Energy & Oil

• Wednesday, April 15th 2009 - 09:05 UTC

  Bolivia expects 17% oil tax and royalties revenue drop in 2009

  

  Bolivia is forecasting a 17% fall in its hydrocarbons tax and royalties revenues because of the fall in the international price of gas and oil sold to Argentina and Brazil according to official reports.

• Wednesday, April 15th 2009 - 09:02 UTC

  Colombia to explore for oil offshore Brazil

  

  Colombian state-owned oil company Ecopetrol S.A. said Tuesday it signed an agreement with US-based Anadarko Petroleum Coporation to explore for crude oil off the coast of Brazil. Ecopetrol's subsidiary in Brazil will hold a 50% stake in block BMC-29, the company said in a statement.

• Friday, April 10th 2009 - 05:49 UTC

  Brazil offers a billion USD in projects to compensate for Itaipu energy

  

  The Brazilian government is planning to offer a financing package worth one billion US dollars for industrial projects in Paraguay, local financial newspaper Valor Economico reported this week. According to the newspaper, which cited unnamed sources, the financing will be offered through Brazil's National Development Bank, or BNDES.

• Wednesday, April 8th 2009 - 05:12 UTC

  Uruguay modifies bidding terms for offshore oil exploration

  

  The Uruguayan government has modified the bidding terms for offshore oil and gas exploration and exploitation, given the dramatic fall in oil prices and the deepening global economic crisis.

• Wednesday, April 8th 2009 - 01:10 UTC

  Magallanes gas production reaches one million cubic metres per day

  

  Oil and gas company Geopark which operates in the extreme south of Chile announced this week it had reached a daily extraction of a million cubic metres of natural gas, equivalent to 20% of Chilean production, making her the country’s largest private producer.

• Wednesday, April 8th 2009 - 00:30 UTC

  Huge mining project will turn Magallanes into Chile’s “coal region”

  

  A huge project involving 300 million US dollars for the exploitation of coal deposits in the extreme south Chilean Magallanes Region was officially presented in Punta Arenas this week by Energy Minister Marcelo Tokman and top officials from the two companies involved in the project.

• Tuesday, April 7th 2009 - 12:49 UTC

  Venezuelan and Japan leaders agree to deepen ties

  

  Japanese Prime Minister Taro Aso and Venezuelan President Hugo Chavez agreed Monday to deepen ties in energy, investment and trade, with Japanese companies ready to participate in gas and crude production in the Latin American country.

• Tuesday, April 7th 2009 - 11:47 UTC

  Petrobras and Repsol agree to develop oil and gas off Santos

  

  The consortium formed by Brazil’s government managed oil and corporation Petrobras (63%, operator) and Spain’s Repsol (37%) has delivered a Declaration of Commercial Viability for a light oil and gas discovery made in reservoirs located above the salt layer, in block BM-S-7, in the Santos Basin.

• Saturday, April 4th 2009 - 02:18 UTC

  A Brazilian oil carnival?

  

  How much access western energy firms win to Brazil’s vast offshore oil fields hinges on complex political currents in the country – and how well the companies navigate these, argues Juliet Hepker.

• Friday, April 3rd 2009 - 09:14 UTC

  Argentine province extends oil and gas concessions to US company

  

  United States Apache Corporation announced this week that the Argentine Patagonian province of Neuquen has agreed to extend eight federal oil and gas concessions for 10 additional years.