NOVEMBER 4, 2009
From: The Wall Street Journal
Development of Brazil's massive offshore oil discoveries has attracted most of the industry's attention in recent years, but the seemingly forgotten onshore prospects caught the eye of geologist Marcio Mello.
"There's a great movement in Brazil not only offshore but also onshore ... the Amazon and Solimoes basins are open," said Mello, CEO of upstart HRT Oil & Gas.
Mello and several former executives at state-run energy giant Petrobras (PBR) launched HRT Oil & Gas on Wednesday, the second major Brazilian independent oil company to be launched since the offshore discoveries were made in 2007.
OGX Petroleo e Gas Participacoes SA (OGXP3.BR), owned by billionaire entrepreneur Eike Batista, was started in 2007 with 6.7 billion Brazilian reals ($3.59 billion) raised in Brazil's then-largest initial public offering of shares.
"It's always a geologist's dream to start an oil company," Mello said. Mello is also president of HRT Petroleum, an oilfield consultancy. "Everyone always asked me why we didn't start an oil company. I thought if one day the opportunity came and the company could be born big--with enough capital to start--it could happen."
The opportunity came when HRT Petroleum was hired to do analysis work of blocks in the Solimoes Basin by Petra Energia SA and M&S Brasil.
Unlike OGX, which is betting heavily on shallow-water offshore prospects, HRT will focus solely on the relatively virgin territory in the Amazon rainforest.
HRT will hold operator stakes in 21 blocks in the Solimoes Basin in Brazil's Amazonas state. The company signed the arm-in deals to buy a 51% stake in the blocks from Petra Energia and M&S Brasil.
The blocks contain potential reserves of between four billion and six billion barrels of light oil and between 10 trillion and 20 trillion cubic feet of natural gas, Mello said.
"The potential is enormous," Mello said. "Amazonas is going to be the largest producer of natural gas in Brazil."
Mello noted that the area is home to Brazil's largest producing field of light oil, the Urucu field operated by Petrobras. Urucu produces about 47,000 barrels of oil a day.
HRT plans to start drilling by the middle of next year, with between four and six rigs on site by June or July. Operations Director Antonio Agostini said negotiations for the rigs were already under way, with the first two drilling units expected in Brazil by May or June.
"I think we'll produce the first oil before the end of the first year," Mello said.
Mello's bold outlook for the company is backed up by the financial commitment from private investors. HRT will be controlled by holding company HRT Participacoes em Petroleo S/A, funded with $275 million raised in a private placement in the U.S. The operation was coordinated by Bank of Montreal.
Demand was strong enough that the company could have raised a total of between $500 million and $600 million, HRT executives said.
But the company wanted to limit the private placement to $275 million at this early stage, CFO Eduardo Teixeira said. That should be sufficient to fund the company's investment plans for the next two to three years.
"We don't have any interest in raising funds from the market for at least the next two years," Teixeira said.
The company also plans an initial public offering of shares, which Teixeira called "a natural evolution" for oil companies, but not in the near term.
Friday, November 6, 2009
Swine flu hits remote Amazon tribe
Nov. 5, 2009
From: United Press International, Inc
At least 1,000 members of a remote tribe in the Amazon region in Venezuela have been infected with H1N1 flu and seven have died, Survival International says.
The group, an advocate for indigenous peoples around the world, said the presence of the H1N1 influenza virus in the area where the Yanomani live has been confirmed by the World Health Organization. The Venezuelan government has sealed off the area.
About 32,000 Yanomani are believed to live along the border between Venezuela and Brazil in the Amazon rain forest. Because of their isolation, they have little resistance to infectious disease.
Thousands of Yanomani died in the 1980s and 1990s when gold miners brought diseases like influenza and malaria into the region, Survival International said.
Steven Corry, the organization's director, called the situation "critical."
"Both governments must take immediate action to halt the epidemic and radically improve the healthcare to the Yanomani," he said. "If they do not, we could once more see hundreds of Yanomani dying of treatable diseases. This would be utterly devastating for this isolated tribe, whose population has only just recovered from the epidemics which decimated their population 20 years ago."
