Energy & Oil

• Monday, April 28th 2008 - 21:00 UTC

  OPEC and Bush agree: speculation dominates oil prices

  

  For once OPEC and US president George Bush seem to agree there's no short term fix to oil international prices. The convergence occurred Monday as crude prices edged closer to 120 dollars a barrel, fueled by the shutdown of a key pipeline and concerns about violence in Nigeria.

• Thursday, April 24th 2008 - 21:00 UTC

  North Falklands Basin oil pre-drilling campaign begins

  

  Rockhopper Exploration plc announced it was moving to the final phase prior to the drilling campaign for hydrocarbons in the North Falkland Basin which will involve two to four wells out of a potential of eight with another company.

• Thursday, April 24th 2008 - 21:00 UTC

  Lack of rains forecasts energy rationing in Chile

  Chile seems to be inevitably heading for a serious energy shortage in the coming months with electricity rationing almost a certain possibility because of the hydrological conditions suffered by the country under the full impact of the Pacific Ocean La Niña current.

• Tuesday, April 22nd 2008 - 21:00 UTC

  Oil producing countries fear bio-fuels competition

  Saudi Arabia admitted that petroleum producing countries are concerned with the competition of alternative fuels, such as bio-fuels and with the determination of many countries to ensure their “energy independence”.

• Tuesday, April 22nd 2008 - 21:00 UTC

  Chile's energy bill forecasted to increase 2.8 billion US dollars

  With the international price of oil closing on 120 US dollars a barrel and the need for greater purchases of oil, diesel fuel and natural gas, Chile estimates the additional cost this year in 2.8 billion US dollars according to the government owned oil corporation ENAP, CEO Enrique Davila.

• Tuesday, April 22nd 2008 - 21:00 UTC

  OPEC to boost production 5 million bpd …by 2012

  The Organization of Petroleum Exporting Countries, OPEC plans to boost its oil production target capacity by 5 million barrels a day by 2012, the organization's secretary-general said Tuesday in Rome.

• Monday, April 21st 2008 - 21:00 UTC

  IEA: world's energy economy is not on sustainable path

  

  “With oil prices surging over 110 US dollars a barrel and growing concerns over the environmental repercussions of the world's spiraling energy demand, the dialogue between energy producing and consuming countries is more meaningful than ever”, said Nobuo Tanaka, Executive Director of the International Energy Agency (IEA).

• Thursday, April 17th 2008 - 21:00 UTC

  Brazil promises full debate on bio-fuels at Sao Paulo summit

  

  Brazil expects to host representatives from 190 countries, including several world leaders for the International Conference on Bio-fuels which is scheduled for next November in Sao Paulo.

• Thursday, April 17th 2008 - 21:00 UTC

  YPF oil and gas reserves down 20% in two years

  

  Spain's Repsol YPF revealed Wednesday in an official document that the company's oil and gas proven reserves in Argentina had dropped 20.3% in the course of two years.

• Thursday, April 17th 2008 - 21:00 UTC

  Petrobras oil and gas production: 2.1 million bpd in March

  

  Petrobras, Brazil's government managed hydrocarbons corporation, increased oil and gas production an average 1.4% during March reaching 2,114,089 barrels of oil equivalent per day (boe).