Energy & Oil

• 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.

• Saturday, June 1st 2013 - 19:03 UTC

  Biden meets Rousseff, underlines the importance of a broader relationship with Brazil

  

  US Vice-President Joe Biden wound up a visit to Brazil on Friday saying it was high time the two largest economies in the Americas became closer partners in trade, investment and energy. He made the statement following a ‘wide-ranging discussion’ with President Dilma Rousseff at the Planalto palace in Brasilia.

• Saturday, June 1st 2013 - 17:34 UTC

  Argentina dollar markets waiting for implementation of the ‘whitewashing bill’

  

  The US dollar in Argentina’s parallel or ‘blue market’ finished on Friday the month of May down 6.4% from the 9.40 Pesos at the end of April, including a slight drop in the last day of trading, that took it to 8.75 Pesos and 8.80 Pesos, buying and selling price.

• Saturday, June 1st 2013 - 17:27 UTC

  Argentina insists with self-sufficiency in oil production in four years

  

  Argentine President Cristina Fernández administration agreed with oil-producing provinces and unions from the sector to strictly control the levels of exploration, production, the amount of equipment in use and the total number of jobs in each of the oil fields across the country, with the goal of reaching hydrocarbon self-sufficiency within four years.

• Friday, May 31st 2013 - 17:23 UTC

  Falklands’ government praised for five year plan to develop oil and gas industry

  

  The Specialist Oil & Gas Advisor for the Falkland Islands Government (FIG), Anne Drinkwater has stated that the Falkland Islands are an attractive location for the oil and gas industry and has praised FIG five year plan which sets the desired economic and social context for development generally.