From: United Press International, Inc
At least 1,000 members of a remote tribe in the Amazon region in Venezuela have been infected with H1N1 flu and seven have died, Survival International says.
The group, an advocate for indigenous peoples around the world, said the presence of the H1N1 influenza virus in the area where the Yanomani live has been confirmed by the World Health Organization. The Venezuelan government has sealed off the area.
About 32,000 Yanomani are believed to live along the border between Venezuela and Brazil in the Amazon rain forest. Because of their isolation, they have little resistance to infectious disease.
Thousands of Yanomani died in the 1980s and 1990s when gold miners brought diseases like influenza and malaria into the region, Survival International said.
Steven Corry, the organization's director, called the situation "critical."
"Both governments must take immediate action to halt the epidemic and radically improve the healthcare to the Yanomani," he said. "If they do not, we could once more see hundreds of Yanomani dying of treatable diseases. This would be utterly devastating for this isolated tribe, whose population has only just recovered from the epidemics which decimated their population 20 years ago."
Researchers hail innovative plan to save rainforest, reduce greenhouse gas emissions
November 5, 2009
From: PhysOrg.com
An innovative proposal by the Ecuadorian government to protect an untouched, oil rich region of Amazon rainforest is a precedent-setting and potentially economically viable approach, says a team of environmental researchers from the University of Maryland, the World Resources Institute and Save America's Forests.
The Ecuadorian proposal, known as the Yasuní-ITT Initiative, would protect a large area of pristine Amazon rainforest, by leaving untouched nearly one billion barrels of oil that lies beneath the Yasuní National Park in Ecuador. Under the initiative, the government would sell certificates linked to the value of the unreleased carbon to provide alternative revenue to that which would come from exploiting the oil reserves.
"This is a really novel approach that could fund a lot of rainforest protection," said Clinton Jenkins, a research scientist in the University of Maryland's department of biology. "It's also an innovative way of dealing with greenhouse gas emissions."
"There has been a lot of talk about engineering ways to reduce or offset greenhouse gas emissions by removing carbon from air and burying, or sequestering, it in the ground. This approach sequesters carbon by preventing oil from ever getting out of the ground," said Jenkins.
Writing about the Yasuní-ITT Initiative in a new article in the scientific journal Biotropica, Jenkins, Matt Finer of Save America's Forests and Remi Moncel with the Climate and Energy Program of the World Resources Institute, say that a number of climate researchers, including NASA scientist James Hansen, have suggested that forgoing extraction of oil and gas reserves in remote or sensitive places could be an important piece to a larger global strategy designed to limit carbon emissions and that this Initiative "is the first real offer to do just that."
"Oil and gas concessions now cover vast swaths of the mega-diverse western Amazon," said Finer, lead author of Biotropica review article. "Ecuador´s revolutionary initiative is the first major government-led effort to buck this disturbing trend."
According to estimates of Ecuadorian officials cited in the article, preventing exploitation of the ITT oil fields, will keep 410 million metric tons of CO2 out of the atmosphere.
The authors note that use of a conservation strategy like that proposed by Ecuador would be particularly beneficial in areas that also offer great ecological value. The Yasuní National Park has such multiple benefits, they say, because it is one of the most biodiverse parts of the Amazon and within the territory of some of the world's last un-contacted indigenous peoples, the Tagaeri and Taromenane.
"Yasuní is an exceptional place in the world, biologically incredible, home to un-contacted peoples, and yet - perhaps tragically - full of oil," said Jenkins. "Society faces a test of what we value more, drilling for more oil, or preserving a cherished national park and the people who call it home."
Skeptics and Advocates
The Ecuadorian proposal has been lauded widely for its three-pronged effort to protect biodiversity, respect indigenous peoples' territory, and combat climate change. However, Jenkins, Finer and Moncel note that the Yasuní-ITT Initiative also has ardent skeptics.
For example, how to pay for the effort is in question. Ecuador, a country highly dependent on oil export revenues, seeks $350 million for each of the next 10 years in alternative revenue. Ecuador's intent is to sell certificates linked to the value of the unreleased carbon. This raises a number of technical questions, however, such as the possibility that the initiative would not result in a net global CO2 reduction if the certificates were traded in carbon markets.
