Energy & Oil

Monday, January 28th 2008 - 20:00 UTC
“Cheap” energy costs Argentina billions and more blackouts

Keeping electricity rates frozen cost the Argentine Treasury four billion US dollars in four years, from 2003 to 2007. A sum which could have been invested in six 800 MW thermal generation plants or two gas pipelines from Bolivia according to Argentina's Cammesa, manager of the country's wholesale electricity market.
Monday, January 28th 2008 - 20:00 UTC
Brazil plans to build nuclear sub with French technology

Brazil is seeking to acquire military technology from France that could help it become the first country in Latin America to have a nuclear submarine, the Defense Ministry said on Monday.
Sunday, January 27th 2008 - 20:00 UTC
Oil discovery to double Argentine Patagonia production

Argentina's Patagonian hydrocarbons rich province of Chubut announced this week the discovery of new oil deposits that will help double the province's production, anticipated Governor Mario Das Neves.
Thursday, January 24th 2008 - 20:00 UTC
Petrobras discovers second offshore huge gas reservoir

Brazil's government managed oil company Petrobras announced this week the discovery of a huge second natural gas field 290 kilometeres off the coast of Rio do Janeiro and 40 kilometeres north of the Tupi field which is thought to be one of the largest discovered in the past twenty years.
Wednesday, January 16th 2008 - 20:00 UTC
Chile fragile energy situation and new dams controversy

Ed. Note: This opinion piece, which first appeared in the Chilean daily La Tercera, gives the background to Chile's looming energy problems and then proceeds to pitch the line that is touted by Chile's media and business establishment: “build dams in Chile's water-rich Patagonia area to solve the energy problem; build the HidroAysen project.” 'HidroAysen' is joint venture involving Spanish-Italian electricity giant Endesa and Chilean energy company Colbún.
Wednesday, January 16th 2008 - 20:00 UTC
OPEC: no oil shortage; investors abandoning US dollar

OPEC is ready to increase its output if the fundamentals of supply and demand justify such a move, but does not believe there is a current shortage of oil in the market, the cartel's secretary-general Abdallah el-Badri said on Wednesday.
Monday, January 14th 2008 - 20:00 UTC
Magallanes oil/gas exploration contracts ready for next March

Chile's Ministry of Mines expects to sign next March oil operating contracts with the corporations that have won licences to explore and exploit hydrocarbons in the extreme south of the country reports La Prensa Austral from Punta Arenas.
Monday, January 14th 2008 - 20:00 UTC
Peru en route to become regional natural gas power

Spain's Repsol announced the discovery of a new gas deposit at block 57 in Peru's Cuzco department that holds 56.6 billion cubic meters. The discovery was made at exploratory well Kinteroni X1 where initial production tests have reached 1Mm3/d of gas and 198m3 of associated liquid hydrocarbons.
Saturday, January 12th 2008 - 20:00 UTC
Air conditioner census to combat power cuts in Argentina

Although the Argentine government refuses to use the word “crisis”, President Cristina Fernandez de Kirchner launched Friday the energy rational consumption program geared to alleviate the power cuts and shortages that have plagued the city of Buenos Aires and metropolitan area.
Saturday, January 12th 2008 - 20:00 UTC
Brazilian oil and iron companies largest in Latinamerica

Brazilian oil company Petrobras and mining company Companhia do Vale do Rio Doce (CVRD) ended 2007 as the two largest companies in Latin America by market capitalization, according o a study carried out by consulting company Economática and released this week.