Energy & Oil

• Monday, October 28th 2013 - 20:30 UTC

  Cartes and Rousseff to open vital supply power line for Paraguay's capital built with Mercosur funds

  

  Brazilian president Dilma Rousseff will inaugurate on Tuesday in Paraguay next to his peer Horacio Cartes a high voltage transmission line from the world's largest operational hydroelectric dam Itaipú to metropolitan Asuncion, capital of the landlocked country and which was financed with Mercosur funds.

• Saturday, October 26th 2013 - 00:39 UTC

  Cartes pledges motivation and support for those who help create wealth and jobs

  

  President Horacio Cartes said on Friday he wanted “a reliable and serious Paraguay, full of self esteem” taking advantage of the good economic times and pledged motivation and support for all those who help generate wealth and jobs for the country. However he also admitted that Paraguay has serious failings, “but problems are challenges and opportunities”.

• Friday, October 25th 2013 - 06:16 UTC

  Alleged 'secret clause' in YPF/Chevron shale agreement triggers strong controversy in Argentina

  

  A New York Times piece published on Thursday regarding the agreement between Argentine nationalized oil and gas company YPF with California based Chevron has triggered a strong controversy in Argentina because of an alleged “secret clause” in the commercial document.

• Thursday, October 24th 2013 - 07:44 UTC

  Falklands' oil companies FOGL and Desire merger should be finished by 19 December

  

  Falkland Oil and Gas Ltd updated investors on its proposed merger with Desire Petroleum (DES) Wednesday lunchtime, signaling the combination should be finished by 19 December.

• Thursday, October 24th 2013 - 07:36 UTC

  Consortium led by Total to invest 1.2bn offshore Tierra del Fuego for natural gas

  

  France's Total will lead a 1.2 billion dollars project to produce natural gas off the coast of Tierra del Fuego in the extreme south Argentina. In partnership with Wintershall AG and Pan American Energy LLC, they will drill as deep as 5.5 kilometers in the Vega Pleyade field, according to Javier Rielo who heads the project.

• Thursday, October 24th 2013 - 07:25 UTC

  Former Ecuadorean judge admits taking bribes in pollution case against Chevron

  

  A former Ecuadorean judge who presided over a pollution case against Chevron Corp. (CVX) testified that he and a colleague who issued a 19 billion judgment against the company in the environmental lawsuit were bribed.

• Wednesday, October 23rd 2013 - 21:21 UTC

  Petrobras with sufficient funds to operate Libra; denies need of fuels price increase

  

  Petrobras has sufficient funds on hand to pay its share of a hefty Brazilian government fee for operations at the Libra offshore “pre-salt” oil field and won't need to request a fuel-price increase to meet the obligation, the company's president Graca Foster said on Wednesday.

• Wednesday, October 23rd 2013 - 20:55 UTC

  BP to supply the bulk of Argentina's natural gas demand in 2014 and 2015

  

  Argentina's state-run energy firm YPF has picked BP to supply the bulk of its liquefied natural gas (LNG) needs in 2014 and 2015 following a major recent tender, according to media sources in Buenos Aires. Energy short Argentina last month launched its annual tender to secure approximately 5.57 million tons of LNG over the 2014-2015 period to help cover its energy needs.

• Tuesday, October 22nd 2013 - 15:11 UTC

  The big winners in Kenya’s oil debut

  

  Kenya will start pumping its first commercial oil next year and begin exporting in 2016, but this is just the opening salvo: new discoveries in recent months and fast-track new well development make Kenya the darling of East Africa from an investor’s perspective.

• Monday, October 21st 2013 - 21:41 UTC

  Brazil auctions 35-year production rights to giant offshore Libra oil area

  

  Brazil sold production rights to develop the giant offshore Libra oil area to a consortium led by Brazilian state-run oil company Petroleo Brasileiro SA in an auction with a single bid on Monday. The auction in Rio do Janeiro took place amid strict security measures with hundreds of police forces clashing with protestors.