"The best way to minimize the risk associated with the carbon bonds is to encourage supporters to make direct donations," said Remi Moncel of the World Resources Institute. "While less problematic from the point of view of environmental integrity, it is harder to raise money that way."
Germany appears to be a leading supporter of the Yasuní-ITT Initiative. Recent news reports indicate the German government may donate $50 to $70 million annually to the initiative if other countries also agree to provide support for the initiative.
Additional questions tackled in the study include why a national park is on the chopping block in the first place and what mechanisms are needed to prevent future Ecuadorian administrations from drilling the oil fields.
The authors conclude that the Yasuní-ITT Initiative, with its focus on generating alternative revenue, is a potentially precedent-setting advance in avoiding damaging oil and gas development in sensitive areas and an innovative way to address climate change.
"The climate conference of Copenhagen is only weeks away. What Ecuador has proposed is a good example of how each country can come up with home-grown, nationally relevant ideas to promote sustainable development," said Moncel.
From: PhysOrg.com
An innovative proposal by the Ecuadorian government to protect an untouched, oil rich region of Amazon rainforest is a precedent-setting and potentially economically viable approach, says a team of environmental researchers from the University of Maryland, the World Resources Institute and Save America's Forests.
The Ecuadorian proposal, known as the Yasuní-ITT Initiative, would protect a large area of pristine Amazon rainforest, by leaving untouched nearly one billion barrels of oil that lies beneath the Yasuní National Park in Ecuador. Under the initiative, the government would sell certificates linked to the value of the unreleased carbon to provide alternative revenue to that which would come from exploiting the oil reserves.
"This is a really novel approach that could fund a lot of rainforest protection," said Clinton Jenkins, a research scientist in the University of Maryland's department of biology. "It's also an innovative way of dealing with greenhouse gas emissions."
"There has been a lot of talk about engineering ways to reduce or offset greenhouse gas emissions by removing carbon from air and burying, or sequestering, it in the ground. This approach sequesters carbon by preventing oil from ever getting out of the ground," said Jenkins.
Writing about the Yasuní-ITT Initiative in a new article in the scientific journal Biotropica, Jenkins, Matt Finer of Save America's Forests and Remi Moncel with the Climate and Energy Program of the World Resources Institute, say that a number of climate researchers, including NASA scientist James Hansen, have suggested that forgoing extraction of oil and gas reserves in remote or sensitive places could be an important piece to a larger global strategy designed to limit carbon emissions and that this Initiative "is the first real offer to do just that."
"Oil and gas concessions now cover vast swaths of the mega-diverse western Amazon," said Finer, lead author of Biotropica review article. "Ecuador´s revolutionary initiative is the first major government-led effort to buck this disturbing trend."
According to estimates of Ecuadorian officials cited in the article, preventing exploitation of the ITT oil fields, will keep 410 million metric tons of CO2 out of the atmosphere.
The authors note that use of a conservation strategy like that proposed by Ecuador would be particularly beneficial in areas that also offer great ecological value. The Yasuní National Park has such multiple benefits, they say, because it is one of the most biodiverse parts of the Amazon and within the territory of some of the world's last un-contacted indigenous peoples, the Tagaeri and Taromenane.
"Yasuní is an exceptional place in the world, biologically incredible, home to un-contacted peoples, and yet - perhaps tragically - full of oil," said Jenkins. "Society faces a test of what we value more, drilling for more oil, or preserving a cherished national park and the people who call it home."
Skeptics and Advocates
The Ecuadorian proposal has been lauded widely for its three-pronged effort to protect biodiversity, respect indigenous peoples' territory, and combat climate change. However, Jenkins, Finer and Moncel note that the Yasuní-ITT Initiative also has ardent skeptics.
For example, how to pay for the effort is in question. Ecuador, a country highly dependent on oil export revenues, seeks $350 million for each of the next 10 years in alternative revenue. Ecuador's intent is to sell certificates linked to the value of the unreleased carbon. This raises a number of technical questions, however, such as the possibility that the initiative would not result in a net global CO2 reduction if the certificates were traded in carbon markets.
