Energy & Oil

• Wednesday, October 17th 2018 - 17:56 UTC

  Uruguay's wind energy revolution highlighted in leading yearly report

  

  Uruguay ranks second in the world among eolic-energy producing countries with a 40.1% share and is the only non-European nation in a top position, according to a report by the SEG Ingeniería consultancy firm.

• Friday, October 12th 2018 - 15:11 UTC

  Chile's finance minister defends newest, sharpest increase in fuel price

  

  Chile's Finance Minister Felipe Larraín justified the seventh increase in as many weeks in the price of petrol because the Fuel Price Stabilization Mechanism (Mepco) has subsidized 50 million dollars so far this year.

• Friday, October 12th 2018 - 09:05 UTC

  Chile wants lithium traded on the London Metals Exchange

  

  Chile has called for lithium to be traded on the London Metals Exchange to provide greater “clarity” about its value, mining minister Baldo Prokurica said. At present, lithium producers negotiate contracts with buyers but the terms of the deals are not made public. Critics say this lack of clarity has a chilling effect on potential new investment in the market since the metal’s value cannot be precisely measured.

• Wednesday, October 10th 2018 - 17:04 UTC

  Oil Price Rally Boosts Electric Car Sales

  

  Tesla's competition is about to get more crowded next year with many legacy automakers and luxury brands launching a record number of battery electric vehicles and plug-in hybrids.

• Saturday, October 6th 2018 - 09:10 UTC

  Peso devaluation to affect Argentine households retroactively

  

  Argentina's government Friday allowed home gas suppliers to charge extra as of January 2019 to make up for the recent devaluation of the peso against the US dollar.

• Friday, October 5th 2018 - 06:41 UTC

  Falklands' offshore license relinquished by Noble Energy and Edison

  

  Oil companies Noble Energy and Edison have decided to relinquish their stakes in the PL001 offshore license in the Falkland Islands according to Offshore Energy Today. Argos Resources had held a 100% in the PL001 block before the two companies’ farm-in back in 2015. Argos’ shares fell 30% following the announcement.

• Friday, October 5th 2018 - 03:22 UTC

  Emir of Qatar in Bs.Aires to meet with Macri over Vaca Muerta

  

  The emir of Qatar, Sheikh Tamim Bin Hamad Al Thani, arrived Thursday evening in Argentina to meet with President Mauricio Macri on Friday to discuss oil investments in Vaca Muerta and other bilateral issues.

• Thursday, October 4th 2018 - 18:16 UTC

  Argentina makes solar heaters available in 25 zero-interest payments

  

  As a part of Argentina's Energy Saving Program, the Banco de la Nacion Argentina announced a plan of 25 zero-interest payments to purchase solar water heaters through specific participating credit cards for home use.

• Thursday, October 4th 2018 - 07:20 UTC

  Four FPSO planned for the Falklands by 2025, according to oil industry reports

  

  The latest report from Global Data, FPSO Industry Outlook, suggests that a total of 74 planned and announced floating production, storage, and offloading units (FPSOs) are expected to start operations globally by 2025. Globally, South America leads with 32 planned and announced FPSO additions by 2025, including four in the Falkland Islands, followed by Africa and Europe with 17 and seven FPSOs, respectively.

• Thursday, October 4th 2018 - 07:04 UTC

  Oil hits new high ahead of US sanctions on Iran supply, and despite Russia and Saudi higher production

  

  Brent crude rose nearly 2% after hitting a four-year high on Wednesday as the market focused on upcoming U.S. sanctions on Iran while shrugging off the year’s largest weekly build in U.S. crude stockpiles and reports of higher Saudi Arabian and Russian production.