Guilherme Estrella found an undersea lake of oil that may transform Brazil’s economy forever. Now, the exploration chief for Petroleo Brasileiro SA is at the center of a debate over who will profit from it. At stake is how much of Brazil’s newfound riches will be controlled by the state and how much will end up in the pockets of Exxon Mobil Corp., Royal Dutch Shell Plc and other oil companies hungry for new sources of crude. Estrella wants to make Western oil companies little more... Read Full Story

Russian nuclear power plant builder Atomstroyexport will by mid-December meet Turkey's request for further information on the company's bid to build a power plant, a senior company official said on Friday.Atomstroyexport, acting through a consortium with Russian power producer Inter RAO UES and Turkey's Ciner Group, is competing in a tender to build four nuclear reactors in Turkey."Turkey has requested additional information on the project that we proposed at the tender. They have asked for c... Read Full Story

Gazprom Export, the export arm of Russian energy giant Gazprom, has extended a contract to supply natural gas to Slovakia until 2028, Gazprom and Slovensky plynarensky priemysel a.s. (SPP) said in a joint press release.Gazprom Export also signed a deal with Eustream (SPP's subsidiary transiting gas via Slovakia) to transport gas for the same period - until 2028.Under the agreements, which kick in as of January 1, 2009, by 2028, SPP will buy about 130 billion cubic meters of gas while Eust... Read Full Story

Te estas imaginando unas noches de invierno en la capital española Madrid? Esto puedes hacerlo realidad si planificas con tiempo tu viaje y conseguir los mejores precios en transporte, asimismo si no cuentas con alojamiento hay muchas opciones de hoteles en Madrid, puedes contar con el apoyo del portal DESTINIA quienes cuentan con un interfase amigable y fresco que nos facilitara encontrar distintas opciones con las características de calidad y precio al alcance de nuestro bolsillo. En DESTI... Read Full Story

Repsol YPF SA advanced in Madrid trading on reports that OAO Lukoil is in talks to acquire a stake of just under 30 percent in Spain's largest oil company. Repsol gained as much as 2.2 percent and traded up 30 cents at 14.25 euros as of 9:13 a.m. local time. The stock outperformed the Dow Jones Europe Stoxx Oil & Gas Index, which fell 1.5 percent. Lukoil may purchase Sacyr's 20 percent stake in Repsol and an additional 9.9 percent of its shares on the open market, EFE reported yesterday, ... Read Full Story

Crude oil fell for a fifth day, approaching $50 a barrel, as the contracting world economy increases concerns that demand for fuels will slow.U.S. fuel use during the past four weeks averaged 19.1 million barrels a day, down 7 percent from a year ago, an Energy Department report said yesterday. Equities declined with the MSCI Asia Pacific Index dropping for a fourth day while the Dow Jones Industrial Average yesterday fell to the lowest since March 2003.``The big picture remains one of weak d... Read Full Story

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Average UK prices dipped from 106.4p a litre in mid-October to 94.86p a litre in mid-November. The 11.54p drop comfortably beat the previous record fall of 7.9p between mid-August and mid-September this year and is the biggest monthly fall the motoring group has calculated since it started records in the early 1990s.The fall in petrol prices is one of the main reasons why inflation dropped so sharply in October. It is the latest evidence that tumbling commodity prices around the world are fin... Read Full Story

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