Energy & Oil

Monday, September 22nd 2008 - 21:00 UTC
Jittery markets hike oil price which settles at 120 US dollars

Reflecting uncertainties about the US government 700 billion US dollars bail out plan and its consequences on the US dollar, oil prices on Monday jumped briefly 25 US dollars before falling back to 120.97 US dollars a barrel
Friday, September 19th 2008 - 21:00 UTC
Russia will send high level delegation to OPEC meeting

Russia will send a high-level delegation to the OPEC meeting in Algeria on December Energy Minister Sergei Shatko said on Friday.
Wednesday, September 17th 2008 - 21:00 UTC
Canadian company finds crude in northeast Argentina

An oil deposit was discovered in an exploratory well in the northeast Argentina province of Formosa announced the Canadian company Gran Tierra Energy Inc. The Calgary based company said Wednesday it plans long-term production testing on the Proa.x-1 well and will begin commercial oil sales in about a week.
Tuesday, September 16th 2008 - 21:00 UTC
Global uncertainty settles oil prices below 100 US dollars

Oil prices lost five US dollars ending Monday below 100 US dollars a barrel for the first time in six months, spurred by concerns about the global economy. With banking giant Lehman Brothers filing for bankruptcy protection, US light sweet crude closed Monday in New York at 95.71 and London Brent 92.38 US dollars a barrel.
Tuesday, September 16th 2008 - 21:00 UTC
Brazil determined to join the exclusive nuclear fusion club

Brazil is determined to join the world's exclusive club of nuclear research and is willing to contribute with a billion US dollars to participate in the ambitious International Thermonuclear Experimental Reactor, ITER project in France.
Friday, September 12th 2008 - 21:00 UTC
EU cuts bio-fuels target for transport road to 10% by 2020

European Union lawmakers voted this week to cut in half an ambitious target for using crop-based bio-fuels for 10% of its road transport needs by 2020. The vote by the European Parliament's industry committee deals a blow to climate change goals agreed by EU leaders last year to try to cut carbon dioxide emissions.
Thursday, September 11th 2008 - 21:00 UTC
Petrobras confirms pre-salt oil reservoir of light oil and gas

Petrobras announced this week that the completion of the Iara well drilling (which first found oil in August 2007) confirmed the discovery of light oil in the Santos basin pre-salt reservoir with a recoverable volume estimated in 3 to 4 billion barrels of light oil and natural gas.
Thursday, September 11th 2008 - 21:00 UTC
Nuclear power predicted to continue to expand strongly

The United Nations International Atomic Energy Agency (IAEA) said on Thursday that nuclear power is expected to continue to expand in the coming decades in line with the growing global demand for energy, while also reporting that the power source's share of global electricity generation dropped another percentage point in 2007 to 14%.
Wednesday, September 10th 2008 - 21:00 UTC
Cautious OPEC to strictly comply with agreed quotas

OPEC has told its members to strictly limit their production to agreed quotas as Brent crude dipped below 100 US dollars a barrel for the first time since April. After talks in Vienna, OPEC president Chakib Khelil said the measures to curb over-production amounted to a cut of 520,000 barrels a day within 40 days.

Prices have sunk from a record of more than 147 US dollars a barrel seen in July.
Tuesday, September 9th 2008 - 21:00 UTC
Enarsa/Enap/YPF oil exploration rig arrives in South Atlantic

This Wednesday an oil exploration platform is scheduled to arrive in the South Atlantic contracted by Argentine state energy company Enarsa, Chilean state oil company Enap Sipetrol international branch and Argentine oil major YPF.