Friday, February 7th 2014 - 06:52 UTC

Falklands oil industry: Premier ratifies its commitment to develop Sea Lion

Premier's Falkland Islands director Neil Hawkings expects engineering estimates for the fourth quarter of the year

Britain's Premier Oil said it was seeking a partner for an oil development in the Falkland Islands in order to reduce its exposure to the 5.2 billion dollar project and make higher payouts to shareholders.

Thursday, February 6th 2014 - 05:22 UTC

BP warns of 'big uncertainties' over possibility of Scotland becoming independent

However CEO Dudley emphasized the firm was continuing to invest in Scotland

Oil giant BP boss Bob Dudley has warned there are “big uncertainties” for the company over the possibility of Scotland becoming independent. Mr Dudley told the BBC the “question mark” over which currency Scotland might adopt if there was a 'yes' vote in September's referendum was “a concern”.

Thursday, February 6th 2014 - 01:00 UTC

Panama Canal expansion halted; Spanish consortia says a 'final offer' has been made

PCA administrator Jorge Quijano claimed the Spanish consortium had ceased all activities

A dispute over a 1.6 billion dollar cost overrun in the Panama Canal's expansion took a new twist Wednesday after a Spanish company leading the project denied it halted work over the spat.

Wednesday, February 5th 2014 - 22:59 UTC

US, the world's largest producer of oil approves licenses to export crude to Europe

According to Reuters BIS authorized licenses to the UK and Italy and another for Germany is in the pipeline

The United States government has approved at least four licenses to export crude oil to Europe, for the first time in years, showing how companies are breaking through the limits of the export ban established in the 1970s, according to Reuters which learned about the fact from a Freedom of Information Act request.

Wednesday, February 5th 2014 - 08:21 UTC

Falklands' oil industry developer Premier CEO steps down

Simon Lockett will help find a successor

Shares in UK's Premier Oil, which has interests in developing Falkland Islands oil, soared almost 9% on Tuesday despite news that its chief executive is to step down after nine years at the helm. Simon Lockett will leave his position and the board of Premier once a successor has been appointed.

Tuesday, February 4th 2014 - 08:47 UTC

YPF buys a Petrobras Neuquén/Mendoza block with production of 10.000bpd

YPF CEO Miguel Galuccio has the task of cutting Argentina's energy import bill

Argentina oil company YPF has bought out Brazil player Petrobras to take over full ownership of an exploration block in Neuquen and Mendoza provinces. YPF agreed to pay 40.7 million dollars for Petrobras' operatorship and 38.45% stake in the Puesto Hernandez block, cutting short a joint venture due to expire in 2016, according to the Argentina explorer.

Thursday, January 30th 2014 - 06:46 UTC

Argentina's YPF wooing Malaysia Petronas to develop shale deposits

CEO Galuccio is in Kuala Lumpur to meet Petronas chief

Argentina oil company YPF is courting Malaysia's Petronas as a possible partner to develop the promising Vaca Muerta shale, according to reports. YPF chief executive Miguel Galuccio was in Kuala Lumpur for a meeting on Wednesday with Petronas leader Tan Sri Dato Shamsul Azhar Abbas, the La Nacion newspaper reported.

Wednesday, January 29th 2014 - 21:36 UTC

Hedge fund boss Singer rejects as 'bizarre' Argentine bondholders offer

Singer insists in negotiating directly with Argentina and described the offer as a 'stunt'

Paul Singer, head of Elliot Management Corp., defined as “bizarre”, the bondholders’ offer to resolve judicially the dispute with Argentina over the debt in default from 2001, during in a letter sent to investors and published by Bloomberg News.

Tuesday, January 28th 2014 - 04:36 UTC

Cristina Fernandez has lunch with Fidel Castro and blasts banks' “speculative practices”

 The meeting of Argentine president with Fidel Castro.

Argentine President Cristina Fernández used her personal Twitter account to blast figures in the banking and financial industries, which according to the head of state used speculative practices to send Argentina into default in 2001.

Monday, January 27th 2014 - 19:26 UTC

Coca Cola CEO warns youth unemployment is a great risk for social peace

Kent was addressing the World Economic Forum in Davos

Unemployment among teens and young adults represents a huge global problem, says Muhtar Kent, CEO of Coca-Cola. In the United States, teenage unemployment totaled 20.2 percent in December and if the situation isn't addressed, the results could be devastating, the social peace and fabric of the world is in danger.


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