Energy & Oil

Thursday, August 9th 2007 - 21:00 UTC
Ecuador/Venezuela plan largest oil refinery in Pacific coast

Ecuador and Venezuela subscribed Thursday an agreement for the construction of the largest crude refinery in the South American Pacific coast with a capacity of 300.000 barrels per day.
Wednesday, August 8th 2007 - 21:00 UTC
OPEC contrary to increasing crude output in September

Despite calls from consumers for more crude to lower prices from near record highs, the Organization of Petroleum Exporting Countries, OPEC, does not believe it's necessary to raise output when it meets next September 11.
Monday, August 6th 2007 - 21:00 UTC
Brazil's Petrobras wants to sell gas to Chile

The Brazilian gas company Petrobras wants to export Liquefied Natural Gas (LNG) to the Chilean market.
Wednesday, August 1st 2007 - 21:00 UTC
Venezuela looking for oil offshore Cuba, 100 miles from the US

Venezuelan government oil company, PDVSA begins this week hydrocarbons exploration in six blocks offshore Cuba, 100 miles from the United States coast, with prospects of finding abundant light crude.
Wednesday, August 1st 2007 - 21:00 UTC
World fears that oil could reach new record prices

Oil prices are nearing an all time record after supply concerns on Tuesday lifted them above 78 US dollars a barrel, almost the 78.40 reached in the aftermath of the Lebanon conflict in July 2006.
Wednesday, August 1st 2007 - 21:00 UTC
OPEC holds 77.2% of proven global oil reserves

The Organization of Petroleum exporting countries, OPEC, holds 77.2% of the world's proven reserves and 49.3% of natural gas, according to the latest Annual Statistical Bulletin for 2006, an anticipation of which was released this week in Vienna but will be officially presented on September 13.
Wednesday, August 1st 2007 - 21:00 UTC
Oil industry forecasts consolidation of Falklands' offshore companies

Consolidation among the four major players in the upstream oil and gas exploration sector in the South Atlantic off of the Falkland Islands is likely in the short-term, reported this week the Financial Times.
Saturday, July 28th 2007 - 21:00 UTC
Chavez claims partners have “frozen” his huge gas pipeline project

Venezuela's Hugo Chavez said he felt disappointed that his jumbo gas pipeline proposal to supply the South American continent had been “frozen” by several of the potential beneficiaries of the multi billion project.
Thursday, July 26th 2007 - 21:00 UTC
Rockhopper completes volumetric work in North Falklands' basin

Rockhopper Exploration plc, the North Falkland Islands explorer, announced that volumetric work has been completed on the Company's leads and prospects in licences PL023 and PL024. The work suggests un-risked P50 recoverable reserves of in aggregate 2.5 billion barrels of oil providing encouragement against the backdrop of an easing rig market.
Tuesday, July 24th 2007 - 21:00 UTC
Methanex in Punta Arenas will search for its own natural gas

The world's leading and largest producer of methanol, Methanex Corporation said Monday that it had joined Wintersall from Germanay and GeoPark Holdings to bid for natural gas concessions in the extreme south of Chile.