"The best way to minimize the risk associated with the carbon bonds is to encourage supporters to make direct donations," said Remi Moncel of the World Resources Institute. "While less problematic from the point of view of environmental integrity, it is harder to raise money that way."
Germany appears to be a leading supporter of the Yasuní-ITT Initiative. Recent news reports indicate the German government may donate $50 to $70 million annually to the initiative if other countries also agree to provide support for the initiative.
Additional questions tackled in the study include why a national park is on the chopping block in the first place and what mechanisms are needed to prevent future Ecuadorian administrations from drilling the oil fields.
The authors conclude that the Yasuní-ITT Initiative, with its focus on generating alternative revenue, is a potentially precedent-setting advance in avoiding damaging oil and gas development in sensitive areas and an innovative way to address climate change.
"The climate conference of Copenhagen is only weeks away. What Ecuador has proposed is a good example of how each country can come up with home-grown, nationally relevant ideas to promote sustainable development," said Moncel.
Amazon deforestation slows
5th Nov, 2009
From: Cool Earth
The rate of rainforest deforestation in the Amazon has slowed, new figures from the Brazilian government have shown.
According to figures based on satellite imagery taken by the National Space Research Institute, 154 square miles of Amazon rainforest was cleared in September.
This is a third less than the level of deforestation seen in the same month in 2008, said environment minister Carlos Minc.
Deforestation in the Amazon rainforest is mainly caused by the work of those who run cattle ranches - who clear large areas to accommodate their cattle - as well as farmers and loggers.
This causes huge levels of carbon to be released into the atmosphere.
According to figures published by Monga Bay, almost 150,000 square kilometres of Amazon rainforest was lost between May 2000 and August 2006, which the site noted is an area bigger than the land mass of Greece.
Furthermore, since 1970, another 232,000 square miles have been cleared.
From: Cool Earth
The rate of rainforest deforestation in the Amazon has slowed, new figures from the Brazilian government have shown.
According to figures based on satellite imagery taken by the National Space Research Institute, 154 square miles of Amazon rainforest was cleared in September.This is a third less than the level of deforestation seen in the same month in 2008, said environment minister Carlos Minc.
Deforestation in the Amazon rainforest is mainly caused by the work of those who run cattle ranches - who clear large areas to accommodate their cattle - as well as farmers and loggers.
This causes huge levels of carbon to be released into the atmosphere.
According to figures published by Monga Bay, almost 150,000 square kilometres of Amazon rainforest was lost between May 2000 and August 2006, which the site noted is an area bigger than the land mass of Greece.
Furthermore, since 1970, another 232,000 square miles have been cleared.
Thursday, November 5, 2009
Amazon adventurer's coma ordeal
05 November 2009
From: Weston & Somerset Mercury
A WESTON dad who tackled 'the toughest and most dangerous foot race in the world' says he is lucky to have survived his Amazon adventure.
Intrepid Darren Baker, aged 39, was one of a 136-strong international field who took part in a five-day 222km race through untamed South American rainforest.
However, the Jungle Marathon - rated by many as 'the ultimate test of physical endurance and mental strength' - nearly claimed his life, as Darren ended the challenge in a coma.
The Charlton Road resident, now safely back on home soil, told the Mercury: "I wanted a challenge and I wanted adventure.
"To be honest though, I never thought I would be coming home with quite as dramatic a tale as I did. In fact, at one point it was touch and go whether I was coming home at all."
Darren completed months of endurance training, and a pre-race briefing about the deadly jungle critters he might encounter ended with the advice: "Run faster."
But he took to the start line alongside SAS-trained competitors and professional athletes, lugging a two-and-a-half stone backpack and with feet taped up to prevent them rotting in the wet conditions.
He said: "The route ahead included swamps, rivers, and mile upon mile of incredibly steep hills and gorges.
"Whilst at first glance there didn't seem to be much wildlife, as soon as you stopped and looked it was everywhere.
"Every few feet you would cross a line of army or fire ants and I learnt very quickly not to stop in any one place too long - boy, those little guys can hurt!
"On the first day alone, one runner saw a four-metre snake and many of us saw, or at least, heard monkeys, scorpions and spiders.
