Energy & Oil
Energy & OilFire in Argentina knocks out main refinery and imports of gasoline and diesel trebled
Almost four million barrels of diesel and gasoline were shipped from Europe and the US to Argentina where a recent major fire in the country’s main refinery significantly diminished the supply of refined produce. The situation could extend for another two years, according to private estimates from the oil industry.
Argentina natural gas imports in March soar 74% compared to a year ago
Argentina's natural gas imports rose 74% to 28.4 million cubic meters/d in March, compared with 16.3 million cu m/d in the year-earlier period, the country’s Energy Secretariat said Monday. Imports were up 16% compared with 24.5 million cu m/d in February, according to a monthly data report.
Petrobras continues divestment program: sells blocks in US Gulf of Mexico
Brazil’s Petrobras is selling its 20% stake in the Gila prospect in the US Gulf of Mexico as part of its ongoing divestment program. The state-owned company said it had signed a sale and purchase agreement for the sale of its equity in exploration blocks KC 49, 50, 92, 93, 94 and 138, which make up the BP-operated asset.
UK Ministry of Defence deems wind towers a national security threat
By John C.K. Daly of Oilprice.com - Twenty-plus years on, the collapse of the USSR in 1991 threatened massive Western defence budgets, bereft of a major enemy like the “Evil Empire.”
Argentina industrial production down in March and in first quarter compared to 2012
Argentina’s industrial output registered a 0.3% drop in March year-on-year, according to Indec the official statistics bureau. The report stated that the manufacturing activity climbed 1.5% compared to February and dropped 0.4% annually in the first three months.
Maduro declares electricity ‘emergency’ and calls the Army in support
President Nicolas Maduro's government declared a 90-day “emergency” in Venezuela's electricity sector this week to speed up infrastructure work and equipment imports needed to prevent politically-contentious power cuts.
China to overtake US as main oil importer by 2014 says OPEC
China is on course to overtake the US as the world’s top crude importer by 2014, as the Asian country’s growing refining capacity boosts demand and America’s fracking boom cuts the need for foreign oil, OPEC said in its monthly report.
Falkland Island's booming economy: request to develop two 200-bed accommodations
In anticipation of the business opportunities the oil industry will bring to the Falkland Islands, a leading company has plans to build in the capital Stanley two temporary 200-bed accommodations, according to the planning applications received.
Brazil to the rescue of the sugar-ethanol industry with lower taxes and soft credit
The Brazilian government has come to the rescue of the sugar-ethanol industry announcing that as of next May first the mandatory content of ethanol in gasoline will increase from 20% to 25%, taxes on the sugar-cane fuel will be eliminated and there will be soft loans to keep expansion going.
Brazil planning a 10% tax on revenue from nuclear power operations
Brazil’s electricity producing nuclear plants, under the umbrella of Eletronuclear may face a 10% tax on revenue from its nuclear power operations as the country prepares to expand arrangements that target profits from oil and gas and its distribution among local governments.
