Energy & Oil

Thursday, April 25th 2013 - 05:46 UTC
China to overtake US as main oil importer by 2014 says OPEC

China is on course to overtake the US as the world’s top crude importer by 2014, as the Asian country’s growing refining capacity boosts demand and America’s fracking boom cuts the need for foreign oil, OPEC said in its monthly report.
Wednesday, April 24th 2013 - 06:29 UTC
Falkland Island's booming economy: request to develop two 200-bed accommodations

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 two temporary 200-bed accommodations, according to the planning applications received.
Wednesday, April 24th 2013 - 05:49 UTC
Brazil to the rescue of the sugar-ethanol industry with lower taxes and soft credit

The Brazilian government has come to the rescue of the sugar-ethanol industry announcing that as of next May first the mandatory content of ethanol in gasoline will increase from 20% to 25%, taxes on the sugar-cane fuel will be eliminated and there will be soft loans to keep expansion going.
Saturday, April 20th 2013 - 06:13 UTC
Brazil planning a 10% tax on revenue from nuclear power operations

Brazil’s electricity producing nuclear plants, under the umbrella of Eletronuclear may face a 10% tax on revenue from its nuclear power operations as the country prepares to expand arrangements that target profits from oil and gas and its distribution among local governments.
Friday, April 19th 2013 - 06:24 UTC
Falkland Islands’ Sea Lion project will demand 5bn dollars and first oil is expected 2017

UK independent oil and gas Premier Oil company said that the Falkland Islands Sea Lion project is one of their biggest operations undertaken to date involving an investment of 5 billion dollars with first oil expected sometime in 2017.
Wednesday, April 17th 2013 - 07:47 UTC
A year on YPF’s seizure, Argentina’s energy challenge remains equally strong

Argentina’s President Cristina Fernández takeover of YPF to pare energy imports is backfiring and threatening to narrow the country’s trade surplus needed to pay debt, according to a report from Bloomberg.
Tuesday, April 16th 2013 - 05:55 UTC
‘The Argentine joke’ and Cristina Fernandez as Pinocchio, headlines of Brazil’s influential magazine Veja

One of Brazil’s most influential magazines and with the largest circulation, Veja, included a controversial piece which questions Argentina’s economic and social statistics than come under the responsibility of the non less famous Indec.
Monday, April 15th 2013 - 06:39 UTC
Capriles won’t accept presidential result until “every vote is recounted, one by one”

Denouncing election irregularities, Venezuelan opposition candidate Henrique Capriles Radonski demanded a recount and said early Monday that he will not recognize the country's presidential results ”until every vote is counted”. His comments came less than an hour after officials said the man former Venezuelan President Hugo Chavez handpicked to be his successor had won the country's presidential vote.
Thursday, April 11th 2013 - 06:38 UTC
When oil is involved, compromise is key

By Terry Karl (*) - The death of Margaret Thatcher will not change the necessity for or the timing of negotiations on the Falklands/Malvinas issue. This political football has re-emerged repeatedly – regardless of the leaders in power – usually for domestic reasons in both Argentina and the United Kingdom. There is little political will for a settlement in the short-term on either side, especially now that offshore oil is publicly and definitively in the picture.
Thursday, April 11th 2013 - 00:39 UTC
YPF forced to import more fuel following fire in La Plata refinery

Argentina’s state oil and gas company YPF CEO Miguel Galuccio announced that fuel production could drop 7% because of a fire at its refinery in La Plata. A return to full operations at the 180.000 bpd facility is expected in 30-45 days time.