Commerce

Dominican gov t to purchase Shell s stake in refinery

The official announcement brings an end to Shell's bid to sell its shares in the refinery, a process that began...

The Dominican government announced that has it reached a $110 million deal to buy out Royal Dutch Shell's share in a jointly owned oil refinery. If the agreement is finalized, the Dominican government will boost its stake to 100 percent. Santo Domingo and the Anglo-Dutch oil company have each owned 50 percent in the Refidomsa facility, located on the outskirts...

Detailed info here

Commerce

Lula proposes global pact on biofuels

Lula also said that there are no risks accompanying the massive production of ethanol and biodiesel pose to the food...

By using sugar-based ethanol Brazil reduced its CO2 emissions by 800 million tons, he said. 'We're offering the world the certainty that it's possible to create a non-polluting fuel and we can advance to second- and third-generation ethanol,' he added. He insisted that biofuels are the solution to the problem of global warming. Lula also said that there are no...

Detailed info here

Commerce

Petrobras to invest $50 mn in Peru gas project

Drilling and testing will take about four or five months, in other words by the end of October or November.

Petrobras Energia Peru, a unit of Brazilian oil giant Petrobras, plans to invest $50 million to begin drilling an initial natural gas well in Lot 58, which is located in the Cuzco region near the Camisea gas reserve, Peru's largest, executives said. Pedro Grijalba,, general manager of Petrobras Energia Peru, told the official Andina news agency Wednesday that "the idea...

Detailed info here

Other Articles in this channel