Energy & Oil

• Friday, November 30th 2007 - 20:00 UTC

  Brazil to construct Chile's largest coal fueled complex

  

  Brazil's giant EBX recently announced plans to build the largest coal-fired energy-producing complex in Chile, to be named Castilla, which will be located near the Region III city of Copiapó. Market sources indicate that the investment associated with this type of power plant would exceed 2 billion US dollars.

• Thursday, November 29th 2007 - 20:00 UTC

  Billinton insists with Rio Tinto and making giant company

  

  Resources giant BHP Billiton said Wednesday it still hoped rival Rio Tinto would warm to its uninvited takeover bid, despite opposition from customers who fear it will lead to a stranglehold on prices.

• Wednesday, November 28th 2007 - 20:00 UTC

  Billinton increases interest in FOLG Falklands' exploration

  

  Falkland Oil and Gas Limited (“FOGL”) announced this week that BHP Billiton has decided to exercise its option to increase its interests in FOGL's 2002 and 2004 licences to the South and East of the Falkland Islands.

• Monday, November 26th 2007 - 20:00 UTC

  Production of giant Tupi oilfield by 2010, forecasts Brazil

  

  Brazil's government oil corporation Petrobras has plans to invest 2 to 3 billion US dollars to begin prospecting in the giant deposit of Tupi which has recoverable reserves in the range of 5 to 8 billon barrels of crude and natural gas.

• Friday, November 23rd 2007 - 20:00 UTC

  Brazil, Colombia, Peru in Amazon jungle oil exploration

  

  Government oil corporations from Brazil, Colombia and Peru signed Thursday an agreement in Lima to jointly invest in the exploration and production of hydrocarbons in the Peruvian Amazon.

• Thursday, November 22nd 2007 - 20:00 UTC

  God has second thoughts: Brazil oil output down 5%

  

  The day after President Lula da Silva said that “God is Brazilian”, following the discovery of massive new oil reserves offshore, Petrobras reported that the country's domestic oil output fell 2.3% in October from September in its fourth straight monthly drop totaling a steep 5% below year-ago levels.

• Wednesday, November 21st 2007 - 20:00 UTC

  Argentina/Brazil to jointly explore for South Atlantic oil

  

  Brazil's Petrobras and Argentina' energy company, Enarsa will cooperate in offshore hydrocarbons exploration in the South Atlantic was announced Monday in Brasilia following the meeting in Brasilia of President Lula da Silva with visiting elected president Cristina Kirchner.

• Tuesday, November 20th 2007 - 20:00 UTC

  Desire Petroleum to complete survey in North Falkland Basin

  

  Desire Petroleum plc announced that Wavefield InSeis ASA will return to the North Falkland Basin later this month to complete the site survey programme started earlier this year.

• Monday, November 19th 2007 - 20:00 UTC

  G 20 warns on risks to growth, inflation and energy prices

  

  Leaders of the world's 20 largest economies stressed on Sunday warned of rising risks to economic development and inflation, and the need for new energy supplies as global economic growth continue to stumble over high oil prices.

• Monday, November 19th 2007 - 20:00 UTC

  Opec divided on US dollar but pledges reliable oil supply

  

  Opec leaders meeting in Riyadh pledged to provide the world with reliable supplies of oil and fight global warming but the summit's final statement made no mention of calls by oil-consuming countries such as that from Washington to raise production to ease sky-high prices.