Energy & Oil

• Thursday, February 7th 2008 - 20:00 UTC

  Chile ready to announce electricity saving measures

  Depleted reservoirs, the recent closure of a major generating plant and an expected consumption surge in March have Chilean authorities concerned about Chile's ability to meet its growing electricity needs.

• Thursday, February 7th 2008 - 20:00 UTC

  Drilling record: 7 miles extended-reach oil well off Russia

  

  Exxon Mobil Corporation, the world's largest oil company recently broke its own industry record for the longest “extended-reach” oil well: more than seven miles from the frigid shores of Sakhalin Island off Russia's east coast.

• Wednesday, February 6th 2008 - 20:00 UTC

  F Times: Argentine energy model “unsustainable”

  

  The energy model championed by Argentine President Cristina Fernández and her husband, former President Néstor Kirchner, keeping domestic energy prices and utilities tariffs artificially low to boost an economy recovering from a debt and devaluation crisis in 2001-2002, looks increasingly unsustainable.

• Wednesday, February 6th 2008 - 20:00 UTC

  Peru en route to become significant LN gas exporter

  

  Peru's liquefied natural gas exporting project will receive a 300 million US dollars loan from the International Finance Corporation of the World Bank, reported the bank.

• Saturday, February 2nd 2008 - 20:00 UTC

  At least ten days to repair disrupted global net services

  A submarine cable in the Middle East has been snapped, adding to global net problems caused by breaks in two lines under the Mediterranean on Wednesday, reports the BBC.

• Friday, February 1st 2008 - 20:00 UTC

  OPEC leaves output unchanged: market remains well supplied

  The Organization of Petroleum Exporting Countries, OPEC, left its oil production ceiling unchanged on Friday ignoring United States demands for an increase. The cartel insisted that the market remained well supplied and seemed to focus on supporting prices which have fallen 10% since the beginning of the year.

• Thursday, January 31st 2008 - 20:00 UTC

  Petrobras after Exxon's downstream assets in S. America

  Brazil's government managed Petrobras will bid strongly for Exxon's downstream assets in South America, O Globo newspaper reported this week from Rio do Janeiro.

• Wednesday, January 30th 2008 - 20:00 UTC

  Oil corporations will overhaul contracts with Ecuador

  The five foreign hydrocarbons corporations operating in Ecuador said they are willing to overhaul their contracts with the government. President Rafael Correa who is seeking to increase control over the country's key sector said he wants oil firms to strike an agreement in 45 days.

• Tuesday, January 29th 2008 - 20:00 UTC

  Argentine oil regions also interested in a share of YPF

  

  The Spanish oil corporation Repsol SA could sell a 5 to 10% of its Argentine unit YPF to four local provinces, Madrid's El Mundo reported, citing unnamed sources close to negotiations between Repsol chairman Antoni Brufau and governor of the Chubut province Mario Das Neves.

• Tuesday, January 29th 2008 - 20:00 UTC

  Petrobras ranked sixth among leading oil corporations

  

  Brazil's government oil managed corporation Petrobras finished 2007 in sixth place of PFC Energy 50's ranking, which lists the world's largest oil companies based on their market values.