Energy & Oil

Energy & Oil
Friday, December 26th 2014 - 06:17 UTC

Exceptional year 2014 for Argentina's YPF

Miguel Galuccio, CEO of YPF

The CEO of the state-owned oil company YPF Miguel Galuccio has assured that 2014 “was an exceptional year” in terms of growth and investment. He pointed out that every goal for the year had been achieved.

Friday, December 26th 2014 - 00:59 UTC

Uruguay's Economy Minister skeptical on ARU study

Economy Minister Mario Bergara finds it hard to bring down inflation.

Consumers could have saved as much as US$ 167 million had fuel been imported directly instead of oil being refined by ANCAP. Mario Bergara deems it to be “overblown”

Monday, December 22nd 2014 - 08:48 UTC

Oil price may slump to US$ 20... or then again maybe not

The price of oil may go up or down, but neither case is likely in just a few weeks

Market analysts describes two possible international scenarios. Whichever one prevails will be decisive. But it is not happenning soon.

Saturday, December 20th 2014 - 06:33 UTC

Power cuts hit Buenos Aires as temperature rises

Shortage of electricity not uncommon in BA as heat strikes

Sweltering heat props up use of air conditioning. 'Specific failures' along the distribution line spark street, social media protests

Thursday, December 18th 2014 - 21:00 UTC

Brazil's trade balance to benefit from oil price drop

Brazil's Central Bank President Alexandre Tombini sees the good part of oil price fall.

Central Bank President Alexandre Tombini sees the bright side of the international trend that is causing many others a headache, because the country is a net petroleum importer.

Thursday, December 18th 2014 - 18:12 UTC

Oil price tumbles after OPEC releases 2015 forecast

For 2014, the EIA expects demand will be about 960,000 barrels per day.

The demand for oil in 2015 will drop to its lowest level since 2002 because of an oversupply of crude and stagnant economies in China and Europe, according to OPEC's latest forecast. And that's just one of several sour estimates.

Wednesday, December 17th 2014 - 12:59 UTC

Uruguay receives IDB credit to boost investment in renewable energies

A common sight in top hills of Uruguay, a display of wind turbines

As part of Uruguay long term plan to promote investment in infrastructure and finance investment in electric power plants using renewable energy resources, essentially wind and solar so as to diversify the country energy mix and cut CO2 emissions, the country will be receiving a 250 million dollar credit line from the Inter American Development Bank, IDB.

Wednesday, December 17th 2014 - 07:27 UTC

YPF money helps Repsol by over Canadian Talisman

Argentina's Economy Minister Axel Kicillof negotiated the expropiation of YPF, which helped Repsol finance the takeover of Canada's Talisman.

The largest international deal by a Spanish company in the last five years, props up shares despite plummetting international oil prices.

Saturday, December 13th 2014 - 04:37 UTC

Brazil confident since pre-salt oil is profitable 'even at 60 dollars a barrel'

“I don't know of any pre-salt project that cannot resist the 70 dollar or even the 60 dollar mark” said Ms Chambriard

The head of Brazil's National Petroleum Agency, Magda Chambriard said that the country's oil production projects remain 'robust' even as international prices for crude continue to tumble. She underlined that the pre-salt projects of Brazil along ist coast resist prices as low as 60 dollars a barrel.

Friday, December 12th 2014 - 21:49 UTC

Dutch oil platform leasing company cutting 11% of global workforce

“Although we regret losing some of our colleagues, we believe these steps are necessary to deliver value to our stakeholders”, CEO Bruno Chabas said

Dutch oil platform leasing company SBM Offshore is cutting 1,200 jobs, or slightly more than 11% of its global workforce, as part of a cost-saving program.

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