Energy & OilEnergy & Oil
President Cristina Fernandez has questioned accusations against Economy Minister Axel Kicillof over his alleged YPF monthly salary of 400.000 Argentine Pesos (approx 35.000 dollars).
Exxon Mobil Corp has discovered oil off the coast of Guyana, the company and the South American nation's government said on Thursday, potentially inflaming a long-running territorial dispute with neighboring Venezuela.
Saudi Arabia continues to ratchet up production, taking market share away from U.S. shale producers. According to OPEC's latest monthly oil report, Saudi Arabia boosted its oil output to 10.31 million barrels per day in April, a slight increase over the previous month's total of 10.29 million barrels.
Premier Oil, currently involved in successful exploratory drilling in the Falkland Islands, produced less oil and gas in the first quarter of the year, but its output of 60,200 barrels of oil equivalent per day (boepd) was above guidance, sending its shares higher on Wednesday.
The Inter-American Development Bank (IDB) continues to support the expansion of renewable energy in Uruguay through two financial packages, totaling 216 million dollars, which were approved for the private sector to finance part of the construction of the Colonia Airas and Valentines wind farms and their related works.
Brazil's state oil giant Petrobras remains Latin America's top company in revenues, but has lost its position as the profit leader after posting record losses last year due to a growing corruption scandal and administrative inefficiencies, according to a new ranking of the region's 500 largest companies from digital publication Latinvex.
Energy company Rockhopper Exploration and Falkland Oil and Gas Ltd., have announced that drilling operations at Isobel Deep well have recommenced. Isobel Deep is located in the North Falklands basin and is part of the current round of drilling in Falklands' waters.
President Barack Obama's administration on Monday approved petroleum giant Shell's request to begin drilling for oil and gas in the Arctic Sea under certain conditions, despite opposition from environmental groups.
Employers in the US created 223,000 new jobs in April, a much larger increase than the month before. At the same time, the US Department of Labor said the unemployment rate dropped to a seven-year low of 5.4%, down from 5.5% in March.
When oil prices recover-and plenty of analysts think the climb back up will start soon-Canada's western frontier of Saskatchewan and neighboring Alberta will 'still have the edge'', according to a report from TD Economics. Depressed oil prices may have skewed the view from Canada's oil-producing west, but this will be one of the better places to bet on the oil rebound.