Energy & Oil

• Tuesday, July 21st 2009 - 10:06 UTC

  Brazil accepts discussions on Itaipú surplus power distribution and prices

  

  Brazil will allow Paraguay to openly sell to Brazilian energy distributing companies its surplus share of the power generated by the Itaipú dam, the largest of its kind in the Americas.

• Saturday, July 18th 2009 - 15:25 UTC

  YPF begins next South Atlantic drilling round in Malvinas basin

  

  In the coming two weeks the Spanish-Argentine YPF energy corporation should have concluded its first round of seven exploratory wells in the South Atlantic, and towards the end of the year, or beginning of 2010, will start drilling in deeper waters in the Malvinas basin, according to company sources.

• 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.