Energy & Oil

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.
Tuesday, March 31st 2009 - 08:56 UTC
Qatar says “it’s OK” with crude at 50USD per barrel

Qatar's oil minister said Monday he was “OK” with crude oil at 50 US dollars per barrel for this year, reflecting a measure of pragmatism by OPEC. However OPEC president forecasted that oil prices could reach 75USD by the end of the year.
Wednesday, March 25th 2009 - 07:57 UTC
Brazil begins to cut natural gas dependency from Bolivia

President Lula da Silva said that Brazil can’t depend for its natural gas solely on Bolivia and anticipated that with the recent opening of a liquid gas plant, the fuel can be imported from the Caribbean. Anyhow “we will continue to purchase Bolivian gas until at least 2019”.
Monday, March 23rd 2009 - 08:48 UTC
Petrobras guarantees fuel supply ahead of five day strike

Brazil’s government managed oil and gas corporation Petrobras said there is “no chance” a planned strike by its workers beginning Monday will limit the country’s fuel supply.
Friday, March 20th 2009 - 05:27 UTC
Brazil needs 270 billion USD in ten years to make true its oil dreams

Brazil needs 270 billion US dollars in investment over the next 10 years to develop massive new deepwater oil reserves, energy minister Edison Lobao said on Thursday.
Thursday, March 19th 2009 - 16:22 UTC
Saudis warn of “catastrophic” oil supply crunch in near future

Saudi Arabia's oil minister Ali al-Naimi warned Wednesday of a possible “catastrophic” energy supply crunch without prompt investment. The minister said the ideal price for oil lies between 60 and 75 US dollars a barrel.
Wednesday, March 18th 2009 - 15:32 UTC
New natural gas discovery in Tierra del Fuego

Latinamerican oil and gas explorer GeoPark Holdings Ltd (GPK.L) announced this week that tests at its newly drilled gas well in southern Chile were “successful” and that it planned to drill seven to nine new wells in 2009.