Brazil’s government managed oil and gas corporation Petrobras announced its bio-fuels business plan for 2009/2013 which involves 2.4 billion US dollars to increase the production of bio-diesel and ethanol, most of which to be sourced in Brazil.
GeoPark Holdings has announced the successful drilling and testing of a new gas well - Yagan 1 - on the Fell Block in the extreme south of Chile at an initial production test rate exceeding 10 million cubic feet per day (mmcfpd) of gas.
Venezuela's government owned oil company PDVSA plans to slash costs by 40% as it struggles with low crude prices amid the global financial crisis, according to the president of the corporation.
Mexico's government owned oil and gas company Pemex reported a fourth-quarter net loss of 115 billion pesos (8.3 billion US dollars) on Friday, 254% more than in the year-ago period on declining crude exports, low oil prices and currency losses.
The chairman of United Kingdom's Financial Services Authority has said its failure to spot the banking crisis in advance was partly due to the style of regulation. A light touch approach at the City watchdog had been seen as politically preferred, Lord Turner said.
As European Union leaders met over the weekend in Berlin ahead of the G20 summit in April, Gibraltar Chief Minister Peter Caruana has welcomed the call for a tightening of regulatory standards, transparency and co-operation of financial markets on a global basis.
A British Catholic bishop embroiled in a row over Holocaust denial has flown out of Argentina days after being told to leave the country.
Falkland Oil and Gas ((FOGL), the oil and gas exploration company with extensive licensed areas to the South and East of the Falkland Islands, said Monday that it has completed the survey program at four areas with the MV Fugro Meridian. The four areas were jointly selected by the operatior BHP Billiton and FOGL.
Brazil has survived the worst of the global financial crisis and could see an upturn as early as the second quarter, the state-funded Institute for Applied Economic Research, or IPEA, said this week.
Petrobras average oil and gas production in Brazil during January climbed to 2,219,165 barrels of oil equivalent per day (boe), 4.8% more than a year ago and up 0.7% over December 2008. Oil from domestic fields was 1,922,946 barrels/day, setting a monthly record, 5.3% above the mark set a year earlier and 2.5% more than the December volume.