Energy & Oil

Friday, June 28th 2013 - 12:26 UTC
Petrocaribe: Central America and the Caribbean’s Energy Dilemma

In the eve of the Managua summit which will focus on creating a new Economic Zone, Petrocaribe, the late Venezuelan president Hugo Chavez’s oil treaty, continues to play a vital role in the economic development of its 18 member states from the Central America and Caribbean region. But given the current political and economic climate in Venezuela, the question remains if Petrocaribe’s cheap oil is sustainable?
Thursday, June 27th 2013 - 05:25 UTC
Energy companies pull a Blackwater (*)

By Daniel J. Graeber - Norwegian energy company Statoil said last week it was forming a special operations division to handle emergency operations in response to a terrorist attack on a natural gas facility in Algeria. The company said it would double the amount of employees it had designated for existing security operations after reviewing the measures in place at the In Amenas gas facility.
Tuesday, June 25th 2013 - 18:39 UTC
Repsol to consider YPF compensation offer, including stake in shale deposits

Spanish oil corporation Repsol's board is scheduled to consider on Wednesday a non-cash compensation offer from Argentina over the seizure of its majority stake in energy firm YPF, according to the Spanish government news agency EFE.
Tuesday, June 25th 2013 - 18:28 UTC
Piñera opens joint-largest wind-farm in the north of Chile

President Sebastian Piñera inaugurated Chile’s joint-largest wind farm at an official ceremony. The 90MW Talinay East facility is owned by Italy’s Enel Green Power and features 45 Vestas V100 2MW turbines in the country’s central Coquimbo region, 400 kilometres north of Santiago.
Tuesday, June 25th 2013 - 18:11 UTC
Chile’s largest energy project left on hold because of electoral debate

A controversial plan to power central Chile by damming Patagonian rivers is doable, the project's head said dismissing criticism from leading presidential candidate Michelle Bachelet that HidroAysen is not viable.
Monday, June 24th 2013 - 18:00 UTC
Extreme energy, extreme implications: interview with Michael Klare

Interview by James Stafford of Oilprice.com - If oil and gas is a profoundly dynamic phenomenon, then so too must be environmental risk and conflicts over natural resources—and we are not getting the full picture from the mainstream media, according to Michael T. Klare, professor of peace and world security studies at Hampshire College, TomDispatch blogger.
Friday, June 21st 2013 - 16:41 UTC
Russia to supply China 270bn dollars in oil on 25 year contract

Russian state oil company Rosneft has agreed to double its oil supplies to China, in a deal worth 270bn dollars over 25 years. Under the terms of the deal, Rosneft will supply 300.000 barrels of oil a day to China starting in 2015.
Monday, June 17th 2013 - 19:44 UTC
India's Energy Ties with Iran Unsettle Washington

India's relentless search for hydrocarbons to fuel its booming economy has managed the rather neat diplomatic trick of annoying Washington, delighting Tehran and intriguing Baghdad, all the while leaving the Indian Treasury fretting about how to pay for its oil imports, given tightening sanctions on fiscal dealings with Iran.
Wednesday, June 12th 2013 - 10:21 UTC
Norway’s Statoil cools new project: tax changes and government delay in building support port

On account of applicable Norwegian Government tax changes Statoil as operator has recommended a delay of the investment decision for the Johan Castberg project in the Norwegian Barents Sea.
Wednesday, June 12th 2013 - 07:22 UTC
Argentina shale oil reserves rank fourth behind Russia, China and US, says latest energy report

Argentina ranks fourth, behind Russia, the United States and China with technically recoverable shale oil reserves of 27 billion barrels, the US Energy Information Administration (EIA) said in a landmark report that offers a preliminary glimpse of the hydrocarbons that remain untapped across the world.