Energy & Oil

• Wednesday, July 30th 2008 - 21:00 UTC

  Oil exploration in Magallanes Region begins next month

  

  Several international oil companies awarded exploration blocks in Chile's extreme southern Magallanes region should begin oil and gas exploration in August, the government said on Tuesday.

• Wednesday, July 30th 2008 - 21:00 UTC

  Alternative energy: 12 wind turbines for Valparaiso

  

  Plans are underway in Chile to invest 47 million US dollars in a wind park at Punta Curaumilla in Region V's Laguna Verde. The project comprises of 12 wind turbines with a 2MW capacity each and seeks to light up 10,000 homes and businesses in the Valparaíso region.

• Tuesday, July 29th 2008 - 21:00 UTC

  OPEC president predicts oil below 100 USD a barrel

  

  The price of crude sunk to below 121 US dollars a barrel, touching on its lowest point since May, in the wake of a strengthening dollar and the comments of OPEC president Chakib Khelil, who called current prices “abnormal” and predicted that the barrel price could sink below 100 dollars in the long term.

• Monday, July 28th 2008 - 21:00 UTC

  Chilean commuters take to bikes to keep fit and save

  

  Chilean bike manufacturers and promoting groups reported this week that bicycle sales increased 30% during the first six months of 2008 in Santiago. New lightweight and easily transportable aluminum bikes have much to do with this sharp increase in sales and bike use, as do increased petroleum prices and new bicycle cycle lanes

• Monday, July 28th 2008 - 21:00 UTC

  UK Government blamed for fuel prices said nationwide poll

  

  More than a third of people in the UK believe the Government is primarily responsible for high fuel prices, a new poll has shown.

• Monday, July 28th 2008 - 21:00 UTC

  Proud Chavez shows “why don't you shut up?” t shirt

  

  Venezuelan president Hugo Chavez during his weekly program “Hello President” exhibited a t short with the phrase “Why don't you shut up?”, a gift from the King of Spain during his recent visit to several European countries.

• Thursday, July 24th 2008 - 21:00 UTC

  Arctic holds massive oil and gas reserves say US scientists

  

  The Arctic could hold as much as 90 billion barrels of undiscovered oil and has as much undiscovered gas as all the reserves known to exist in Russia, US government scientists have said in the first governmental assessment of the region's resources.

• Tuesday, July 22nd 2008 - 21:00 UTC

  Massive investment in Magallanes region gas exploration

  

  Chile's government owned oil and gas company ENAP is planning to invest over 300 million US dollars in the next three years to develop natural gas deposits in Magallanes Region, in the extreme south of the country.

• Monday, July 21st 2008 - 21:00 UTC

  Paraguay downplays discovery of oil in commercial volumes

  

  The Paraguayan government confirmed the existence of oil deposits in an inhospitable area to the north of the country. However one long year must elapse before the deposits can be considered commercially exploitable.

• Monday, July 21st 2008 - 21:00 UTC

  Mercosur “fantastic but frustrated” idea, ripe in mistakes

  

  Mercosur is an idea which “involved a fantastic but frustrated will power” according to former Spanish Socialist president Felipe Gonzalez. A previous common infrastructure commitment is more important for integration that having “political groupings such as Mercosur”.