Thursday, Jul 29th
Last update:11:47:18 PM GMT
Caracas. President Hugo Chavez threatened Sunday to cut off oil sales to the United States if Venezuela is attacked by its U.S.-allied neighbor Colombia in a dispute over allegations that Venezuela gives haven to Colombian rebels.
Bogota. Investment in Colombia's mining and energy industry is expected to reach $57 billion over the next five years, Mining Minister Hernan Martinez said Thursday.
"The industry already has firm promises for these investments," Martinez said, adding that the money would be spent in oil, mining, electricity and biofuel projects.
La Paz. Hydrocarbons minister Fernando Vincenti confirmed that Bolivia is interested in extending its natural gas pipeline network to add Paraguay and Uruguay to its list of clients now limited to Mercosur main associates, Brazil and Argentina.
Rio de Janeiro. State-controlled energy giant Petrobras began commercial crude production Thursday from a deepwater deposit in the pre-salt region, which the government is touting as the future of Brazil's oil industry.
Paris. Latecomer Total (TOTF.PA) now sees huge potential in Brazil's oilfields and aims to enter a bidding round for licenses that it expects the country to hold in 2011 or 2012 after a new law on foreign participation clears the way.
Total announced last week the acquisition of a 20 percent interest in Royal Dutch Shell's (RDSa.L) BM-S-54 license in the offshore Santos Basin, 200 km south of Rio de Janeiro, where both groups hopes to start exploration drilling at year-end.
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