Energy & Oil

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.
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.