Energy & Oil

Saturday, September 6th 2008 - 21:00 UTC
Oil down 40 dollars from its record price of 147 a barrel

Oil prices have dipped below 106 US dollars as traders predicted that rising US unemployment would lead to consumers cutting back on petrol use. US light, sweet crude fell as low as $105.16 a barrel before recovering to settle down $1.66 at $106.23. Brent crude dropped $2.21 to $104.09.
Thursday, September 4th 2008 - 21:00 UTC
Brazil begins test extraction of oil 4.500 mts. below seabed

President Lula da Silva inaugurated this week Brazil's first extraction of oil from deep waters which highlighted techniques to be applied to vast oil fields found even farther offshore and at greater depths.
Tuesday, September 2nd 2008 - 21:00 UTC
Hurricane Gustav downgrade eases oil price

Oil prices have fallen after weather forecasters said Hurricane Gustav had weakened as it hit the US Gulf of Mexico coast south-west of New Orleans.
Monday, September 1st 2008 - 21:00 UTC
Hurricane Gustav: Fears over damage to US oil rigs

With Hurricane Gustav on course to hit the US Gulf of Mexico coast, the damage it does to the region's oil facilities could be a “worst case scenario”.
Thursday, August 28th 2008 - 21:00 UTC
Oil rig for South Atlantic exploration arrives next month

Argentine and Chilean government and private oil companies announced Wednesday they would be investing 150 million US dollars to search for hydrocarbons in the South Atlantic.
Thursday, August 28th 2008 - 21:00 UTC
Energy short Uruguay considering nuclear power alternative

Uruguay will consider resorting to nuclear energy to meet the growing demand for electricity and cut dependency on fossil fuels, announced President Tabare Vazquez from Israel, the first leg of a tour which will also take him to Switzerland and South Korea.
Thursday, August 28th 2008 - 21:00 UTC
Argentina, Brazil to develop nuclear energy agency

Argentina and Brazil are scheduled to address the creation of a bi-national nuclear energy agency when the countries two presidents meet next month in Recife, northeast Brazil, reports the Brazilian press.
Tuesday, August 26th 2008 - 21:00 UTC
Falklands: Results of 3D Interpretation and Operational Update

Rockhopper Exploration plc the AIM traded (RKH) oil and gas explorer with licences in the North Falkland Basin, is pleased to provide an update on further technical work on the 3D seismic collected over licences PL032 and PL033 along with an operational update.
Tuesday, August 26th 2008 - 21:00 UTC
Brazil ponders about wealth from recent huge oil finds

Towering above the beautiful bay of Angra dos Reis near to Rio de Janeiro a vast oil platform stands almost ready to head out to sea. Work is almost completed on Petrobras 51 (P-51) and there seems little doubt it will be put to good use, with Brazil making headlines around the world for its recent oil finds.
Monday, August 25th 2008 - 21:00 UTC
OPEC policy “unchanged” for next September meeting

OPEC is likely to keep oil output policy unchanged at its meeting in September as prices remain high despite a sharp fall from July's peak, a source from the Organization of Petroleum Exporting Countries said on Monday.