"'My' spider unfortunately had already sunken its fangs into my wrist before I saw it, but as it was only a small tarantula I knew it wasn't poisonous."
Darren finished the first stage of the race in a more-than-creditable 22nd place after four hours of intense competition - but trouble lay ahead.
He continued: "Some two hours after finishing, was when things started to go wrong. I felt hot and my head began to thump.
"I found the medics but even under their supervision within another hour I continued to get worse and my co-ordination began to go.
"The next thing I remember was the Doctors telling me I was on the boat being raced to hospital. After that I can remember nothing for two days.
"Having talked to the doctors later it would appear that I suffered from severe hyponatraemia which is basically low sodium levels in the blood.
"This, together with water intoxication, put me in a coma for two days and could easily have done much worse. I owe my life to the handful of UK race doctors who looked after me."
In total, some two thirds of the field failed to complete the race, but Darren is undeterred.
He added: "My days of long-distance and adventure racing are definitely not over and I am already planning 2010.
From: Weston & Somerset Mercury
A WESTON dad who tackled 'the toughest and most dangerous foot race in the world' says he is lucky to have survived his Amazon adventure.
Intrepid Darren Baker, aged 39, was one of a 136-strong international field who took part in a five-day 222km race through untamed South American rainforest.
However, the Jungle Marathon - rated by many as 'the ultimate test of physical endurance and mental strength' - nearly claimed his life, as Darren ended the challenge in a coma.
The Charlton Road resident, now safely back on home soil, told the Mercury: "I wanted a challenge and I wanted adventure.
"To be honest though, I never thought I would be coming home with quite as dramatic a tale as I did. In fact, at one point it was touch and go whether I was coming home at all."
Darren completed months of endurance training, and a pre-race briefing about the deadly jungle critters he might encounter ended with the advice: "Run faster."
But he took to the start line alongside SAS-trained competitors and professional athletes, lugging a two-and-a-half stone backpack and with feet taped up to prevent them rotting in the wet conditions.
He said: "The route ahead included swamps, rivers, and mile upon mile of incredibly steep hills and gorges.
"Whilst at first glance there didn't seem to be much wildlife, as soon as you stopped and looked it was everywhere.
"Every few feet you would cross a line of army or fire ants and I learnt very quickly not to stop in any one place too long - boy, those little guys can hurt!
"On the first day alone, one runner saw a four-metre snake and many of us saw, or at least, heard monkeys, scorpions and spiders.
"'My' spider unfortunately had already sunken its fangs into my wrist before I saw it, but as it was only a small tarantula I knew it wasn't poisonous."
Darren finished the first stage of the race in a more-than-creditable 22nd place after four hours of intense competition - but trouble lay ahead.
He continued: "Some two hours after finishing, was when things started to go wrong. I felt hot and my head began to thump.
"I found the medics but even under their supervision within another hour I continued to get worse and my co-ordination began to go.
"The next thing I remember was the Doctors telling me I was on the boat being raced to hospital. After that I can remember nothing for two days.
"Having talked to the doctors later it would appear that I suffered from severe hyponatraemia which is basically low sodium levels in the blood.
"This, together with water intoxication, put me in a coma for two days and could easily have done much worse. I owe my life to the handful of UK race doctors who looked after me."
In total, some two thirds of the field failed to complete the race, but Darren is undeterred.
He added: "My days of long-distance and adventure racing are definitely not over and I am already planning 2010.
Amazon deforestation slows: Brazil
04 November 2009
From: France24
Brazil lost 400 square kilometers (154 square miles) of Amazon jungle in September, but deforestation slowed by a third compared with the same month last year, according to official data released Wednesday.
Environment Minister Carlos Minc said the speed at which the vast Amazon rain forest was being stripped was down 32 percent, based on satellite imagery from the government's National Space Research Institute.
Brazil's government has made the fight against Amazon deforestation a priorities. Much of the fragile woodland is burnt down by ranchers and farmers, releasing into the atmosphere massive amounts of carbon dioxide, a greenhouse gas.
Brazil is expected to present the results of its efforts at a major UN climate change meeting in Denmark next month, which will try to come up with a successor treaty to the Kyoto Protocol.
