Energy & Oil

Energy & Oil
Friday, May 16th 2014 - 09:37 UTC

YPF wants to create a G10 of Latin American state oil companies CEO's

“Energy is power” and the region has plenty of energy, said Galuccio

Argentina's YPF CEO Miguel Galuccio proposed on Thursday in Bolivia a G10 of Latin American state owned oil corporations to strengthen their bargaining power based on their resources and development synergy.

Friday, May 16th 2014 - 09:25 UTC

YPF defends Chevron partnership; court orders investigation into accord with the US oil giant

According to the ruling, Cristina Fernandez committed “abuse of authority, breach of public duty and potential environmental damage”

Argentine state-controlled oil company YPF on Thursday defended the partnership deal it reached with one of the world's largest energy corporations, Chevron Corp., two days after a court ordered a probe into alleged irregularities associated with the pact.

Thursday, May 15th 2014 - 00:31 UTC

Falklands drilling will resume in second quarter of 2015, announced Premier Oil

“A rig contract and an associated rig sharing agreement is expected to be signed shortly”, announced Premier.

Exploration drilling in the waters off the Falkland Islands will resume in the second quarter of next year, according to Premier Oil. Negotiations are currently underway with rig contractors and joint venture partners, the company said in its interim management statement which was approved as the annual general meeting.

Friday, May 9th 2014 - 07:01 UTC

Repsol/YPF 'marriage' definitively over; Spanish company ends 15-year presence in Argentina

Minister Kicillof (L) signed the deal with representatives from Repsol

Spanish oil major Repsol signed a definitive settlement agreement Thursday with Argentine President Cristina Fernandez's administration, which transferred more than 5 billion dollars in bonds as compensation for the 2012 seizure of Repsol's controlling stake in energy firm YPF.

Thursday, May 8th 2014 - 04:57 UTC

Repsol sells YPF stake for 1.25bn dollars to Morgan Stanley; keeps 0.5% share

A 'strategic' decision said Repsol that recently settled the seizure of YPF with the Argentine government

Spain's Repsol oil and gas company says it has sold an 11.86% stake it owned in Argentina's YPF energy company to Morgan Stanley for 900 million Euros (1.25 billion dollars), effectively leaving it without a stake in a company it once controlled.

Tuesday, May 6th 2014 - 22:52 UTC

Why hasn't the U.S. gone after Gazprom?

Russia supplies one third of the gas consumed by the European Union

By John C.K. Daly - Amidst the deepening war of words over Moscow's annexation of Crimea, U.S. President Barack Obama on April 28 added more Russian individuals and companies to a sanctions list that already included influential members of Russian President Vladimir Putin's inner circle and Bank Rossiya, which has close ties to the Russian leadership.

Tuesday, May 6th 2014 - 07:44 UTC

Time to end “war on drugs” and the “one-size-fits-all approach” says academic report

Global efforts to thwart the drugs trade have failed and the time has come for a radical rethink, according to a group of Nobel-prize winning economists, a former US secretary of state, the deputy prime minister of Britain and others.

Tuesday, May 6th 2014 - 06:46 UTC

Drought in Brazil hits hydropower and energy rationing is increasingly likely

In Brazil an estimated 70% of the country's energy is generated with water

With less than 40 days remaining before the country takes center stage as host of the 2014 FIFA World Cup, Brazilian hydropower power operators are facing a severe drought that makes energy rationing an increasing likelihood.

Friday, May 2nd 2014 - 09:51 UTC

Petrobras concessions in Argentine Patagonia extended for ten years

The company plans to invest 819 million dollars in exploration and production

The Argentine unit of Brazilian state-controlled oil giant Petrobras has signed an agreement with the Patagonian province of Rio Negro that extends its three concessions in that region for 10 years. The new deal was inked after the company renegotiated its contractual conditions with the provincial government.

Monday, April 28th 2014 - 07:39 UTC

Putin is losing Eastern European energy gamble

“Can they stop buying Russian gas?” “In my opinion it is impossible”, said the Russian president

Russian President Vladimir Putin said he doesn't think the European community can do without the natural gas it gets from energy monopoly Gazprom. With a Russian economy starting to decline, however, it may be Gazprom that's too strongly interconnected to the European market to break free.

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