Energy & Oil

• Monday, January 26th 2009 - 20:00 UTC

  Brazilian-made oil semi-sub platform begins production

  

  Brazil's government managed oil and corporation Petrobras announced that the first semi-submersible platform built entirely in Brazil, went on stream Sunday, beginning the production of well MLS-99, in the Marlim Sul field, in the Campos Basin.

• Monday, January 26th 2009 - 20:00 UTC

  Petrobras/Repsol strike gas in Santos basin shallow waters

  

  The Consortium formed by Brazil's government managed oil and gas corporation Petrobras and Spain's Repsol announced the discovery of a “thick column of natural gas” in the offshore Santos basin, southeast of Brazil.

• Thursday, January 22nd 2009 - 20:00 UTC

  Exxon finds evidence of oil in Brazil's pre-salt basin

  

  Exxon Mobil Corp., Hess Corp. and Petrobras found evidence of oil at an offshore block in Brazil's Santos Basin in an area close to the largest oil discovery in three decades in the American continent.

• Thursday, January 22nd 2009 - 20:00 UTC

  Argentina's crude output down for seventh year running

  

  Argentina's oil production fell for the seventh consecutive year in 2008, declining 1.8% to 230 million barrels, according to a report from an economic consulting firm cited Wednesday in the Buenos Aires press.

• Thursday, January 22nd 2009 - 20:00 UTC

  Petrobras averaged 2.4 million bpd output during 2008

  

  Brazilian government managed energy giant Petrobras produced an average of 2.4 million barrels per day of crude and natural gas at its operations inside and outside Brazil in 2008, an increase of 4.3%, or roughly 100,000 barrels of oil equivalent per day, compared to 2007.

• Monday, January 19th 2009 - 20:00 UTC

  Venezuela supports OPEC production cuts of 2 to 4m bpd

  

  Venezuela is ready to sponsor a new cut in crude production to protect the oil market, two to four million barrels per day, confirmed Rafael Ramirez, Energy Minister and President of Petroleos de Venezuela (PDVSA), the country's government owned oil corporation.

• Saturday, January 17th 2009 - 20:00 UTC

  Spain's Repsol announces oil discovery offshore Brazil

  

  Spanish oil company Repsol anounced this week the discovery of “traces” of hydrocarbons at a deepwater well being drilled off the Brazilian coast. In an official statement Repsol said the well was completed in Block BM-S-48, located in the Santos Basin off the coast of the south-eastern state of Sao Paulo.

• Friday, January 16th 2009 - 20:00 UTC

  World oil demand forecasted to continue contracting

  

  While oil prices ended this week's trading in the range of 35 US dollars the barrel, the International Energy Agency (IEA) has cut its estimates on world oil demand and for the first time since 1982-1983, expects two consecutive years of contracting demand for crude oil.

• Thursday, January 15th 2009 - 20:00 UTC

  Dr. Colin Phipps, a visionary of the Falklands oil future

  

  Dr Colin Phipps, long linked to the Falkland Islands and one of the driving forces behind the promising frontier oil industry passed away in London on January 10.

• Thursday, January 15th 2009 - 20:00 UTC

  Chile-Peru consortium to invest in natural gas plant

  

  A Chilean-Peruvian consortium plans to invest 650 million USD in a project to produce ammonium and ammonium nitrate from natural gas, Peruvian President Alan Garcia said Wednesday.