petrobras CEO Jose Sergio Gabrielli on Thursday in New York.