Energy & Oil

• Friday, March 7th 2008 - 21:00 UTC

  Argentina/Venezuela complement “food and energy” axis

  Argentina and Venezuela are countries of “absolute and necessary complementation in the context of the main axis of the XXI century, food and energy” said Argentine president Cristina Fernandez de Kirchner on Thursday following the signing of food for energy agreements with Venezuela's Hugo Chavez.

• Friday, March 7th 2008 - 21:00 UTC

  Forbes: Buffett dethrones Bill Gates as world's richest

  After thirteen years on top, Bill Gates is no longer the richest man in the world. That honor now belongs to his friend and sometimes bridge partner Warren Buffett, according to a report from Forbes magazine.

• Thursday, March 6th 2008 - 21:00 UTC

  OPEC freezes oil output and blames US for high crude prices

  

  OPEC accused the United States on Wednesday of economic “mismanagement”, which it said is pushing oil prices to new record highs and rejected calls to increase output. Oil prices surged for the first time past 104 US dollars a barrel after OPEC's announcement and a US government release showing a surprise drop in crude stockpiles.

• Sunday, March 2nd 2008 - 21:00 UTC

  Gas reserves horizon in Argentina falls from 25 to 9 years

  Argentina's natural gas reserves have dropped dramatically from a 25 years horizon to just 9 years between 2001 and 2005, according to a report from the Nation's General Auditing Office, AGN, covering 1993 to 2006.

• Friday, February 29th 2008 - 21:00 UTC

  Chile preparing for energy rationing: voltage reduced 10%

  

  The specter of energy shortages in Chile reared its head again this week, as the Ministry of Economy released a short-term plan to confront the country's increasingly perilous energy scenario, particularly the prospect of electricity rationing, which the government last instituted in 1998. The order contains 30 points that intend to help Chile's electricity providers to operate responsibly in the coming year.

• Friday, February 29th 2008 - 21:00 UTC

  Argentina plans LNG import by sea to face winter shortage

  

  Argentina is planning to import, by sea, liquid gas, LNG, in the coming months in an effort to anticipate and contain a repeat of past winters shortages, reports the Friday edition of the Buenos Aires press.

• Thursday, February 28th 2008 - 21:00 UTC

  Talks for an OPEC gas cartel advancing announces Iran

  Algeria, Iran, Qatar, and Russia are holding consultations on the creation of an OPEC-like gas cartel, with the structure of the organization being the main topic on the agenda, said Iranian Ambassador to Russia Gholmreza Ansari.

• Wednesday, February 27th 2008 - 21:00 UTC

  “OPEC should not lower output”, with current oil prices

  

  The Organization of Petroleum Exporting Countries (OPEC) should not interfere with production quotas at its meeting on March 5 if prices remain at their current levels, said Rilwanu Lukman, oil adviser to the President of Nigeria. Oil prices this week hovered in the range of 100 US dollars a barrel.

• Tuesday, February 26th 2008 - 21:00 UTC

  “Four years of energy crisis” forecasts Lula da Silva

  

  Brazilian president Luiz Inacio Lula da Silva forecasted that the current “energy crisis” will extend for “at least another four years” both for Brazil and Argentina since only then, Bolivia will be producing sufficient natural gas to supply domestic and neighboring markets.

• Monday, February 25th 2008 - 21:00 UTC

  “Uruguay oil round” scheduled for next November

  Next November Uruguay will extend a formal invitation to all those oil companies interested in considering the hydrocarbons potential of the country, based on a battery of data collected during the last few years, according to top officials from the country's government owned petroleum and fuels monopoly Ancap.