Energy & Oil

• Sunday, March 30th 2008 - 21:00 UTC

  Lights out in climate change event

  

  Sydney was the first major city to begin “Earth Hour”, when at 2000 (0900 GMT), lights went out on landmarks like the Opera House and Harbour Bridge.

• Saturday, March 29th 2008 - 21:00 UTC

  Brazil announces new oil reserves

  A huge offshore oil discovery could raise Brazil's petroleum reserves by a whopping 40 percent and boost this country into the ranks of the world's major exporters, officials said.

• Thursday, March 27th 2008 - 21:00 UTC

  Paraguayan leaders to demand new energy deal with Brazil

  

  The three major candidates for Paraguay's presidential election next April 20 have agreed on one thing this week: Brazil must pay more for energy from the Itaipú dam on a river border between the two nations.

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

  Uruguay hopes to begin offshore oil exploration next year

  

  Uruguay will open its continental platform for oil exploration in 2009 following on encouraging seismic surveys of the area, said this week incoming Minister of Industry and Energy Daniel Martinez.

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

  Fearing inflation Beijing raises banks' reserve ratio

  

  China's Central Bank increased the amount of money commercial banks must keep in reserve just hours after Premier Wen Jiabao warned inflation was a top concern. The People's Bank of China said in a statement the bank reserve ratio would rise half a percentage point to 15.5% from March 25, in yet another bid to implement tight monetary policies and cool the economy.

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

  Russia's Gazprom to develop Bolivia's top natural gas deposits

  

  The world's largest gas company, Russia's Gazprom and Bolivia's government owned oil corporation YPFB signed this week in La Paz an accord to explore for gas in three of the country's southern fields.

• 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.