Energy & Oil

Thursday, January 17th 2013 - 15:38 UTC
Atlantic countries concerned with UK presence in Falklands; call for talks with Argentina

Twenty one countries from South America and Africa strongly supported their commitment to keep the South Atlantic free of arms of massive destruction and expressed concern over the British military presence in the Falklands/Malvinas, which are claimed by Argentina.
Thursday, January 17th 2013 - 14:04 UTC
Despite inflation risks Brazil keeps interest rates at record low, 7.25%

The Brazilian central bank kept its benchmark interest rate at a record low for the second straight meeting, 7.25%, despite admitting inflation was a short term risk and economic recovery less intense than expected.
Thursday, January 17th 2013 - 08:23 UTC
New housing project in Stanley anticipating Falklands’ oil industry development

In anticipation of the business opportunities the oil industry will bring to the Falkland Islands, a leading company has plans to build in the capital Stanley 26 two bedroom apartments in the form of an 80 metre long terrace on land were previously there were temporary housing and offices since removed.
Wednesday, January 16th 2013 - 03:52 UTC
Statement on Falklands expected from South Atlantic peace zone meeting

Representatives from 21 African and South American countries are debating in Uruguay the consolidation of the South Atlantic as a zone free of massive destruction arms and its “improper militarization”, as a result of the growing tension between the UK and Argentina over the Falkland Islands.
Saturday, January 12th 2013 - 17:53 UTC
Methanex Canada to idle plant in Punta Arenas because of insufficient gas provision

Chilean Energy minister Jorge Bunster regretted on Friday Methanex Canada announcement on its decision to idle operations in Chile in March due to lack of adequate natural gas supply. The company stated that it does not have sufficient feedstock to keep the plant in operation given the natural gas supply challenges.
Thursday, January 10th 2013 - 18:56 UTC
FAO food price index finished the turbulent 2012 down 7% compared to 2011

The United Nations reported on Thursday that food prices fell for the third month in a row in December last year, balancing out sharp increases registered earlier in 2012, which had previously sparked fears of a food crisis.
Wednesday, January 9th 2013 - 18:29 UTC
New oil extraction technologies have the US closer to energy independence

US crude oil production is expected to rise by the largest amount on record in 2013, the Energy Information Administration said, and is set to soar by almost a quarter over the next two years.
Wednesday, January 9th 2013 - 16:50 UTC
Argos Resources storms ahead of its Falklands’ oil drilling rivals

Argos Resources the only Falklands explorer to not drill a well has had the most successful year of them all in share price terms. Results of interpretation of 3D seismic data are encouraging with a number of prospects identified and the company is looking for industry partners to take exploration drilling forward. Year to date share price performance: up 107.92% at 24.95p.
Wednesday, January 9th 2013 - 16:39 UTC
Rockhopper planning minimum three wells offshore Falklands in 2014

Rockhopper Exploration which discovered oil offshore the Falkland Islands in 2010 at its Sea Lion prospect is planning a minimum of three exploration and appraisal wells on its North Falkland Basin acreage in 2014 including Sea Lion satellites Casper, Casper South, and Beverley.
Wednesday, January 9th 2013 - 05:02 UTC
Argentina rapidly changing oil/gas industry levies to attract foreign investment

Argentina unveiled a new system of export duties on oil shipments that will cut levies as the government seeks to attract investment to revive stagnant production. The change means energy companies will receive 70 dollars per barrel of exported oil, up from 42 previously. Argentina controls the price of oil exports in order to guarantee domestic supply.