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Venezuela’s PDVSA to import Urals crude from Russia for test runs

According to an unnamed source, PDVSA is planning to import between 750,000 and 1 million barrels of Urals grade crude from Russia. The shipment is expected to be available by mid-November and will be processed in the Isla refinery located in Curacao. by Mery Mogollo, Platts, October 13, 2014 Venezuelan state-owned oil company PDVSA plans to…

Venezuela halted Citgo sale on low bids, creditor worry

When bids came in well below the $10 billion asking price, Venezuela decided to scrap the sale of U.S. refining unit, Citgo. The announcement, made by finance minister, Rodolfo Marco, indicates that the Venezuelan government is trying to send signals to foreign bankers and bondholders who saw the potential Citgo sale as a negative for…

Brazil protects giant swathe of Amazon rainforest

Tuesday, the Brazilian government announced it put an area of the Amazon rainforest under federal protection. The environmentally rich area is larger than the U.S. state of Delaware and has been named Alto Maues. Under protection as a federal reserve means that forest clearing and similar development in the area are forbidden. by Marcelo Teixeira, Reuters,…

Scottish sea power: driving drive down energy prices in Chile

Energy experts in Scotland think that with the help of wave and tidal energy, Chile may be able to receive cheap electricity in its remote communities. Chile has plenty of wave-energy resource and could even become an energy exporter at some point in the future, when cost-effective transportation of energy over long distances are found….

Pemex to invest $1.4 bn in cogeneration projects

In order to supply electricity to its refineries in Tula, Hidalgo and Cadereyta, Pemex plans to invest $1.4 billion in two cogeneration projects. Deals were signed between Pemex and both Mexica-Canadian consortium, Hermes Atco and Japan’s Mitsui in order to build power generation projects at the refineries. by EFE, Fox News Latino, October 28, 2014…

Mexico to launch shallow water tenders in November

According to the energy minister, the first tenders for private firms to partner with Pemex in shallow water oil and gas extraction will take place in the first half of November. During the first half of Devember, bases for tenders for extra heavy crude projects will be launched, followed by onshore and deepwater projects tendered…

Climatescope 2014 – Global study shows clean energy activity surges in developing world

According to a Climatescop 2014 report, developing nations represent a large and rapidly growing share of the world’s clean energy investment. The findings of the report show that clean energy capacity in 55 emerging markets in Africa, Asia and Latin America and the Caribbean are growing at a faster pace than in developed countries. by…

Pemex and Chevron sign cooperation agreement

Pemex and Chevron Corporation have signed an agreement to seek petroleum industry opportunities that will be beneficial for both companies. The plan is to look at deepwater and natural gas exploration, heavy crude oil production, revitalization of mature fields. refining and fuel distribution. by EFE, Fox News Latino, October 27, 2014 State-owned oil giant Petroleos…

Venezuelan finance minister rules out Citgo Petroleum sale

Venezuela’s Finance Minister, Rodolfo Marco, has announced that the country has ruled out the sale of US refining subsidiary, Citgo Petroleum. Instead, the country will continue to invest in Citgo’s refineries. PDVSA was hoping that the company would sell for between $8 billion and $10 billion, but the valuation was priced well below that amount….

Risen Energy to build a plant in Mexico

Risen Energy to build a plant in Mexico

Risen Energy is planning to invest $600 million on the building of a 300 megawatt solar photovoltaic power plant in Mexico. The solar energy company’s investment marks the largest investment deal ever between China and Mexico, and is expected to kickstart further Latin American expansion. by Shi Xiaofeng, China Daily USA, October 24, 2014 A solar…

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