From: France24
Brazil lost 400 square kilometers (154 square miles) of Amazon jungle in September, but deforestation slowed by a third compared with the same month last year, according to official data released Wednesday.
Environment Minister Carlos Minc said the speed at which the vast Amazon rain forest was being stripped was down 32 percent, based on satellite imagery from the government's National Space Research Institute.
Brazil's government has made the fight against Amazon deforestation a priorities. Much of the fragile woodland is burnt down by ranchers and farmers, releasing into the atmosphere massive amounts of carbon dioxide, a greenhouse gas.
Brazil is expected to present the results of its efforts at a major UN climate change meeting in Denmark next month, which will try to come up with a successor treaty to the Kyoto Protocol.
Isolated AMazon Indians Die of Swine Flu
Thursday, 5 November 2009
From: Scoop.co.nz
Seven Yanomami Indians in Venezuela have died from an outbreak of suspected swine flu in the last two weeks. Another 1,000 Yanomami are reported to have caught the virulent strain of flu.
The Venezuelan government has sealed off the area, and sent in medical teams to treat the Yanomami. The regional office of the World Health Organization has confirmed the presence of swine flu.
There are fears that the epidemic could sweep through the Yanomami territory and kill many more Indians.
The Yanomami are the largest relatively isolated tribe in the Amazon rainforest, with a population of about 32,000 that straddle the Venezuela-Brazil border. Due to this isolation they have very little resistance to introduced diseases such as flu.
In the 1980-90s, when goldminers invaded their land, one fifth of the Yanomami in Brazil died from diseases such as flu and malaria introduced by the miners. Their future was only secured after a major international campaign led by the Yanomami themselves, Survival International and the Pro Yanomami Commission.
Health care is already extremely precarious on both sides of the border. Many Yanomami communities have no access at all to health care and this mountainous, forested region presents many challenges in the provision of emergency medical aid.
The Yanomami territory lies on the border of northern Brazil and southern Venezuela and is the largest indigenous territory in tropical rainforest in the world.
Last month Survival published a report highlighting the special threat that swine flu presents to indigenous people around the world.
Stephen Corry, director of Survival said, ‘The situation is critical. Both governments must take immediate action to halt the epidemic and radically improve the health care to the Yanomami. If they do not, we could once more see hundreds of Yanomami dying of treatable diseases. This would be utterly devastating for this isolated tribe, whose population has only just recovered from the epidemics which decimated their population 20 years ago.’
From: Scoop.co.nz
Seven Yanomami Indians in Venezuela have died from an outbreak of suspected swine flu in the last two weeks. Another 1,000 Yanomami are reported to have caught the virulent strain of flu.
The Venezuelan government has sealed off the area, and sent in medical teams to treat the Yanomami. The regional office of the World Health Organization has confirmed the presence of swine flu.
There are fears that the epidemic could sweep through the Yanomami territory and kill many more Indians.
The Yanomami are the largest relatively isolated tribe in the Amazon rainforest, with a population of about 32,000 that straddle the Venezuela-Brazil border. Due to this isolation they have very little resistance to introduced diseases such as flu.
In the 1980-90s, when goldminers invaded their land, one fifth of the Yanomami in Brazil died from diseases such as flu and malaria introduced by the miners. Their future was only secured after a major international campaign led by the Yanomami themselves, Survival International and the Pro Yanomami Commission.
Health care is already extremely precarious on both sides of the border. Many Yanomami communities have no access at all to health care and this mountainous, forested region presents many challenges in the provision of emergency medical aid.
The Yanomami territory lies on the border of northern Brazil and southern Venezuela and is the largest indigenous territory in tropical rainforest in the world.
Last month Survival published a report highlighting the special threat that swine flu presents to indigenous people around the world.
Stephen Corry, director of Survival said, ‘The situation is critical. Both governments must take immediate action to halt the epidemic and radically improve the health care to the Yanomami. If they do not, we could once more see hundreds of Yanomami dying of treatable diseases. This would be utterly devastating for this isolated tribe, whose population has only just recovered from the epidemics which decimated their population 20 years ago.’
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