Energy & Oil

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.
Wednesday, January 14th 2009 - 20:00 UTC
To comply with OPEC, Ecuador cuts private oil output

The Ecuadorian government has decided to suspend oil production by Italy's Agip and France's Perenco, both of which operate in the Amazon region, to comply with new OPEC cuts.
Wednesday, January 14th 2009 - 20:00 UTC
Abundant rainfall “shrinks” Brazil's Bolivian gas demand

Brazil will temporarily shut down power plants fired by natural gas from Bolivia and will reduce imports of the Bolivian fuel through the end of April, announced Mines and Energy mister Edison Lobao.
Wednesday, January 14th 2009 - 20:00 UTC
Brazil exported 620.000 bpd of crude last December

Brazilian state oil company Petrobras exported in December an average of 620,000 barrels of crude per day, establishing a new record.
Wednesday, January 14th 2009 - 20:00 UTC
Uruguay: 6 companies interested in possible offshore oil & gas

Six companies to date have purchased data packages for Uruguay's first offshore Exploration and Production round, mining and energy minister Daniel Martínez said after making a presentation at an energy conference in Santiago de Chile.
Wednesday, January 7th 2009 - 20:00 UTC
Chilean Congress investigates ENAP losses & gas projects

Chile's Lower House unanimously approved this week the naming of a special committee to investigate the financial performance of government owned hydrocarbons corporation ENAP, that suffered huge losses in 2008, and gas exploration projects in Tierra del Fuego which have been described as commercially “non viable”.
Tuesday, December 30th 2008 - 20:00 UTC
Argentina temporarily takes over gas pipeline operator

Argentina appointed a supervisor to help oversee pipeline operator Transportadora de Gas del Norte SA, TGN, after the company said it will default on 22.1 million US dollars debt, Federal Planning Minister Julio De Vido announced Monday.
Tuesday, December 30th 2008 - 20:00 UTC
Petrol price reached three-year low in United Kingdom

The price of petrol has reached a three-year low in the United Kingdom, according to the Automobile Association and reported in the London press. The average cost of petrol at the beginning of this week was 87.79p a litre compared with 88.27p at the end of December 2005.