President Michel Temer of Brazil is to meet his Russian counterpart Vladimir Putin during his Moscow stop this coming week. Among the items to be discussed is the purchase of air defense missile systems. There will also be talks with Russian investors to discuss energy matters.23 comments
Germany's energy utilities look set to receive refunds of billions of euros after the government's tax on their use of nuclear fuel rods was declared illegal by the country's top court. Between 2011 and 2016, nuclear power operators made payments of more than 6bn euros to the government. The Constitutional Court has ruled the tax was unconstitutional and void.
Argentina formally inaugurated the Vega Pleyade gas and condensate deposit off the coast of Tierra del Fuego considered the most austral of its kind in the world, and which has been supplying the country with nine million cubic meters daily since February 2016. The well is operated by French Total (37.5%) together with Wintershall Energy (37.5%) and Panamerican South (25%), demanded an investment of 1.1bn dollars over three years.
Falklands' Acting Governor Alex Mitham looks back on the past year of activity for the Falkland Islands Government. The ceremony took place on Tuesday morning at the Court and Assembly Chambers during the Budget meeting of the Legislative Assembly
A record amount of solar power was generated on Friday as Britain basked in sunshine and temperatures of up to 28C, the National Grid has said. A total 8.7 gigawatts (GW) had been generated at lunchtime, representing 24.3% of total generation across the UK, beating the previous record of 8.48GW set on 10 May.
As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil's immediate future. As Saudi Arabia announces plans to slash production and move their economy away from oil dependency, many industry insiders are predicting that the now over-saturated market will reach an equilibrium with higher commodity prices by 2018 and U.S. shale production will continue to grow along with global demand.
Argentina's oil corporation YPF plans to match United States costs in developing non conventional energy, by the end of 2018. This refers to the very rich shale deposits of Vaca Muerta, with a target of 10 dollars per barrel and for this purpose it has started a program of experimental drillings.
Brazilian state-controlled oil company Petrobras reported its largest quarterly earnings in two years as crude prices rose and the government allowed it to sell fuel at a profit in the domestic market. Petrobras posted a 4.5 billion reais net profit (US$ 1.4bn) in the January to March period, reversing a 1.25 billion reais loss (US$ 400 million) in the first three months of 2016.
Argentina's state-run oil firm YPF expects a 3% decline in crude and natural gas output this year due to labor problems and bad weather, Chief Financial Officer Daniel Gonzalez told investors during a conference call in Buenos Aires.
Argentina and China will sign next 17 May in Beijing a contract for the construction of two new nuclear powered plants, with an investment of US$ 12.5 billion, according to Argentina's Nuclear energy deputy secretary, Julian Gadano.