Energy & Oil

Saturday, May 9th 2009 - 01:20 UTC
Oil companies’ delegation visits Falklands in anticipation of drilling

Representatives of oil companies intending to drill in North and South basins around the Falkland Islands say they are, “…as confident as they can be in an exploration setting,” that they will be successful in their endeavour to recover oil in commercial quantities.
Friday, May 8th 2009 - 10:59 UTC
Lula da Silva and Lugo suspend signing of bilateral agreements

Visiting Paraguayan president Fernando Lugo and his counterpart host Brazil’s Lula da Silva ended Thursday evening their first private meeting with out any statements or having signed several bilateral agreements which were ready to be stamped.
Friday, May 8th 2009 - 10:22 UTC
Chavez to begin taking over oil industry contractors

State owned Petróleos de Venezuela S.A. PDVSA, will begin Friday taking over control of some oil-field services currently being provided by private firms, President Hugo Chávez said.
Wednesday, May 6th 2009 - 13:03 UTC
Drought forces Brazil to increase gas imports from Bolivia

Brazil will increase the amount of natural gas it imports from Bolivia later this month to bring on stream several thermoelectric power plants that had been inactive, Brazilian government managed energy company Petrobras said.
Wednesday, May 6th 2009 - 12:44 UTC
Lula da Silva wants more “clean” energy but also “more crude”

Brazilian President Lula da Silva said that while his government will continue promoting the use of “clean” energy sources such as ethanol and bio-diesel, he wants government managed oil company Petrobras to press ahead in the search for additional crude.
Wednesday, May 6th 2009 - 10:22 UTC
Brazil promises “fair and viable” solution for Itaipu differences with Paraguay

Brazilian president Lula da Silva and the ministerial cabinet will consider Wednesday a “fair and viable” solution to differences with Paraguay regarding the energy from the world’s largest operational hydroelectric dam, Itaipú, announced in Brasilia Foreign Affairs minister Celso Amorim.
Monday, May 4th 2009 - 07:55 UTC
Six companies present offers for potential natural gas deposits in Uruguay

Six foreign companies have presented offers to explore a natural gas deposit off Uruguay's Atlantic coast, announced Uruguay’s government owned oil company Ancap, Administración Nacional de Combustibles, Alcohol y Portland
Saturday, May 2nd 2009 - 09:45 UTC
Brazil launches project to become leading oil super-power

Brazil government managed energy company Petrobras on Friday lifted the first sub-salt oil from the massive, ultra-deep, offshore Tupi field in the Santos basin, an action Brazil's government hopes will launch a new era for Latin America's largest economy.
Saturday, May 2nd 2009 - 09:39 UTC
“Itaipú proposal” waits President Lugo when he visits Brazil

Brazil could anticipate payments to Paraguay for the energy from the shared huge Itaipu dam, which should help the Treasury of the weakened President Fernando Lugo. However Brazil would also like to see an end to Paraguay’s intention of modifying the Itaipu dam accord, according to the Brazilian press quoting government sources.
Friday, May 1st 2009 - 12:53 UTC
Brazil’s pre-salt basin oil extraction becomes commercial operation

Petrobras, Brazil’s state-managed oil company will begin Friday to extract oil from the off-shore pre-salt Tupi field and is “very secure” about production expectations, said Guilherme Estrella, head of exploration and production.