Energy & Oil

• Thursday, February 28th 2008 - 21:00 UTC

  Talks for an OPEC gas cartel advancing announces Iran

  Algeria, Iran, Qatar, and Russia are holding consultations on the creation of an OPEC-like gas cartel, with the structure of the organization being the main topic on the agenda, said Iranian Ambassador to Russia Gholmreza Ansari.

• Wednesday, February 27th 2008 - 21:00 UTC

  “OPEC should not lower output”, with current oil prices

  

  The Organization of Petroleum Exporting Countries (OPEC) should not interfere with production quotas at its meeting on March 5 if prices remain at their current levels, said Rilwanu Lukman, oil adviser to the President of Nigeria. Oil prices this week hovered in the range of 100 US dollars a barrel.

• Tuesday, February 26th 2008 - 21:00 UTC

  “Four years of energy crisis” forecasts Lula da Silva

  

  Brazilian president Luiz Inacio Lula da Silva forecasted that the current “energy crisis” will extend for “at least another four years” both for Brazil and Argentina since only then, Bolivia will be producing sufficient natural gas to supply domestic and neighboring markets.

• Monday, February 25th 2008 - 21:00 UTC

  “Uruguay oil round” scheduled for next November

  Next November Uruguay will extend a formal invitation to all those oil companies interested in considering the hydrocarbons potential of the country, based on a battery of data collected during the last few years, according to top officials from the country's government owned petroleum and fuels monopoly Ancap.

• Monday, February 25th 2008 - 21:00 UTC

  Falklands' oil drilling prospects boosted by Desire Petroleum

  

  Falkland Islands hydrocarbons exploration development and the potential to hire a rig for a minimum six-well drilling program advanced considerably on Monday when Desire Petroleum announced that it had accepted the terms of an offer to farm in to three of the company's eighteen exploration prospects in the North Falkland basin.

• Sunday, February 24th 2008 - 21:00 UTC

  Britain's Virgin Atlantic in first biofuel flight

  

  The first flight by a commercial airline to be powered partly by biofuel is to take off from London.

• Sunday, February 24th 2008 - 21:00 UTC

  Regional summit anticipates energy shortage next winter

  

  In spite of the smiles and pictures the Buenos Aires presidential summit of leaders from Argentina, Brazil and Bolivia could not agree on a way out to the energy and distribution situation that threatens the three countries this coming winter and apparently could only be solved in the mid term.

• Saturday, February 23rd 2008 - 21:00 UTC

  Argentina, Brazil to build joint uranium enrichment plant

  

  In a declaration spanning energy, transport and space satellite cooperation, Cristina Fernández de Kirchner and visiting Luiz Inácio Lula da Silva of Brazil, instructed their governments to begin negotiations over the next 120 days toward creating the binational commission.

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

  Bolivian gas test for Argentina/Brazil presidential summit

  Argentina may apply pressure on local units of Brazil's government owned Petrobras in a battle to increase its share of Bolivian natural gas supplies and ease potential wintertime shortages, reported on Thursday Buenos Aires daily, Clarin.

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

  Oil price surge is driven by demand growth, argues IMF

  

  The surge in oil prices this week to over 100 US dollars a barrel is part of a trend of higher oil prices driven largely by sustained growth in demand that is likely to have little effect on global growth, according to an International Monetary Fund spokesperson.