Energy & Oil

• Tuesday, February 10th 2009 - 20:00 UTC

  Brazil electricity demand to increase 50% in ten years

  

  Brazil needs to increase its electricity generation capacity by 50% over the next 10 years said Energy Minister Edson Lobao, who described the task as an “enormous challenge”.

• Tuesday, February 10th 2009 - 20:00 UTC

  Now Congress two houses must match Obama stimulus plan

  

  The US Senate has passed an economic stimulus plan expected to cost some 838 billion US dollars. The Democratic-controlled Senate voted 61-37 to approve the measure, with few Republicans opting to back it.

• Monday, February 9th 2009 - 20:00 UTC

  Germany changes economic helmsman in the middle of storm

  

  Karl-Theodor zu Guttenberg is to become Germany's new economy minister, following the surprise resignation of his predecessor Michael Glos. Mr Zu Guttenberg has been proposed by his party, the Bavarian-based Christian Social Union (CSU), and his appointment is due to be a formality. At 37-years-old, he will become the youngest ever person to fill the role.

• Monday, February 9th 2009 - 20:00 UTC

  OPEC calls for full compliance with agreed supply cuts

  

  The oil cartel OPEC is willing to cut crude output further at a meeting in March, the group's secretary-general said on Monday in London. But he also underlined he would like to see full compliance of members with existing curbs first.

• Monday, February 9th 2009 - 20:00 UTC

  Russia temporarily bans beef imports from several suppliers

  

  Russia announced it was temporarily suspending beef imports from United States, Canada, Uruguay, Byelorussia and Ukraine because “banned noxious substances” had been detected in some shipments.

• Sunday, February 8th 2009 - 20:00 UTC

  Petrobras elected leading ethical oil and gas company

  

  Brazil's government managed oil and Petrobras was elected the leading ethical reputation multinational enterprise by Geneva-based Covalence Ethical Ranking 2008.

• Saturday, February 7th 2009 - 20:00 UTC

  Reviving the damaged financial system

  

  Restoring financial health will require a three-pronged approach, involving the continued provision of ample liquidity and term funding support from central banks, dealing promptly and aggressively with distressed assets, and recapitalizing viable institutions with public funds.

• Friday, February 6th 2009 - 20:00 UTC

  Repsol in significant oil discovery in Gulf of Mexico

  

  Repsol has made a significant new oil find in the deepwater area of the Gulf of Mexico, in US waters. The discovery was made in the Buckskin well in Keathley Canyon, 300 kilometres offshore Houston.

• Tuesday, February 3rd 2009 - 20:00 UTC

  Coal and oil will make Magallanes “Chile's energy centre”

  

  Magallanes region in the extreme south of Chile is becoming the “energy centre of the country” based primarily on the development of coal resources and the exploration for hydrocarbons said Chile's National Energy Commission president Marcelo Tokman.

• Thursday, January 29th 2009 - 20:00 UTC

  South Georgia turns self sufficient with hydro energy

  

  Since last mid December South Georgia's two settlements Grytviken and King Edward Point (KEP) have been powered by hydro electricity reports the South Georgia Island Newsletter.