Energy & Oil

Energy & Oil
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.

Saturday, April 12th 2014 - 08:45 UTC

Oil race fuels new Falklands chapter

”The war completely changed the Falklands from an economic perspective,” said Mike Summers

The following article from the Sydney Morning Herald was written by Chris Zappone, who recently visited the Falkland Islands as a guest of the local government and the Foreign Office.The Falkland Islands are not an easy place to reach. Flights come only weekly. Cruise ships making the trip brave frigid seas, freezing nights and recently, harassment from Argentine dockworkers.

Friday, April 11th 2014 - 08:19 UTC

Chevron and YPF unveil plans to invest another 1.6bn in Vaca Muerta shale

The second phase of exploration calls for drilling 1,500 wells across 395 square kilometers

US oil giant Chevron and state-controlled YPF unveiled plans Thursday to spend another 1.6 billion dollars to develop Argentina's Vaca Muerta shale formation for oil and gas projects. The investment comes on top of 1.2 billion Chevron agreed to spend last year for a shale pilot project.

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