ADVFN - Advanced Financial Network.
HOME» NYSE » E » ENP Stock Price » ENP Stock News

Encore Energy Ptn Share News

 Encore Energy Ptn Stock Price
ENP Stock Price
 Encore Energy Ptn Stock Chart
ENP Stock Chart
 Encore Energy Ptn Stock News
ENP Stock News
 Encore Energy Ptn Company Information
ENP Company Information
 Encore Energy Ptn Stock Trades
ENP Stock Trades

Chile's ENAP To Abandon Geothermal Exploration, Development

DOW JONES NEWSWIRES SANTIAGO -(Dow Jones)- Chilean state oil and natural-gas company Empresa Nacional del Petroleo SA, or Enap, has decided to abandon geothermal energy exploration and development in order to concentrate on its core business. Enap, which supplies about 80% of Chile's fuel needs and exports refined products to Peru, Ecuador and Central America, will look to focus on refining, exploration and production of natural gas and oil. "For Enap, this is the culmination of a long process that began in 2000. Our objective was to contribute to the diversification of the nation's energy matrix, by helping to develop geothermal energy development," Enap Chief Executive Rodrigo Azocar said in a statement. Enap now needs to "focus on its core business," said Azocar. On Friday, Enap sold its 40% stake in a joint-venture geothermal-exploration company to Origin Energy Ltd. (ORG.AU). The joint venture is 60% owned by Antofagasta Minerals SA (ANTO.LN). Enap will also sell its participation in the Apacheta geothermal project in northern Chile, which it is developing with the local unit of Italian power utility Enel SpA (ENEL.MI), a person close to the matter said. Apacheta is Chile's most-advanced geothermal project. "We're convinced that Enap's participation in developing geothermal energy in Chile through its joint-venture projects with Enel and Antofagasta Minerals has been key for the development of this type of renewable energy source," Azocar said. In recent years, the government's participation, through Enap and state copper-mining company Corporacion Nacional del Cobre, or Codelco, was key in developing liquefied natural gas. The Andean nation has two regasification terminals, GNL Quintero in central Chile and GNL Mejillones in the north. -By Anthony Esposito, Dow Jones Newswires; 56-2-715-8929;

Stock News for Encore Energy Ptn (ENP)
06/06/201318:08:15Oman Oil to Enter Chile Gas Market in Partnership with Enagas
11/30/201218:02:36Chile Enap Reaches Agreement with BG Over Gas Supply Contract
11/12/201216:55:11Chile Enap, Endesa at Loggerheads with BG Over Gas Supply Contract
09/13/201215:36:35Correction on Story About Enagas Acquisition
09/13/201215:14:06Enagas Acquires 20% Stake in GNL Quintero From BG for $176 Million
06/01/201214:38:05Chile's ENAP Recovers Revoked Argentine Concession
04/17/201212:56:13Chile Finance Minister: Argentine Expropriation Won't Hurt Confidence...
04/17/201210:51:53Chile's Enap Argentine Operations Valued At $300 Million - Report
02/24/201208:36:11BG Group Considers Cutting Stake In Chilean Quintero LNG Plant
11/15/201108:00:15Chile GasAtacama Plans Offshore LNG Regasification Terminal...
11/10/201108:28:39Chile's Colbun Studying Developing LNG Gas Regasification Plant
11/07/201108:08:49Chile's Quintero LNG Plant To Increase Capacity 50% -Report
08/03/201113:04:10BG Group Ships 1 Million Barrels Of Crude From Brazil To Chile's...
05/09/201110:46:27Chile's ENAP To Abandon Geothermal Exploration, Development
01/28/201115:29:22Chile's Enap, Partners Team Up To Bid For Shell's Local Unit
11/24/201013:53:32Enel, Escondida, Colbun Bid For Chile Geothermal Concessions
11/23/201019:36:08Ecuador Signs New Oil Contracts; Some Companies To Leave
11/17/201009:31:37Vanguard To Buy Denbury's Stake In Encore Energy For $380 Million
08/19/201016:23:52Chile's GNL Quintero Hits Milestone, Matches Prior Gas Imports
05/19/201015:36:13Energy Minister: Enap Eyeing Terpel's Chilean Assets -Report

Encore Energy Ptn and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations