Energy & Oil

Thursday, May 21st 2009 - 11:14 UTC
Oil-export fuelled Venezuela feeling the shortage of hard currency

Venezuela's economy grew at its slowest rate in five years during the first quarter, 0.3% (year to year) and the slowest since 2003 reported the Central Bank. Compared with the previous quarter the contraction was 16.4%.
Thursday, May 21st 2009 - 11:02 UTC
Falkland Oil and Gas raises £7.6 million in share issue

Falkland Oil and Gas Ltd (FOGL.L) said on Wednesday it conditionally raised 7.6 million pounds (11.8 million US dollars) to help fund capital expenditure on long-lead drilling equipment, and general and administrative costs through 2010 into 2011.
Monday, May 11th 2009 - 08:05 UTC
Itaipu new deal between Brazil and Paraguay still difficult and distant

Paraguay’s chances of a better deal from Brazil regarding the Itaipu Hydroelectric dam surplus power and its price are seen as “difficult” particularly because Brazil is approaching an electoral year, according to Asuncion press reports from journalists who accompanied President Fernando Lugo in his visit to Brasilia.
Saturday, May 9th 2009 - 07:24 UTC
Brazil and Paraguay could only agree on a new summit in June

Brazil and Paraguay failed to come to an agreement on proposed renegotiation of accords related to the Itaipu hydroelectric facility and are scheduled to meet again in early June, according to Paraguay’s Executive spokesperson Ruben Penayo.
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.