Energy & Oil

Wednesday, December 5th 2007 - 20:00 UTC
OPEC maintains oil output; quotas to new members

OPEC froze oil output levels on Wednesday, resisting calls for a hike to help cool sky-high prices that have flirted with 100 dollars and which threaten to dampen global economic growth.
Tuesday, December 4th 2007 - 20:00 UTC
Contract to explore world's largest iron ore deposit

Bolivian President Evo Morales has signed into law a contract for India's Jindal Steel and Power to develop the massive El Mutun iron ore deposit through a 2.1 billion US dollars investment, believed to be the largest foreign investment in Bolivia's history.
Monday, December 3rd 2007 - 20:00 UTC
Punta Arenas methanol plant diversifies gas supply

Canada's Methanex Corporation the world's largest producer of methanol announced it agreed to finance Chilean natural gas explorations by GeoPark holdings in exchange for a share of the gas it finds in the Magallanes basin.
Monday, December 3rd 2007 - 20:00 UTC
OPEC meeting in Abu Dhabi divided over pumping more oil

Oil prices rebounded Monday as speculation grew that OPEC may decide to leave output unchanged at a meeting this week in Abu Dhabi. New York's light sweet crude for January delivery, closed at 89.31 dollars per barrel and in London Brent North Sea crude jumped 1.54 dollars to settle at 89.80 dollars.
Friday, November 30th 2007 - 20:00 UTC
China interested in South Atlantic oil and gas exploration

China is interested in exploring for hydrocarbons on continental Argentina and in the South Atlantic, revealed Beijing's new ambassador in Buenos Aires Zeng Gang. He also said that talks for a possible joint undertaking offshore with Argentina's oil corporation Enarsa are also advancing.
Friday, November 30th 2007 - 20:00 UTC
Brazil to construct Chile's largest coal fueled complex

Brazil's giant EBX recently announced plans to build the largest coal-fired energy-producing complex in Chile, to be named Castilla, which will be located near the Region III city of Copiapó. Market sources indicate that the investment associated with this type of power plant would exceed 2 billion US dollars.
Thursday, November 29th 2007 - 20:00 UTC
Billinton insists with Rio Tinto and making giant company

Resources giant BHP Billiton said Wednesday it still hoped rival Rio Tinto would warm to its uninvited takeover bid, despite opposition from customers who fear it will lead to a stranglehold on prices.
Wednesday, November 28th 2007 - 20:00 UTC
Billinton increases interest in FOLG Falklands' exploration

Falkland Oil and Gas Limited (“FOGL”) announced this week that BHP Billiton has decided to exercise its option to increase its interests in FOGL's 2002 and 2004 licences to the South and East of the Falkland Islands.
Monday, November 26th 2007 - 20:00 UTC
Production of giant Tupi oilfield by 2010, forecasts Brazil

Brazil's government oil corporation Petrobras has plans to invest 2 to 3 billion US dollars to begin prospecting in the giant deposit of Tupi which has recoverable reserves in the range of 5 to 8 billon barrels of crude and natural gas.
Friday, November 23rd 2007 - 20:00 UTC
Brazil, Colombia, Peru in Amazon jungle oil exploration

Government oil corporations from Brazil, Colombia and Peru signed Thursday an agreement in Lima to jointly invest in the exploration and production of hydrocarbons in the Peruvian Amazon.