Energy & Oil

• Friday, February 9th 2007 - 20:00 UTC

  Venezuela and US energy corporation reach understanding

  

  The Venezuelan government and United States AES Corporation signed Thursday a memorandum of understanding (MOU) for the purchase of AES's 82.14% stake in La Electricidad de Caracas (EDC) for 739.3 million US dollars.

• Wednesday, February 7th 2007 - 20:00 UTC

  Petrobras begins production in the Gulf of Mexico

  

  Brazil's government managed oil company Petrobras announced the beginning of production at the offshore Cottonwood field in the Gulf of Mexico, United States.

• Tuesday, February 6th 2007 - 20:00 UTC

  Falkland Islands Survey Programme Update

  

  Interpretation of the 920km 2D seismic data collected in early 2006 is complete and Rockhopper Exploration is pleased to provide the following exploration update.

• Tuesday, January 30th 2007 - 20:00 UTC

  OPEC's target: oil in the range of 50/55 US dollars per barrel

  

  The Organization of Petroleum Exporting Countries, OPEC, is preparing to implement another round of oil cuts beginning February first, satisfied with its decision to cut supply by 6% that has helped restore market balance.

• Monday, January 29th 2007 - 20:00 UTC

  China begins filling its strategic oil reserves

  

  China's first strategic oil reserve base station has begun to be filled in Ningbo, Zhejiang province, according to reports from the country's National Development and Reform Commission (NDRC). This is the latest step in China's efforts to ensure a strategic oil reserve.

• Wednesday, January 24th 2007 - 20:00 UTC

  Desire Petroleum Updates Falkland Islands Activities

  

  Desire Petroleum plc, the oil and gas exploration company wholly focused on the North Falkland basin, today announces an update on its activities.

• Wednesday, January 24th 2007 - 20:00 UTC

  Latinamerica's major threats: lack of energy and Chavez

  

  Lack of energy, Venezuela's president Hugo Chavez and international terrorism are the major threats for Latinamerica concluded Wednesday several experts from the region in the framework of the World Economic Forum meeting in Davos, Switzerland.

• Wednesday, January 24th 2007 - 20:00 UTC

  Chile to face rise in gas; Chile works on reducing gas dependency

  

  Despite promises last year that gas prices would remain stable in coming months, gas supply company Energas announced Tuesday that prices are to increase by an average of 2.7 percent.

• Tuesday, January 23rd 2007 - 20:00 UTC

  Spanish company plans a 1.2 billion pulp mill in Colonia

  Spain's ENCE unveiled this week in Montevideo plans to produce a million tons of cellulose by September 2009 in a plant to be built in the south west of Uruguay along the River Plate coast.

• 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.