Energy & Oil

• Monday, January 22nd 2007 - 20:00 UTC

  Chile opens Tierra del Fuego for oil/gas exploration

  Chile will call an international bid for the exploration of hydrocarbons in the extreme south of the country during the first half of this year, announced Karen Poniachik, the country's Minister of Energy and Mines.

• Thursday, January 18th 2007 - 20:00 UTC

  Oil prices continue to slide

  Oil prices dropped below US$ 51,80 a barrel to new 19-month lows yesterday on a report that OPEC powerhouse Saudi Arabia said further production cuts are not necessary right now.

• Wednesday, January 17th 2007 - 20:00 UTC

  Petrobras begins natural gas off shore production

  

  Brazil's government controlled oil corporation Petrobrás announced this week the start of natural gas production offshore the state of Bahia, which should increase supply in the northeast of the country helping to reduce the strong dependency from Bolivia.

• Saturday, January 13th 2007 - 20:00 UTC

  Petrobras announces 2 billion dollars in Argentina over 5 years

  Brazilian state-run oil company Petrobras's Argentine unit Petrobras Energía SA “plans to invest more than two billion dollars over the next five years in Argentina” and start this year exploring oil on Argentina's territorial sea, Petrobras Energía new Director General Carlos Fontes said.

• Friday, January 12th 2007 - 20:00 UTC

  China concerned with energy and environment costs

  The Chinese economy expanded 10.5% in 2006, the fourth year running it has been growing at double digit pace revealed on Friday Ma Kai head of the powerful Development and Reform Committee, NDRC.

• Wednesday, January 10th 2007 - 20:00 UTC

  Petrobras inaugurates “vessel platform” off Rio do Janerio

  Brazil's government managed hydrocarbons corporation Petrobras begun Tuesday oil and gas extraction from the new Cidade do Rio de Janeiro vessel-platform in the Espadarte field, belonging to the Campos Basin.

• Saturday, January 6th 2007 - 20:00 UTC

  Bolivia instruments gas agreement with Argentina

  Bolivia's government owned petroleum corporation YPFB will be announcing next week companies interested in supplying natural gas to Argentina following on the agreement recently signed and extending until 2026.

• Thursday, January 4th 2007 - 20:00 UTC

  Petrobras joins the 100 billion dollars select club

  Brazil's mostly government owned oil corporation Petrobras celebrated this week its entry to the select group of world companies with a market value over 100 billion US dollars.

• Thursday, January 4th 2007 - 20:00 UTC

  Cuba reaches 50% self sufficiency in oil consumption

  

  Cuba reached its target of 3.9 million tons of oil and gas in 2006, while foreign companies in association with the local Cubapetroleo, CUPET, corporation continue exploration in 30 other wells, reported Havana authorities.

• Wednesday, January 3rd 2007 - 20:00 UTC

  Soaring temperatures put heat on Argentina's powergrid

  

  Summer has come to Argentina with a vengeance, bringing temperatures soaring above 40 degrees Celsius this week and almost unbearable loads on the power system.