MercoPress

Spain no longer discusses Argentina’s ‘sovereign decision to seek energy sector control”

Wed, 15 May 2013 07:29:00 GMT

Spain’s Foreign Affairs Minister José Manuel García Margallo said the Spanish government is no longer “discussing” Argentina’s “sovereign decision to seek energy sectors’ control.” “It could seem to me a mistake, but it is the responsibility” of the Argentine government, García Margallo stated.

Repsol first quarter profits jumped 38% on the year mainly on higher production

Fri, 10 May 2013 06:10:00 GMT

Spains’s Repsol SA said on Thursday its first-quarter profit jumped 38% on the year, mainly due to higher production and refining margins.

YPF admits ‘inflation in Argentina is a problem” and could be higher by next year

Thu, 02 May 2013 07:06:00 GMT

Argentine nationalized energy company YPF warned on Tuesday that inflation in the country may keep rising and affect its results, a rare admission considering the company is controlled by a government known for playing down the problem.

Fire in Argentina knocks out main refinery and imports of gasoline and diesel trebled

Thu, 02 May 2013 06:33:00 GMT

Almost four million barrels of diesel and gasoline were shipped from Europe and the US to Argentina where a recent major fire in the country’s main refinery significantly diminished the supply of refined produce. The situation could extend for another two years, according to private estimates from the oil industry.

A year on YPF’s seizure, Argentina’s energy challenge remains equally strong

Wed, 17 Apr 2013 07:47:00 GMT

Argentina’s President Cristina Fernández takeover of YPF to pare energy imports is backfiring and threatening to narrow the country’s trade surplus needed to pay debt, according to a report from Bloomberg.

YPF forced to import more fuel following fire in La Plata refinery

Thu, 11 Apr 2013 00:39:00 GMT

Argentina’s state oil and gas company YPF CEO Miguel Galuccio announced that fuel production could drop 7% because of a fire at its refinery in La Plata. A return to full operations at the 180.000 bpd facility is expected in 30-45 days time.

Petrobras calls for clear rules to foster investment in shale production development

Wed, 10 Apr 2013 07:33:00 GMT

Brazil’s oil and gas Petrobras said Argentina needs clear rules to foster investments if it wants to develop its unconventional oil and gas resources.

YPF and US based DOW sign memorandum to develop shale gas in Patagonia

Wed, 27 Mar 2013 07:53:00 GMT

Argentina’s nationalized energy company YPF on Tuesday signed a memorandum of understanding with the local subsidiary of the US Dow Chemical to develop the shale gas deposits in the southern Nequen province.

Argentina should be self-sufficient in energy in five/six years says YPF

Mon, 18 Mar 2013 21:13:00 GMT

Argentina’s energy self-sufficiency can be expected in five to six years said Miguel Galuccio, CEO of YPF, the oil and gas corporation which was nationalized a year ago when the government of President Cristina Fernandez seized a 51% majority from Spain’s Repsol.

Singapore wealth fund boosts Spain’s Repsol, recovering from YPF nationalization

Tue, 05 Mar 2013 17:00:00 GMT

Singapore wealth fund Temasak has bought a 5% stake in Spanish oil group Repsol for just over one billion Euros, raising its total stake in the company to 6.3%, Repsol said in a release. The operation involves the entire portfolio of Repsol treasury stock at 16.01 Euros per share for a total of 1.036 billion Euros (1.35bn dollars).