Energy & Oil

• Monday, March 26th 2012 - 09:18 UTC

  BP given permission to drill controversial deep-water well west of Shetland

  

  Oil giant BP has been given consent to drill a controversial deep-water well west of Shetland. The North Uist well is about 125km to the north west of the islands, at a depth of nearly 1,300m. The UK government's Department of Energy and Climate Change (DECC) said it had thoroughly examined BP's environmental impact and emergency response plans.

• Monday, March 26th 2012 - 08:30 UTC

  Argentina to raise oil export price to 63 dollars per barrel from the current 42

  

  Argentina’s Energy Secretary Daniel Cameron will propose that oil prices for export be raised to 63 dollars per barrel from the current 42 dollars, the Argentine newspaper La Nacion reported Sunday on its website.

• Monday, March 26th 2012 - 08:18 UTC

  Argentine province of Salta joins the pack and revokes YPF oil concessions

  

  As was anticipated yet another Argentine province, Salta, announced Sunday its decision to revoke a concession from Spanish held oil company YPF. The governor from the north-west province of Salta, Juan Manuel Uturbey, and a close ally of President Cristina Fernandez, announced his decision to revoke oil company YPF concession of the Tartagal Oeste area and his intention to include it in a list of areas that will be put out to tender.

• Sunday, March 25th 2012 - 10:56 UTC

  Argentina begins legal actions against oil companies operating in the Falklands

  

  The Argentine Government announced on Saturday it had begun the legal proceedings put together with the AFIP tax agency against five British oil companies, accusing them of “carrying out illegal operations” in the Falklands/Malvinas Islands.

• Friday, March 23rd 2012 - 23:11 UTC

  Another Argentine province cancels oil concessions to Spain’s held YPF

  

  The Argentine province of Mendoza joined on Friday other oil producing areas of the country in cancelling concession contracts which has been awarded to the Spanish owned oil corporation Repsol-YPF, with which the government of President Cristina Fernandez is involved in a controversy over long term investment.

• Thursday, March 22nd 2012 - 22:10 UTC

  Argentina warns UK and US market regulators about ‘illicit’ oil activities in the Falklands

  

  Argentina has asked British and US market regulators to probe whether oil companies that are involved in hydrocarbons exploration off the disputed Falklands/Malvinas Islands have told investors about the risks of their “illicit” drilling, the Argentine Foreign Ministry reported.

• Thursday, March 22nd 2012 - 01:55 UTC

  Argentine government and YPF can’t agree on the future of the oil company

  

  Argentina and Repsol-YPF oil corporation again clashed on Wednesday over the future of the Spanish owned company while members of President Cristina Fernandez administration said measures “can not be discarded” thus re-launching fears about further government actions.

• Tuesday, March 20th 2012 - 23:51 UTC

  Spain vows to defend Repsol-YPF interests in Argentina; board meeting to decide on YPF profits

  

  Adding fuel to the quarrel between Argentina and Spain for disagreements over Spanish investors administrated YPF, Spanish Industry minister of José Manuel Soria vowed on Tuesday to defend his country’s interests.

• Tuesday, March 20th 2012 - 17:21 UTC

  Falkland Oil and Gas in farmout agreement involving license areas and cash

  

  The exploration company Falkland Oil and Gas Ltd. (FOGL) has entered a farmout agreement with an unnamed party for its licenses south and east of the Falkland Islands.

• Monday, March 19th 2012 - 06:44 UTC

  Falklands’ oil company delays report on deep water exploratory drilling

  

  UK based oil firm Borders & Southern pushed back the time frame for initial results from an exploration campaign offshore the Falkland Islands after a deep water well experienced technical issues.