Energy & Oil

• Thursday, March 20th 2008 - 21:00 UTC

  Lack of Argentine gas forces Methanex redundancies

  

  Methanex in the extreme south of Chile announced this week it will have to cut its work force in approximately 15% because of the insufficient supply of Argentine natural gas.

• Wednesday, March 19th 2008 - 21:00 UTC

  Brazil considering higher taxes for new oil explorations

  

  Brazil is considering raising taxes paid by companies to explore for new oil and gas fields in the country to take into account recent big finds in the sub-salt cluster, Brazilian energy Minister Edison Lobao said on Tuesday.

• Wednesday, March 19th 2008 - 21:00 UTC

  Brazil resumes construction of nuclear power plant

  

  Following on Brazil's National Energy Policy Council recommendations the President Lula da Silva administration has given the green light for the resumption of construction of the third reactor at the Angra nuclear power plant, reports Sao Paulo's Gazeta Mercantil.

• Tuesday, March 18th 2008 - 21:00 UTC

  Venezuela wins asset freeze case against Exxon

  

  Exxon Mobil Corp.'s freeze on $12 billion of assets belonging to Venezuela's state oil company was overturned by a U.K. court in a set-back for the U.S. energy company in its dispute with President Hugo Chavez.

• Thursday, March 13th 2008 - 21:00 UTC

  Petrobras diversifies LNG provision; signs accord with Shell

  

  Brazil's government managed oil corporation Petrobras and Shell have signed a liquefied natural gas (LNG) “firm” supply agreement to furnish the Pecém (Ceará) and Baía de Guanabara (Rio de Janeiro) re-gasification terminals.

• Thursday, March 13th 2008 - 21:00 UTC

  Oil and Euro deny the Central bankers' revival plan a chance

  

  Oil prices which reached 110.20 US dollars a barrel and the Euro which hit a new record high of 1.55 US dollars seem to have reduced the central banks concerted effort to a mere one day good intention.

• Tuesday, March 11th 2008 - 21:00 UTC

  Chile/Ecuador agree to explore for gas in Gulf of Guayaquil

  Chile and Ecuador will join in exploring for oil in the Gulf of Guayaquil, visiting Ecuadorian President Rafael Correa said Monday in Santiago.

• Tuesday, March 11th 2008 - 21:00 UTC

  Argentina hikes gas export tax to ensure domestic demand

  Argentina will raise taxes on the country's natural gas exports in an effort to ensure domestic energy supplies, Planning Minister Julio De Vido said on Monday. The amount of the increase was not immediately disclosed but the move hiked taxes already in place on Argentine natural gas exports.

• Friday, March 7th 2008 - 21:00 UTC

  Argentina/Venezuela complement “food and energy” axis

  Argentina and Venezuela are countries of “absolute and necessary complementation in the context of the main axis of the XXI century, food and energy” said Argentine president Cristina Fernandez de Kirchner on Thursday following the signing of food for energy agreements with Venezuela's Hugo Chavez.

• Friday, March 7th 2008 - 21:00 UTC

  Forbes: Buffett dethrones Bill Gates as world's richest

  After thirteen years on top, Bill Gates is no longer the richest man in the world. That honor now belongs to his friend and sometimes bridge partner Warren Buffett, according to a report from Forbes magazine.