Energy & Oil

Thursday, August 21st 2008 - 21:00 UTC
Brazil undecided on how new oil resources should be developed

Brazilian President Luiz Inacio Lula da Silva is pondering whether to create a new state-run oil company to manage oil production from Brazil's new sub-salt reserves, according to press reports in Sao Paulo
Wednesday, August 20th 2008 - 21:00 UTC
Comodoro Rivadavia readies to become oil exploration town

A jack-up oil platform for exploration in shallow waters is expected to arrive in the coming weeks in the Argentine San Jorge Gulf basin where three exploratory wells have been scheduled for drilling plus a fourth offshore Santa Cruz province, according to reports in the Argentine press.
Wednesday, August 20th 2008 - 21:00 UTC
Venezuela supports production oil cut if prices continue to fall

Venezuela will sponsor an oil production cut at the next OPEC (Organization of Petroleum Exporting Countries) meeting in September if prices continue to fall, cautioned Energy minister Rafael Ramírez in Caracas.
Thursday, August 14th 2008 - 21:00 UTC
Chile's top tourism official warns on dam project for Patagonia

Chile's director of tourism bureau, SERNATUR Oscar Santelices said that the country's tourism industry is worried about potential negative effects of the HidroAysén dam project slated for Chilean Patagonia.
Thursday, August 14th 2008 - 21:00 UTC
YPF announces plans for off-shore drilling in Santa Cruz

Argentine Oil Corporation YPF announced this week a 500 million US dollars annual investment plan to be mainly implemented in the Patagonian province of Santa Cruz to help sustain hydrocarbons extraction in the San Jorge Gulf basin
Thursday, August 14th 2008 - 21:00 UTC
Desire Petroleum closer to begin drilling in Falklands

AIM listed Desire Petroleum Plc. announced on Thursday that a formal farm-out agreement has been entered into with Arcadia Petroleum Ltd following the approval of the Falkland Islands Government.
Thursday, August 14th 2008 - 21:00 UTC
Brazil invests in research for bio-fuels from micro-algae

Brazil will allocate 4.5 million Reais (approx. 2.8 million US dollars) in non-refundable credits to research projects exploring the use of aquaculture or micro-algae products in biodiesel production.
Wednesday, August 13th 2008 - 21:00 UTC
Energy short Chile looks for potential alternative sources

As global temperatures and energy prices soar, scientists, policymakers and environmentalists throughout the world are scrambling for solutions. For its part, Chile could meet as much as half its electricity demands with clean energy, according to a report released Friday by energy experts from the Universidad de Chile and Universidad Tecnica Federico Santa Maria.
Thursday, August 7th 2008 - 21:00 UTC
Brazil and Paraguay ready for the Itaipu energy price dispute

Paraguay and Brazil are preparing for a long dispute over prices from energy generated in South America's largest dam, shared by the neighboring countries, but which is almost entirely absorbed by the industrial hub of Sao Paulo.
Thursday, August 7th 2008 - 21:00 UTC
Petrobras announces new light oil discovery off Rio

Brazil's government managed oil and gas corporation Petrobras announced on Thursday a new discovery of light oil with an API grade of around 30 in the ultra deep Santos Basin off the Sao Paulo coast.