Energy & Oil

Saturday, October 11th 2008 - 21:00 UTC
Price of crude has plunged 50% since July's peak

The price of crude oil has now plunged by almost 50% since striking record high levels above 147 US dollars per barrel on July 11. Trading on Friday was below 80 US dollars a barrel as demand declines amid a worsening economic outlook caused by a global credit crisis.
Wednesday, October 8th 2008 - 21:00 UTC
Oil below 90 USD prompts OPEC emergency meeting

OPEC is consulting on whether to hold an emergency meeting on November 18 to discuss the impact of the global financial crisis on the oil market, Libya's top oil official said on Wednesday.
Tuesday, October 7th 2008 - 21:00 UTC
FAO underscores “opportunities and risks” of bio-fuels

Global bio-fuel policies should be urgently reviewed to ensure that the world's poor benefit by ending trade-distorting subsidies favouring developed nations while countering the rise in food prices sparked by the diversion of foodstuff to energy production, according to a new United Nations report released today.
Monday, October 6th 2008 - 21:00 UTC
Mrs. Kirchner opens oil exploration in South Atlantic

Argentine president Cristina Fernandez de Kirchner officially marked on Monday the beginning of operations of a South Atlantic oil rig, the first to be fully financed by Argentine government and private investors.
Saturday, October 4th 2008 - 21:00 UTC
“Suitcase” airport official contradicts Antonini's version

A former Argentine airport officer who became a model and television star testified in a US court Friday about discovering a suitcase stuffed with nearly $800,000 in cash brought to a Buenos Aires airport from Venezuela.
Friday, October 3rd 2008 - 21:00 UTC
World oil demand at its lowest in 5 years; outlook bearish

The outlook for oil demand is weakening, shifting the sentiment of oil markets from bullish to bearish according to a report from the Saudi Arabia's Arab News daily.
Thursday, October 2nd 2008 - 21:00 UTC
Uruguay/US sign renewable energy memorandum

United States and Uruguay signed Wednesday in Washington a memorandum to advance bilateral cooperation on renewable energy and energy efficiency. The document was signed by Assistant Secretary of State for Western Hemisphere Affairs Thomas A. Shannon and Uruguayan Foreign Affairs Minister Gonzalo Fernández
Wednesday, October 1st 2008 - 21:00 UTC
Ecuador calls on Europe to reform migration policies

Ecuador spoke out against the European Union's policy on migration during the General Assembly's annual high-level debate Tuesday, stressing the need to protect the right of people to move freely.
Wednesday, October 1st 2008 - 21:00 UTC
Europe fines nine oil companies for the “paraffin mafia”

The European Commission fined on Wednesday nine petrochemical companies a total of 676 million Euros for forming a “paraffin mafia” to fix prices and carve up markets for wax.
Wednesday, October 1st 2008 - 21:00 UTC
Brazilian sugar and ethanol coop plans to triple production

Brazil's largest sugar and ethanol cooperative Copersucar said on Wednesday it had become a company and plans to triple its production in the next ten years. Founded in 1959 Copersucar expanded operations and became one of the world's biggest private exporters of sugar and ethanol.