Energy & Oil

• Monday, February 16th 2009 - 20:00 UTC

  Chile with World Bank support turns to wind energy

  

  The World Bank Group is sponsoring with 61.5 million US dollars the construction of the first wind farm in Chile, advancing the development of renewable energy in Chile.

• Thursday, February 12th 2009 - 20:00 UTC

  UK oil industry warns of low prices effect on production

  

  Industry group Oil & Gas UK said the combination of low oil prices and the freezing of capital markets will have a marked effect on exploration and development activity in the UK over the next 12-18 months.

• Tuesday, February 10th 2009 - 20:00 UTC

  Brazil's Petrobras may explore Uruguay oil

  

  Brazil's PETROBRAS oil company was the first company to acquire the bid sheet for hydrocarbon exploration contracts in areas of the Uruguayan continental platform.

• Tuesday, February 10th 2009 - 20:00 UTC

  Colombia and S. Korea expand into Peruvian oil industry

  

  Colombian state oil company Ecopetrol and its South Korean counterpart, Korea National Oil Corporation, have acquired Peruvian private oil firm Petro-Tech Peruana S.A. for 900 million US dollars.

• Tuesday, February 10th 2009 - 20:00 UTC

  Falklands Desire's green impact plan slightly delayed

  

  Oil and gas exploration company Desire Petroleum Plc with licences to operate in the Falkland Islands said that the environmental impact assessment on two tranches in its southern licences in the North Falkland Basin was slightly behind schedule due to a delay in a sampling analysis results.

• Tuesday, February 10th 2009 - 20:00 UTC

  Bolivia and Gazprom sign long term gas development deal

  

  Bolivia and Russia signed a long term agreement on investment and cooperation in the area of gas and petroleum research which is estimated could reach 3 billion US dollars, it was announced in La Paz.

• Tuesday, February 10th 2009 - 20:00 UTC

  Brazil electricity demand to increase 50% in ten years

  

  Brazil needs to increase its electricity generation capacity by 50% over the next 10 years said Energy Minister Edson Lobao, who described the task as an “enormous challenge”.

• Tuesday, February 10th 2009 - 20:00 UTC

  Now Congress two houses must match Obama stimulus plan

  

  The US Senate has passed an economic stimulus plan expected to cost some 838 billion US dollars. The Democratic-controlled Senate voted 61-37 to approve the measure, with few Republicans opting to back it.

• Monday, February 9th 2009 - 20:00 UTC

  Germany changes economic helmsman in the middle of storm

  

  Karl-Theodor zu Guttenberg is to become Germany's new economy minister, following the surprise resignation of his predecessor Michael Glos. Mr Zu Guttenberg has been proposed by his party, the Bavarian-based Christian Social Union (CSU), and his appointment is due to be a formality. At 37-years-old, he will become the youngest ever person to fill the role.

• Monday, February 9th 2009 - 20:00 UTC

  OPEC calls for full compliance with agreed supply cuts

  

  The oil cartel OPEC is willing to cut crude output further at a meeting in March, the group's secretary-general said on Monday in London. But he also underlined he would like to see full compliance of members with existing curbs first.