Energy & Oil

• Monday, February 26th 2007 - 21:00 UTC

  Russia's gas giant and Petrobras sign cooperation accord

  

  Gazprom and Brazilian oil company Petrobras have signed last week an agreement on hydrocarbon cooperation, the Russian energy giant revealed in a news release Monday.

• Wednesday, February 21st 2007 - 20:00 UTC

  Argentina joins the Orinoco heavy oil industry

  

  Venezuela's Hugo Chavez and Argentina's Nestor Kirchner inaugurated Wednesday the first well in the heavy-crude Orinoco strip to be operated by Argentine companies.

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

  Respsol-YPF plans seismic surveying in Malvinas basin

  

  The Spanish oil consortium Respsol-YPF in planning to undertake seismic surveying in the Malvinas basin in 2008, and could invite Argentina's new government owned oil company Enarsa to participate in the operation

• Sunday, February 18th 2007 - 20:00 UTC

  ENAP drills for natural gas in continental Magallanes

  Chile's oil corporation ENAP began drilling for natural gas last February 15 in continental Magallanes Region in an area identified as Dorado-Riquelme to the north east of Punta Arenas.

• Friday, February 16th 2007 - 20:00 UTC

  Oil threat ups security

  

  Venezuela will reinforce security measures after a branch of al Qaeda called for attacks on suppliers of oil to the United States, the defence minister said on yesterday.

• Thursday, February 15th 2007 - 20:00 UTC

  Brazil-Bolivia agree higher gas price for supply security

  Brazil will pay about 11% more for natural gas from Bolivia under a deal presidents Lula da Silva and Evo Morales signed Thursday in Brazil and that could resolve a year of tense relations between the South American nations.

• Wednesday, February 14th 2007 - 20:00 UTC

  Petrobras profits slump 36% in 4Q

  

  Brazilian state oil company Petrobras said yesterday fourth-quarter profit fell 36 percent, hit by higher production costs that its chief executive said were worrisome.

• Tuesday, February 13th 2007 - 20:00 UTC

  Oil production costs rise 53%

  

  The cost of producing oil and gas has risen about 53 percent in the past two years, and the trend is expected to continue this year, according to a report released yesterday.

• Tuesday, February 13th 2007 - 20:00 UTC

  Brazil describes Bolivia's foreign policy: “childish”

  

  Brazil described as “childish and amateur” Bolivia's indication that it may cancel a scheduled presidential bilateral summit, if Brazil does not pay more for Bolivian natural gas.

• 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.