Energy & Oil

• Saturday, November 14th 2009 - 13:44 UTC

  US trade deficit widens fuelled by auto and oil imports

  

  United States trade deficit widened in September by the most in a decade, reflecting rising demand for imported oil and automobiles as the economy rebounded from the worst recession since the 1930s.

• Saturday, November 14th 2009 - 13:05 UTC

  Chile ready to begin pumping natural gas into Argentina

  

  The Chilean government set up the legal framework allowing the export of re-gasified natural gas to Argentina over existing gas pipelines, as well as to other countries of the region following the inauguration of facilities in central Chile, reports Santiago’s La Tercera.

• Saturday, November 14th 2009 - 05:47 UTC

  Euro zone “technically” emerges from recession in third quarter

  

  The 16-strong group of nations in the Euro-zone has “technically” emerged from recession, official figures show. European countries using the single currency grew their collective economy 0.4% in the third quarter.

• Friday, November 13th 2009 - 01:08 UTC

  Gibraltar Chief Minister upbeat about economic prospects for 2010

  

  Gibraltar is not just having a relatively good level of economic activity during global recession and financial crisis, but is further positioning itself well to move into a significant new growth phase when the global economy and markets recover.

• Friday, November 13th 2009 - 01:04 UTC

  Brazil says massive blackout was caused by a lightning storm

  

  Brazilian officials stated the blackout that left at least 60 million of people in the dark in Brazil and neighbouring Paraguay Tuesday was caused by a lightning storm.

• Thursday, November 12th 2009 - 06:37 UTC

  Brazil can’t explain the four hours massive blackout

  

  The world’s largest operational hydroelectric dam, Itaipú which on Tuesday caused a four hours blackout in 16 of Brazil’s 27 states and most of Paraguay was back in full production early morning Wednesday but authorities have so far remained silent about the causes of the major turnoff.

• Wednesday, November 11th 2009 - 10:55 UTC

  IEA forecasts 40% energy demand growth by 2030; mostly fossil fuels

  

  World global demand for energy which has fallen in 2009 because of the recession is forecasted to soar 40% by 2030 and the Copenhagen summit next month will be “crucial” to design an energy sustainable future according to the “World Energy Outlook 2009” released in London by the International Energy Agency.

• Tuesday, November 10th 2009 - 08:23 UTC

  New UK energy plan anticipates 40% nuclear power by 2025

  

  A huge expansion of nuclear power was signalled Monday by the British Government as it named 10 sites where new power stations could be built. The first is set to be operational by 2018 and, by 2025 nuclear electricity generation could amount to around 40% of new energy provision.

• Saturday, November 7th 2009 - 16:32 UTC

  Petrobras testing discovery of “huge” natural gas reserves in Peru’s Amazon

  

  Brazil's Petrobras said on Friday it is still studying drilling results from lot 58 in Peru's Amazon and has yet to estimate natural gas deposits there, a day after Peruvian President Alan Garcia said the company struck a large find.

• Thursday, November 5th 2009 - 09:51 UTC

  Petrobras receives Chinese financing to develop sub-salt oil resources

  

  Brazil's government managed oil and gas group Petrobras announced Wednesday it had signed a contract permitting the first payment from a 10 billion US dollar loan from China to help it finance upcoming investments.