Energy & Oil

• Wednesday, July 18th 2012 - 08:18 UTC

  “New” YPF first shareholders’ meeting turns dividends into investment fund

  

  Argentina’s seized oil and gas corporation YPF drastically cut dividend payments and created an investment fund following the first shareholders meeting since the nationalization by President Cristina Fernandez.

• Tuesday, July 17th 2012 - 19:21 UTC

  YPF contracting “outstanding professionals” to develop technology department

  

  Argentina’s nationalized oil and gas corporation YPF announced the incorporation to its staff of two “outstanding professionals” for its technology department, Bernard Gremillet and Gustavo Bianchi, which at some time belonged to the company but had left for personal reasons.

• Tuesday, July 17th 2012 - 04:55 UTC

  Premier Oil Falklands’ deal has full support from Foreign Office and markets

  

  Britain's Premier Oil which reached a 1 billion dollars deal to farm in and develop Rockhopper Exploration oil and gas discoveries in the Falkland Islands took advice from the Foreign Office before closing the deal, according to UK media.

• Tuesday, July 17th 2012 - 04:51 UTC

  Argentina warns UK company over involvement in Falklands’ oil production

  

  Argentina will take legal actions against Britain's Premier Oil after the company agreed to invest 1 billion dollars to help develop an oil field off the disputed Falkland Islands, Argentina's Foreign Ministry said on Monday.

• Monday, July 16th 2012 - 15:09 UTC

  Disappointing results from oil drilling to the south of the Falklands

  

  Borders & Southern Petroleum reported on Monday disappointing results in the Falkland Islands from the latest well to be drilled as part of the controversial search for oil in the South Atlantic islands over which Argentina claims sovereignty.

• Saturday, July 14th 2012 - 00:36 UTC

  Argentine province reviewing BP operating licence in main oil field

  

  Argentina’s Chubut province is reviewing the operating license of BP Plc main oil field in the country and may revoke it, the provincial oil minister said. The review started after operations were interrupted last month for over three weeks during a workers’ protest, Minister Ezequiel Cufre said in an interview in Buenos Aires.

• Friday, July 13th 2012 - 23:46 UTC

  Rousseff pledges to prop the economy but with no EU-style austerity measures

  

  Brazil will not adopt EU-style austerity measures to tackle its economic crisis and will instead cut taxes and maintain social programs, President Dilma Rousseff said on Friday.

• Friday, July 13th 2012 - 06:52 UTC

  The Argentine government moves into the power distribution sector

  

  Argentina's government appointed an “observer” Thursday to oversee business operations at the power distributor Edesur SA, after the company reportedly failed to make a payment to a regulatory company.

• Thursday, July 12th 2012 - 19:36 UTC

  Rockhopper signs a billion dollars deal to develop Falklands’ oil discovery

  

  Britain's Premier Oil announced on Thursday a 1 billion dollars deal to farm in and develop Rockhopper Exploration oil and gas discoveries in the Falkland Islands.

• Thursday, July 12th 2012 - 06:57 UTC

  China cuts retail fuel prices 5%, the third cut in two months

  

  China, the world's second biggest consumer of fuel, has cut retail oil prices by about 5% with immediate effect. This is the third cut in two months, and some analysts say could be an attempt to increase fuel consumption. Demand for oil fell for the first time in three years in April.