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Gasoline Refinery Set For Central America; Presidents Decline To Pick A Site, Noticen Writers
Gasoline Refinery Set For Central America; Presidents Decline To Pick A Site, Noticen Writers
NotiEn: An Analytical Digest About Energy Issues in Latin America
Panama and Guatemala are in contention for the site of the most expensive project ever undertaken in Central America. Ten heads of state, representing the isthmus plus Mexico, Colombia, and the Dominican Republic, met in La Romana, the Dominican Republic, to decide whether a US$6.5 billion gasoline refinery would be built in Puerto Armuelles, Panama, or Puerto Quetzal, Guatemala. Aiming to reduce Central America's energy costs, the refinery, with a capacity of 360,000 barrels per day, would provide the isthmus with gasoline at US$8 a barrel less than open-market prices, according to Mexico's Energy Secretary Fernando Canales.
Ecuador Orders Occidental Petroleum Corporation Out Of The Country For Illegal Sale, Notisur Writers
Ecuador Orders Occidental Petroleum Corporation Out Of The Country For Illegal Sale, Notisur Writers
NotiEn: An Analytical Digest About Energy Issues in Latin America
In mid-May Ecuador's government terminated Occidental Petroleum Corporation's contract to exploit oil resources on one of the country's most productive fields after a 19-month legal prosecution of the company for the unauthorized sale of an oil field. The US retaliated by suspending ongoing trade talks with the Andean country immediately after Energy Minister Ivan Rodriguez found against Los Angeles-based Occidental, also known as Oxy. The move followed an April vote in the Ecuadoran Congress that increased the royalties oil companies operating in Ecuador must pay. Ecuador's termination of Oxy's contract means the largest single corporate entity extracting petroleum there has …
El Salvador's Mayors Sidestep Government On Unique Fuel Deal With Venezuela, Noticen Writers
El Salvador's Mayors Sidestep Government On Unique Fuel Deal With Venezuela, Noticen Writers
NotiEn: An Analytical Digest About Energy Issues in Latin America
El Salvador's Asociacion Internacional de Energia para El Salvador (ENEPASA) has closed a deal with Petroleos de Venezuela (PDVSA) that eliminates the intermediary and promises to funnel less expensive fuel into the gas tanks of the country's drivers. The alcaldias taking advantage of the deal are for the most part governed by Farabundo Marti para la Liberacion Nacional (FMLN) mayors. Thus, there is more to it than cheap gas. This deal is also about rebuffing President Antonio Saca, the legacy of Shafik Handal, and the further adventures of the Alternativa Bolivariana para las Americas (ALBA) in Central America.
Mexico Confirms Discovery Of Vast Oil Field Deep In Gulf Of Mexico, Sourcemex
Mexico Confirms Discovery Of Vast Oil Field Deep In Gulf Of Mexico, Sourcemex
NotiEn: An Analytical Digest About Energy Issues in Latin America
In early March, the state-run oil company PEMEX confirmed the discovery of a vast reserve of crude oil in the deep waters of the Gulf of Mexico. President Vicente Fox's administration was quick to promote the new discovery, given the name Noxal, as a possible substitute for the Cantarell oil field, whose production is projected to decline rapidly in the next several years. The new oil reserve would not be productive, however, for at least 10 years and possibly longer, depending on whether the Mexican government is able to obtain the financing and expertise necessary to begin developing the new …