Energy & Oil

• Friday, August 22nd 2008 - 21:00 UTC

  Brazil's ultra-deep water oil deposits production in 2013

  

  Brazil's state-run oil company Petrobras CEO Sergio Gabrielli said Friday he expects new ultra-deep-water finds to yield 100,000 barrels of oil a day by 2010 and announced the company would begin testing production in the fields next September 2 although “we don't expect the new fields to have a significant impact on oil production until 2013”.

• Thursday, August 21st 2008 - 21:00 UTC

  Brazil undecided on how new oil resources should be developed

  

  Brazilian President Luiz Inacio Lula da Silva is pondering whether to create a new state-run oil company to manage oil production from Brazil's new sub-salt reserves, according to press reports in Sao Paulo

• Wednesday, August 20th 2008 - 21:00 UTC

  Comodoro Rivadavia readies to become oil exploration town

  

  A jack-up oil platform for exploration in shallow waters is expected to arrive in the coming weeks in the Argentine San Jorge Gulf basin where three exploratory wells have been scheduled for drilling plus a fourth offshore Santa Cruz province, according to reports in the Argentine press.

• Wednesday, August 20th 2008 - 21:00 UTC

  Venezuela supports production oil cut if prices continue to fall

  

  Venezuela will sponsor an oil production cut at the next OPEC (Organization of Petroleum Exporting Countries) meeting in September if prices continue to fall, cautioned Energy minister Rafael Ramírez in Caracas.

• Thursday, August 14th 2008 - 21:00 UTC

  Chile's top tourism official warns on dam project for Patagonia

  

  Chile's director of tourism bureau, SERNATUR Oscar Santelices said that the country's tourism industry is worried about potential negative effects of the HidroAysén dam project slated for Chilean Patagonia.

• Thursday, August 14th 2008 - 21:00 UTC

  YPF announces plans for off-shore drilling in Santa Cruz

  

  Argentine Oil Corporation YPF announced this week a 500 million US dollars annual investment plan to be mainly implemented in the Patagonian province of Santa Cruz to help sustain hydrocarbons extraction in the San Jorge Gulf basin

• Thursday, August 14th 2008 - 21:00 UTC

  Desire Petroleum closer to begin drilling in Falklands

  

  AIM listed Desire Petroleum Plc. announced on Thursday that a formal farm-out agreement has been entered into with Arcadia Petroleum Ltd following the approval of the Falkland Islands Government.

• Thursday, August 14th 2008 - 21:00 UTC

  Brazil invests in research for bio-fuels from micro-algae

  

  Brazil will allocate 4.5 million Reais (approx. 2.8 million US dollars) in non-refundable credits to research projects exploring the use of aquaculture or micro-algae products in biodiesel production.

• Wednesday, August 13th 2008 - 21:00 UTC

  Energy short Chile looks for potential alternative sources

  

  As global temperatures and energy prices soar, scientists, policymakers and environmentalists throughout the world are scrambling for solutions. For its part, Chile could meet as much as half its electricity demands with clean energy, according to a report released Friday by energy experts from the Universidad de Chile and Universidad Tecnica Federico Santa Maria.

• Thursday, August 7th 2008 - 21:00 UTC

  Brazil and Paraguay ready for the Itaipu energy price dispute

  Paraguay and Brazil are preparing for a long dispute over prices from energy generated in South America's largest dam, shared by the neighboring countries, but which is almost entirely absorbed by the industrial hub of Sao Paulo.