Energy & Oil

Thursday, November 22nd 2007 - 20:00 UTC
God has second thoughts: Brazil oil output down 5%

The day after President Lula da Silva said that “God is Brazilian”, following the discovery of massive new oil reserves offshore, Petrobras reported that the country's domestic oil output fell 2.3% in October from September in its fourth straight monthly drop totaling a steep 5% below year-ago levels.
Wednesday, November 21st 2007 - 20:00 UTC
Argentina/Brazil to jointly explore for South Atlantic oil

Brazil's Petrobras and Argentina' energy company, Enarsa will cooperate in offshore hydrocarbons exploration in the South Atlantic was announced Monday in Brasilia following the meeting in Brasilia of President Lula da Silva with visiting elected president Cristina Kirchner.
Tuesday, November 20th 2007 - 20:00 UTC
Desire Petroleum to complete survey in North Falkland Basin

Desire Petroleum plc announced that Wavefield InSeis ASA will return to the North Falkland Basin later this month to complete the site survey programme started earlier this year.
Monday, November 19th 2007 - 20:00 UTC
G 20 warns on risks to growth, inflation and energy prices

Leaders of the world's 20 largest economies stressed on Sunday warned of rising risks to economic development and inflation, and the need for new energy supplies as global economic growth continue to stumble over high oil prices.
Monday, November 19th 2007 - 20:00 UTC
Opec divided on US dollar but pledges reliable oil supply

Opec leaders meeting in Riyadh pledged to provide the world with reliable supplies of oil and fight global warming but the summit's final statement made no mention of calls by oil-consuming countries such as that from Washington to raise production to ease sky-high prices.
Saturday, November 17th 2007 - 20:00 UTC
Magallanes extends oil licences to five global companies

Five international corporations have won bids for hydrocarbons exploration and production in nine out of ten blocks in the extreme south of Chile, --Magallanes Region--, was announced on Thursday by the country's Deputy Mining Minister Diego Vio in Punta Arenas.
Saturday, November 17th 2007 - 20:00 UTC
Chavez warns US at Opec summit but is rebuked by Saudis

In his opening address at a rare Organisation of Petroleum Exporting Countries (Opec) summit in the Saudi capital, Hugo Chavez, the Venezuelan president, has warned the US over rising oil prices.
Friday, November 16th 2007 - 20:00 UTC
Venezuela, like Iran to launch peaceful nuclear program

Venezuelan President Hugo Chávez this week told a French TV channel that Venezuela, just like Iran, is launching a peaceful nuclear program.
Friday, November 16th 2007 - 20:00 UTC
“Weak US dollar” at the heart of the OPEC Riyadh summit

A blunder by OPEC on Friday exposed serious discrepancies between Saudi Arabia and Iran about whether the oil exporters' group should address the issue of the falling dollar at a rare summit of leaders this weekend in Riyadh.
Thursday, November 15th 2007 - 20:00 UTC
OPEC: no output increase decision until December

The Organisation of Petroleum Exporting Countries (OPEC) ruled out an output increase in the coming summit and said that the surge in global fuel prices can not be tracked to shortage of oil in the market and certainly not because of the fast-growing Indian and Chinese economies.