Energy in South America

  • China State Grid evaluates the assets of Spanish group Abengoa in Brazil

    CHINA, 2016/04/07 Staff from China National Grid visited the power transmission projects in Brazil owned by Spanish group Abengoa to consider a possible acquisition of these assets, Reuters reported Tuesday. The Spanish group, which requested creditor protection in November 2015 due to debts that could reach 25 billion euros, has ended any investment in Brazil, leaving some work to be completed.

  • Petrobras production from pre-salt fields reaches milestone 800.000 bpd

    BRAZIL, 2015/05/16 The 800Mbbl/d output was reached just eight years after first oil was discovered in the pre-salt layer in 2006. The milestone was reached using 39 production wells, 20 of which are in the Santos Basin, which accounts for 64% of the output—511Mbbl/d—while the other 19 wells in the Campos Basin account for 36% of the output –291Mbbl/d. On the day the record was completed, 11 definitive production systems and one early production system were operating, and seven were exclusively producing oil from the pre-salt.

  • Peru in need of US$2bn/y exploration boost - Perupetro

    PERU, 2013/11/10 Peru's oil and gas exploration sector will need investments of at least US$2bn/y to guarantee next increase, according to the country's hydrocarbons promotion agency Perupetro. And developers must invest additional in data acquisition programs to attract flagging interest from investors, Perupetro's president Luis Ortigas said during the 10th BNamericas Southern Cone Energy Summit in Lima on Wednesday. "There needs to be better investments to better study new areas and make opportunities additional attractive," Ortigas said.

  • Latin America facing energy credit crunch

    PERU, 2013/11/10 Latin America's Atlantic nations face a credit vacuum for next energy projects amid rising political and economic uncertainty, according to Peruvian pension fund group Asociación de AFP. Speaking during the 10th BNamericas Southern Cone Energy Summit in Lima on Thursday, the association's president Luis Valdivieso Montano said lenders had begun to separate the region's key markets. He cited Colombia, Chile, Peru, Panama and Mexico as nations that are being prioritized by financial institutions.

  • China will build and finance two dams in Patagonia equivalent to 10% of Argentine power demand

    CHINA, 2013/08/27 The hydroelectric project is expected to generate 1,740 megawatts of electricity in the sparsely populated Patagonia province of Santa Cruz, which as well happens to be the political turf of President Cristina Fernandez and her late husband Nestor Kirchner. Hydroelectric dams currently account for about 30% of the power generated in Argentina The government says the dams will help curb Argentina's need to import diesel and liquefied natural gas and save some 1.1bn dollars a year. Argentina's rising energy deficit has become so significant that trouble paying for energy imports has led the government to implement a host of unpopular economic policies, inclunding a ban on the purchase of foreign currencies, principally US dollars.

  • China will build and finance two dams in Patagonia equivalent to 10% of Argentine power demand

    CHINA, 2013/08/27 The hydroelectric project is expected to generate 1,740 megawatts of electricity in the sparsely populated Patagonia province of Santa Cruz, which as well happens to be the political turf of President Cristina Fernandez and her late husband Nestor Kirchner. Hydroelectric dams currently account for about 30% of the power generated in Argentina The government says the dams will help curb Argentina's need to import diesel and liquefied natural gas and save some 1.1bn dollars a year. Argentina's rising energy deficit has become so significant that trouble paying for energy imports has led the government to implement a host of unpopular economic policies, inclunding a ban on the purchase of foreign currencies, principally US dollars.

  • Maduro declares electricity ‘emergency’ and calls the Army in support

    VENEZUELA, 2013/04/28 Officials have blamed periodic blackouts on sabotage and excessive consumption, while critics say the sector is suffering from poor management and inefficiency following the late popular leader Hugo Chavez's nationalization of the sector. Maduro, who won a vote to succeed his former mentor Chavez this month, has promised a government of “efficiency” to tackle day-to-day problems like power outages plaguing the 29 Venezuelans, particularly in the provinces.

  • Brazil’s electricity producing nuclear plants,

    BRAZIL, 2013/04/22 A draft law was approved this week by the Committee on Mines and Energy which would see any company 'exploiting nuclear power' pay 10% of related revenue to local governments as a kind of compensation. The proceeds, based on gross electricity generation, would be split between the local municipality, the local national and potentially neighbouring states as well.

  • Rising demand for electricity in Colombia,

    COLOMBIA, 2013/03/01 Rising request for electricity in Colombia, fuelled by a period of sustained economic expansion, has prompted the national to roll out a series of large-scale infrastructure projects in the energy sector. However, while new projects will play a major role in boosting production capacity, energy security remains a concern, particularly the reliance on hydraulic energy sources.

  • President Cristina Fernandez Kirchner and UAE president Khalifa bin Zayed

    ARGENTINA, 2013/01/17 The bilateral agreement was signed by UAE Foreign minister Abdullah bin Zayed Al Nahyan and his Argentine counterpart Hector Timmerman, at a ceremony witnessed by President Cristina Fernandez Kirchner and UAE president Khalifa bin Zayed al Nahyan. The transaction makes Argentina the ninth country to have signed nuclear ties with the UAE.
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