Energy & Oil

Friday, August 7th 2009 - 07:00 UTC
Petrobras begins operations in Chile and targets 20% of fuels’ market

Brazilian government controlled Petrobras entered the Chilean fuel distribution market in Chile with the inauguration Tuesday of a service station in Santiago. The company paid 400 million US dollars for US-based Exxon-Mobil’s stake in Esso Chile Petrolera and other units in the Andean nation and has targeted a 20% share of the market.
Sunday, August 2nd 2009 - 11:57 UTC
Lula da Silva wants control over world largest iron-ore producer

Brazilian President Lula da Silva wants the government to take control of Vale SA, according to the weekly magazine Veja. However the origin of the information was not revealed.
Sunday, August 2nd 2009 - 11:50 UTC
Nigerian oil debate: losses since 2006 amount to 47 billion USD says Shell

Nigeria has lost about 7 trillion naira (47 billion US dollars) as a result of the shut-in of the Shell Petroleum Development Company (SDPC) output since 2006 in the country the Lagos based Compass newspaper reported this week.
Friday, July 31st 2009 - 07:56 UTC
Wind Power Investment: Blowing Towards Chile

Currently Argentina is only sending 10% of the agreed quantity of natural gas to its Andean neighbour, Chile. Faced with an energy crisis beginning to impact upon economic growth, Chile was forced to scour the globe for energy sources says Eugenio Chinchon, a Chilean business development manager specializing in renewable energy.
Thursday, July 30th 2009 - 14:13 UTC
Energy dispute: having agreed with Brazil, Paraguay now targets Argentina

After having reached an understanding with Brazil, Paraguay next month plans to begin negotiations with Argentina to claim better conditions for the power generated from the Yaciretá dam which both countries share.
Thursday, July 30th 2009 - 13:59 UTC
Russia and Cuba sign Gulf of Mexico oil exploration agreement

Russia is to begin oil exploration in the Gulf of Mexico, after signing a deal with Cuba, says Cuban state media. Russian Deputy Prime Minister Igor Sechin signed four contracts securing exploration rights in Cuba's economic zone in the Gulf.
Wednesday, July 29th 2009 - 16:18 UTC
Falklands: EIAs to ExCo as drilling preparation continues

WORK towards a hydrocarbon drilling programme in the Falkland Islands continues to progress with the news that Environmental Impact Assessments (EIAs) are soon to be submitted by Desire Petroleum and Rockhopper Exploration to Executive Council for approval.
Wednesday, July 29th 2009 - 12:18 UTC
Dry wells controversy erupts in Brazil’s sub-salt basins drilling

Brazilian government managed oil corporation Petrobras said late Tuesday in an official release that it has drilled eleven wells in the promising Santos Basin region, with all of the wells testing positive for oil or natural gas.
Tuesday, July 28th 2009 - 07:12 UTC
Less Bolivian gas production as Brazilian demand falls

Brazil has reduced its demand for Bolivian natural gas to 24 million cubic meters per day, prompting a drop in production, according to reports in the La Paz press.
Monday, July 27th 2009 - 12:35 UTC
Brazil agrees to treble payment for Paraguay’s energy from Itaipú

Brazil and Paraguay agreed over the weekend on an amicable solution to a decade long dispute over a hydro-electric dam on their shared border, with Brazil agreeing to triple the amount it pays its neighbour for energy.