Colombian state controlled energy company Ecopetrol S.A. has announced its investment plan for 2010, totalling $6.93 billion, an increase of 11% compared to 2009.
93% of the proposed investment will be concentrated in Colombia, with the remaining 7% earmarked for exploration and production projects in the U.S. Gulf Coast, Brazil & Peru.
Investments in exploration [...]
Brazilian state controlled energy giantPetrobras has announced plans to invest US$1bn in it’s Peruvian operations from 2010-2013.
According to a report from Peruvian news agency Andina report, Petrobras’ CEO José Sergio Gabrielli said investment will be focused on exploration & production activities in blocks which the Brazilian oil major already operates in Peru.
Petrobras’ five-year strategic plan foresees investments outside [...]
Italian energy company Enel has announced that it will invest a further US$7 billion in Latin America over the next five years, providing an indication that the global financial crisis has abated in the region.
“The region is one of the places which has suffered least with the global financial crisis and another important issue [...]
Carlos Villegas, president of the state-owned oil company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), has announced that the country plans to invest US$11 billion in the sector over the next seven years in order to develop its entire oil and gas production chain.
Villegas explained that YPFB needs to invest US$7 billion over this [...]
Colombia expects its oil production to rise to above 800,000 barrels per day next year thanks to output from new fields and technology applied to existing projects.
Whilst Colombia’s oil industry will attract about US$3.5 billion in 2009 from foreign investors, roughly the same amount as last year, Armando Zamora, the head of Colombia’s [...]
Apache secures second Gas Plus supply contract with Argentine energy regulators
Apache Corporation (NYSE: APA) has announced that Argentina’s Federal Energy Secretariat has approved Apache Argentina’s Gas Plus project to supply 10 million cubic feet (MMcf) per day from the Guanaco & Ranquil-Co fields in Neuquen province to Compania Administradora del Mercado Mayorista Electrico [...]
Energía Pacífico to generate electricity using locally available waste, with nearly zero net CO2 emissions
The Inter-American Development Bank (IADB) has approved a $6.5 million long-term loan for Energía Pacífico to build a 15.6-megawatt biomass power plant in Chile. The facility, which will use locally available agricultural, industrial and forestry waste as [...]
Last week Pemex, Mexico’s state run oil company posted a 3.69 billion pesos ($277Mn) loss for Q3 2009. Petroleos Mexicanos, which is the largest company in Mexico, currently ranks 11 in the top 50 oil producers globally.
The company stated that said results had improved due to lower taxes &cheaper fuel imports but [...]
Latin American nations are leading their Western counterparts with respect to diversity in renewable energy. Now GDF Suez has opened its 38 MW wind farm facility at Monte Redondo in Chile.
Work on the wind farm began at the start of this year, with more than $100 million being invested, as GDF Suez commits to [...]
For the last 4 years, soaring worldwide oil prices and 9% growth rates have underpinned President Chavez’s generous social programs & his (none too successful) campaign to build an international anti-American alliance.
The oil windfall saw the socialist government of Venezuela threaten to divert oil exports from the US to competitors in China and India, even [...]