Energy & Oil

Energy & Oil
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.

Friday, April 25th 2014 - 06:04 UTC

After a long debate, Argentine Congress approves Repsol/YPF agreement terms

Cristina Fernandez anticipated that with YPF under government control Argentina will be hydrocarbons self-sufficient by 2019

After a 16-hour debate, Argentina's Lower House passed the law to pay Spanish Repsol 5 billion dollars in bonds to compensate for the 2012 seizure of a majority stake in Argentina's energy company YPF.

Monday, April 21st 2014 - 07:19 UTC

Gibraltar blackout on Sunday afternoon as fire breaks out in main power station

Power station where the fire broke out

A fire in the Waterport power station left most of Gibraltar without electricity on Sunday afternoon, reports the Gibraltar Chronicle. Police urged residents in the area to close their windows as thick black smoke billowed from the power station, though no one was injured in the incident.

Monday, April 21st 2014 - 07:13 UTC

Argentine experiment to catch livestock's flatulence and convert it into energy

Each cow can produce 300 liters of methane gas a day

Argentina's National Institute for Agricultural Technology (INTA) has invented a way to convert cow flatulence into usable energy, and it involves putting a plastic backpack on a cow. Livestock are responsible for a remarkable amount of global methane emissions, which are a major cause of global warming.

Wednesday, April 16th 2014 - 10:01 UTC

Ukraine falling to economic warfare and its own missteps

Putin has called for payment of 38 billion from Ukraine, the result of unpaid gas sales

As protests in Ukraine's eastern region turned violent on Sunday leading to the death of a Ukrainian security officer in a shootout with pro-Russian militia, Kiev threatens military action while Moscow flexes its geo-economic warfare muscles.

Saturday, April 12th 2014 - 08:59 UTC

Brazilian police investigation into money laundering includes Petrobras

Petrobras president Graca Foster fully collaborated with the court order

Brazil's Federal police confirmed on Friday that it had orders from a Parana federal judge to raid Petrobras offices in search of documentation related to an alleged major money laundering scheme but it was not necessary because of the collaboration from the country's largest oil and gas corporation officials.

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