TOP NEWS Dear readers, due to staff's traveling assignments for the week, our news and information will not be totally complete as usual

OTC: PDVSA is acquiring for
the first time ever a new jack-up

Jack-up rig


HOUSTON
Petroleumworld.com, May 9, 2008

Venezuela's oil company PDVSA is acquiring for offshore work, a new jack-up rig from Keppel AmFels shipyard in Louisiana for Scorpion Offshore Inc. to work in the Gazprom Urumaco 1 and Urumaco 2 blocks of the Rafael Urdaneta project in the Gulf of Venezuela, a source at the Offshore Technology Conference in Houston said.- story

US calls computer files linking Chavez
to FARC authentic: report

Reuters

Venezuelan President Hugo Chavez (R) and senior rebel
commander Ivan Marquez of the Revolutionary Armed Forces
of Colombia (FARC) walk at Miraflores Palace in Caracas
November 8, 2007.

NEW YORK
Petroleumworld.com, May 9, 2008

US intelligence officials believe seized computer files showing strong ties between Venezuela's President Hugo Chavez and Colombian rebels are authentic, The Wall Street Journal reported Friday.- story

OIL PRICES:

OPEC Basket $116.93 05/08

Venezuelan Basket: $107.60 05/09

05/08 :BRENT IPE $122.84 NYMEX WTI-$123.69

05/09 :US$/VBOF:Parallel BsF 3.30 buy 3.40- sell

For price details click here

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HEADLINES

Oil price jumps above 126 dollars for first time- story

UN halts Myanmar aid over 'unacceptable' restrictions - story

French group Total promises 2 million dollars aid to Myanmar - story

Sugarcane biofuel becomes Brazil's second energy source - story

Oil prices soar to new highs as OPEC says 'no shortage'- story

Venezuela's oil reserves swell to 130 bln barrels - story

Pressure mounts on Zimbabwe amid fresh violence claims - story

Putin becomes PM in leadership 'tandem' - story

StatoilHydro discovers new gas reserves in Norwegian Sea - story

Brazil wants to join OPEC, become major oil exporter: Lula - story

Petrobras to Complete Cacimbas-Catu Pipeline in 2010 - story

Trinidad's Petrotrin says not affected by strike - story

Citgo to run Chalmette refinery - story

China to sign new oil deal with Venezuela - story

Mexico starts talks on cross-border oil, Kessel says - story

Perupetro negotiates with oil and gas companies on new areas - story

Methanex, ENAP in deal to expand Chile gas field- story

Total received from Venezuela's 18,000 b/d of crude oil in part payment for stake on SINCOR project - story

OTC: "There is plenty oil in the world' - Sandrea

Dr. Rafael Sandrea, president of IPC Petroleum Consultants Inc.

HOUSTON
Petroleumworld.com, May 8, 2008- story

World oil prices strike fresh record

SINGAPORE
Petroleumworld.com, May 8, 2008- story

Previous stories

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Weekend
Petroleumworld`s
Opinion Forum:
viewpoints on issues in energy, international politics & civilization.

Saturday
Lagniappe

Memo From Mexico: PEMEX Fritters
Away Mexico’s Oil Wealth

By Allan Wall - story - previous stories

Sunday´s
Opinion

The List: The Next Dictators to Go

Anna Zieminski/AFP/Getty

By FP Magazine - story - previous stories

Sunday's
Feature

Assessing the Impact of Mexico’s Biofuels Law

Editor: P.P.Bhojvaid

Biofuels: towards a greener and secure energy future

By Raul Felix -story - previous stories

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ISSUES... Inside, confidential, off the record Be aware OPEC Vs USD$ A Chinese story A roller-coaster ride Eureka! More... To read all ISSUES... articles click on issues

EDITORIAL

Investors's Business
Daily: Hugo's all-too-
predictable shortages

VeneEconomy: Unperturbed,
he’s walking off with everything

Simon Romero : Ecuador’s Leader purges
military and moves to expel american base

VenEconomy:
Destructive shows
of bravado

PDVSA’S 20-F for 2003
As filed with the
Securities and Exchange
Commission on
October 7, 2005.

THEMES-ANALYSIS