Energy & Oil

• Tuesday, June 11th 2013 - 05:12 UTC

  Falkland Islands Holdings results confirm success of South Atlantic oil industry

  

  Falkland Islands Holdings' shares rose on Monday after it posted an increase in underlying pre-tax profits and looked forward to 'an exciting future'. FIH reported underlying pre-tax profits of £3.29m for the year to the end of March - 1.9% up on last time.

• Thursday, June 6th 2013 - 22:33 UTC

  Argentina’s energy imports soar 47% during April propped by gas purchases

  

  Argentina’s energy imports during April soared 47.6% over a year ago reported the government mainly because of massive natural gas purchases for the coming winter. The bill in April climbed to 733 million dollars from 384 million a year ago, while Enarsa the government corporation that has the monopoly of LNG imports spent 438 million this year and 259 million in April 2012.

• Thursday, June 6th 2013 - 22:14 UTC

  Falklands’ oil company completes second 3D survey over its Southern licenses

  

  Falkland Oil and Gas (FOGL) reported Thursday the completion of a 3D survey over its Southern Area licenses offshore the Falkland Islands. FOGL said the survey aimed to target a number of prospects and leads immediately to the west and northwest of the Darwin condensate discovery.

• Wednesday, June 5th 2013 - 22:16 UTC

  Good news for Chevron (and YPF): Argentine court revokes 19bn dollar embargo

  

  Argentina's Supreme Court revoked a 19 billion dollar embargo on the assets and future income of Chevron Corp.'s Argentina subsidiary, giving the U.S. oil giant a victory in a decades-old battle with indigenous groups in Ecuador.

• Tuesday, June 4th 2013 - 19:07 UTC

  Falklands’ oil industry has come of age moving from exploration to production stage, confirms Governor Haywood

  

  For the first time the Falkland Islands have underlined the significance of the hydrocarbons industry as a fully integrated sector of the local economy as it effectively and successfully moves from the exploration to the exploitation stage with first shipments scheduled for 2017. At the same time it regrets that South American companies are not participating of the logistical opportunities because of Argentine interference.

• Tuesday, June 4th 2013 - 05:07 UTC

  Uruguayan forestry company buys turbines for a 90 MW wind farm

  

  Denmark’s Vestas Wind Systems wind-turbine maker received a 90-megawatt turbine order from Compañia Forestal Uruguaya SA for the Pintado power plant in south centre Uruguay. The 30 3-megawatt turbines project will be serviced by the company for 15 years and the farm is expected to be operational by the second quarter of next year.

• Tuesday, June 4th 2013 - 05:05 UTC

  Brazil provides billions to fund renewable-power and bio-fuel technology

  

  Brazil will pour 6.1 billion Reais (2.85 billion dollar) to fund renewable-power and bio-fuel technology research, accelerating its efforts to modernize its energy industry and shift away from a commodity-export based economy.

• Monday, June 3rd 2013 - 05:35 UTC

  Argentina and Repsol in another clash: this time over board members payments

  

  Argentina's nationalized energy company YPF will sue the head of Repsol SA over accusations that YPF's board members were overpaid when the Spanish oil major held a majority stake in the company, the government said.

• Monday, June 3rd 2013 - 05:08 UTC

  Argentina’s policy on foreign investments keeping businesses away

  

  Concern over Argentina's erratic policy on foreign investments is pushing regional business entrepreneurs toward caution and or keeping them away from South America’s second largest economy. Argentina nationalized Spanish oil major Repsol's majority stake in local energy giant YPF last year, a move that triggered alarm in the international investor community.

• Saturday, June 1st 2013 - 19:06 UTC

  Mercosur plan to delay summit and give time to Paraguay to return with full rights

  

  Paraguay is considering the announcement made by Uruguayan president Jose Mujica who suggested delaying the coming Mercosur summit in Montevideo scheduled for the end of June, ‘to wait and give time for Paraguay’ (currently suspended) to return to the block.