Energy & Oil

• Thursday, January 10th 2008 - 20:00 UTC

  Specter of energy rationing looms heavily over Brazil

  

  Brazil's Energy Minister denied reports Wednesday that a short supply of natural gas from Bolivia and a lack of rain might force Brazil, which relies heavily on hydroelectric power, to ration energy later this year

• Thursday, January 10th 2008 - 20:00 UTC

  US Co. extracting crude and gas in Tierra del Fuego

  

  Houston independent Apache Corp. reported that its Seccion Banos-2004 well on the Argentine side of Tierra del Fuego is producing 1,635 b/d of oil and 1.3 MMcfd of gas from the Lower Cretaceous Springhill sandstone. The well is the first large producer drilled following Apache's 1,800 sq-km, 3D seismic survey in the area.

• Monday, January 7th 2008 - 20:00 UTC

  New gas field could increase Bolivia's total production 5%

  A new gas field has been found in east Bolivia, which will have a production capacity of 2.4 million-cubic-meter a day by October, Bolivian President Evo Morales announced. The new field, called Tacobo and operated by Argentine Pluspetrol, is located in San Isidro, the Bolivian eastern province of Santa Cruz rich in oil and natural gas reserves.

• Monday, January 7th 2008 - 20:00 UTC

  Argentina bans fuel exports and calls for pump price rollback

  

  Argentina halted fuel exports and called for a pump price rollback on Monday amid reports of fuel shortages, government news agency Telam reported, citing unidentified government sources.

• Sunday, January 6th 2008 - 20:00 UTC

  Argentina and Brazil worry over Bolivia's limited gas supply

  

  Brazilian Mines and Energy minister Nelso Hubner proposed a tripartite meeting with Argentina and Bolivia to ensure the supply of Bolivian natural gas for the two main economies of South America highly energy dependent of their inland resource-rich neighbor.

• Saturday, January 5th 2008 - 20:00 UTC

  OPEC anticipates higher oil prices during first quarter

  

  OPEC president Chakib Khelil said on Saturday that the organization is supplying the international market with enough crude but can't be blamed for record prices. But he anticipated oil prices can be expected to keep rising during the first quarter of this year before stabilizing in the following quarter.

• Friday, January 4th 2008 - 20:00 UTC

  Conservationists condemn Alaskan Ocean oil drilling

  

  Environmental groups have expressed outrage over a decision by the US government to open a huge area off Alaska's northwest coast for oil drilling.

• Thursday, January 3rd 2008 - 20:00 UTC

  OPEC warns oil prices could climb even higher

  

  Oil prices hovered on the record 100 US dollars a barrel even after Indonesia OPEC (Organization of Petroleum Exporting Countries) governor Maizar Rahman said the cartel has the capability to increase production by 500,000 barrels a day in the coming February meeting. However he warned that oil prices could climb even higher.

• Wednesday, January 2nd 2008 - 20:00 UTC

  Russia looks to nuclear cooperation with Uruguay

  

  Russia looks to cooperation in the nuclear energy sphere with Uruguay, the country's ambassador to the Latin American state said on Monday.

• Wednesday, January 2nd 2008 - 20:00 UTC

  Analysts see prospect of 100-dollar oil in 2008

  

  Oil prices of near 100 dollars per barrel caused alarm in consuming countries in 2007 and analysts forecast another tense crude market this year with triple-figure records a real prospect.