Energy & Oil

• Friday, August 19th 2016 - 12:59 UTC

  Argentina's Supreme Court rules gas rate increases must be rolled back

  

  Argentina's Supreme Court on Thursday blocked President Mauricio Macri's move to slash natural gas subsidies, a much-hated policy that has sent customers' bills soaring. The ruling is the hardest blow yet to the business-friendly president's move to eliminate electricity, gas and water subsidies which he says are bloating the deficit and sapping the struggling economy.

• Tuesday, August 16th 2016 - 06:56 UTC

  Argentina reaches agreement with oil companies for temporary freeze of fuel prices

  

  Argentina's government and leading oil companies hammered out a plan to gradually trim artificially high wellhead crude prices over the next three months in exchange for a temporary freeze on retail fuel prices.

• Monday, August 15th 2016 - 07:28 UTC

  Argentina's economy: a battle over utility bills is president Macri’s first big crisis

  

  The following article from The Economist points out that the Argentine Supreme Court in the next ten days has to decide on tariff rises for gas and electricity blocked by lower courts. And president Macri cannot afford to lose sine the price increases are a vital part of his plan to restore confidence in an economy undermined by years of reckless spending.

• Friday, August 12th 2016 - 07:08 UTC

  Petrobras Q2 profit tumbles by a third; massive debt condition performance

  

  Brazil's Petrobras reported second-quarter profit that fell by nearly a third from a year earlier, missing expectations as oil prices fell and it took charges for layoffs and the impairment of a refinery. Petrobras said net income fell 30% to 370 million Reais (US$118 million) in the three months ended June 30 compared with a profit of 531 million Reais a year earlier.

• Thursday, August 11th 2016 - 17:53 UTC

  Falklands discards air links with Argentina and iterates London pledge to support hydrocarbons development

  

  The Falkland Islands government has made a public statement pointing out that the UK Government has been open and transparent with FIG about how it would like to improve the bilateral relationship with Argentina but ”has made it clear that this will not include negotiations on the sovereignty of the Falkland Islands.”

• Tuesday, August 2nd 2016 - 06:07 UTC

  China's leading role in Argentina reviewed and confirmed by Macri

  

  China’s role in Argentina’s foreign relations will be more balanced than during the Kirchner administrations, with a larger role played instead by the United States and European countries, the country’s ambassador to Beijing Diego Guelar said, claiming Chinese investment will have to be more competitive.

• Wednesday, July 27th 2016 - 15:14 UTC

  Argentina and Brazil celebrate 25th anniversary of accord which buried nuclear rivalry

  

  Argentina and Brazil commemorated on 18 July the 25th anniversary of the creation of the Brazilian-Argentine Agency for Accounting and Control of Nuclear Material, ABACC, which was the result of the nuclear energy exclusive peaceful use accord, signed by then presidents Carlos Menem and Fernando Collor, in Guadalajara, Mexico.

• Tuesday, July 26th 2016 - 21:54 UTC

  Petrobras announces plans to sell voting control of its distribution network

  

  Petrobras announced it plans to sell voting control of Petrobras Distribuidora SA after a bidding round for a minority stake in the fuels retailer failed to attract bids that met the state-controlled oil company's needs.

• Tuesday, July 19th 2016 - 05:40 UTC

  CEO denies plan to privatize Petrobras: 'Brazilian society not mature enough to discuss the issue'

  

  The Brazilian government has no plans to privatize state-run oil company Petrobras and is still deciding whether to sell its controlling share in several units to shore up its finances, the company's Chief Executive Officer Pedro Parente said in an interview with a local newspaper published on Monday.

• Friday, July 15th 2016 - 06:35 UTC

  Oil company pledges US$ 1.4bn in investments in Argentine Patagonia

  

  Pan American Energy PAE, announced on Thursday investments of 1.4bn dollars in exploration and exploitation of conventional and non conventional hydrocarbons in the Argentine Patagonia provinces of Neuquen, Chubut and Tierra del Fuego.