
Argentina’s oil and gas corporation YPF CEO Miguel Galuccio admitted that the ‘energy deficit’ of Argentina has become a serious challenge since the country has started to face a serious shortage of light oil for refining.

United Kingdom’s Premier Oil PLC has been incorporated to the black list of companies banned by Argentina from operating in the country because of its hydrocarbons ‘illegal and clandestine’ activities in the continental shelf next to the Malvinas Islands without the competent authorization.

Pemex, Mexico’s state oil and gas monopoly and the world’s fifth-largest crude producer, would consider an offer to partner with YPF in developing shale projects in Argentina, said a director of the corporation.

Spain’s Repsol inaugurated on Thursday, a month before schedule, a new module of its gas processing plant in Margarita in the south of Bolivia which will allow the company in three weeks, to significantly increase its production and delivery to Argentina, its main client.

YPF Chief Executive Officer Miguel Galuccio said Argentina’s nationalized energy company is willing to form a partnership with Mexico’s state-run Petroleos Mexicanos to develop shale oil and natural gas deposits in the Vaca Muerta formation.

President Nicolas Maduro blamed Venezuela’s right-wing opposition for what he called “sabotage” and an ‘electrical coup’ that he said caused blackouts that plunged much of the country into chaos.

Falkland Islands Argos Resources oil and exploration company have said that they are extremely well placed to participate in the next round of exploration drilling in the Falklands and they are continuing to consider various ways to finance drilling.

Falkland Islands member of the Legislative Assembly Dick Sawle will be in Montevideo 2-6 September, after spending a week in Brazil involved in business, academia and informal political contacts sponsored by the Foreign Office. In Uruguay according to the official release MLA Sawle will inform about business opportunities with the Falklands and to strengthen the historical ties with Uruguay.

An Argentine lawmaker claims that the US oil corporation Chevron which is investing heavily in developing shale resources in Neuquen with YPF is a partner of Oil Spill Response Limited that is also involved with the oil companies operating in the South Atlantic in Argentine waters but licensed by the Falkland Islands government.

Premier Oil exploring for oil in the Falkland Islands said the company is studying cost alternatives to its drilling operations and crude extracting sub-sea architecture for the development of the Sea Lion project, which could delay the original chronogram for first oil.