Energy & Oil

• Thursday, June 11th 2009 - 09:05 UTC

  Latinamerica forecasted to contact 1.7% with mild recovery at end of 2009

  

  Latinamerica will experience this year a 1.7% contraction (negative growth), the first time since 2002, basically because of a severe fall in global trade and remittances according to the United Nations Economic Commission for Latinamerica and the Caribbean, CEPAL.

• Thursday, June 11th 2009 - 06:21 UTC

  Low inventories push crude to 71 USD, highest in seven months

  

  Crude prices continued to surge on Wednesday, rallying on the news that US inventories fell more than expected and Chevron confirmed a fire at its Nigerian oil facility. Light, sweet crude for July delivery jumped 1.32 dollars, 1.9%, to settle at 71.33 dollars a barrel on the New York Mercantile Exchange, the highest close in seven months.

• Tuesday, June 9th 2009 - 09:44 UTC

  Repsol, Petrobras and BP to explore for oil next to Falklands’ waters

  

  A consortium led by Spanish oil firm Repsol YPF SA (REP) plans to explore for oil in international waters between Argentina and the Falkland Islands, officials from the company said Monday.

• Tuesday, June 2nd 2009 - 10:35 UTC

  Next July Chile begins to cut its Argentine natural gas dependency

  

  After years of import disruptions and domestic gas shortages, Chile’s energy industry is now eagerly awaiting the arrival of the first liquefied natural gas (LNG) shipment to the country’s new LNG terminal, located in the city of Quintero (Region V).

• Tuesday, June 2nd 2009 - 10:25 UTC

  Patagonia will have the world’s most important wind power park

  

  Spanish energy company Grupo Guascor will build a 2.4 billion US dollars wind power park in Argentine Patagonia, which could be the largest in the world said on Monday Jose Grajales president of the corporation

• Monday, June 1st 2009 - 08:17 UTC

  Blackouts in Cuba if companies don’t comply with restrictions

  

  The Cuban government has threatened with cutting power to companies and entities that do not comply with the “exceptional measures” which become effective Monday to save fuel and help the rapidly deteriorating island’s economy, aggravated by the current global financial crisis.

• Friday, May 29th 2009 - 11:38 UTC

  Boreal summer and OPEC push oil to new six-month high

  

  Oil surged past 65 US dollars a barrel on Thursday to a fresh six-month high after OPEC decided to keep output unchanged and data showed a steep drop in US crude inventories.

• Friday, May 29th 2009 - 08:43 UTC

  Itaipú is a “political problem”, says Lula da Silva’s main advisor

  

  Differences between Brazil and Paraguay over the world’s largest operational hydroelectric dam, Itaipú, are a “political problem” and not an energy issue according to Marco Aurelio García, international affairs advisor to the Brazilian Executive.

• Friday, May 29th 2009 - 05:04 UTC

  Brazil discovers the benefits of efficient cook stoves.

  

  Woodland in Brazil is being cut down, day after day. The local people say they need it to make a living. This is not the Amazon rainforest deforestation, but the woody landscape of Caatinga in the North Eastern corner of Brazil. Caatinga’s inhabitants are cutting wood for cooking.

• Thursday, May 28th 2009 - 12:24 UTC

  Uruguay inaugurates second wind farm with 10 MW capacity

  

  Uruguay officially inaugurated on Wednesday a 10 MW capacity wind turbine park financed and equipped by Spain. The park belonging to Uruguay’s power company UTE is one of the many different efforts to broaden and diversify energy generation in the country.