Energy & Oil

Energy & Oil
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.

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.

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