Energy & Oil

• Friday, February 22nd 2013 - 18:18 UTC

  MLA Hansen takes over Falklands’ Minerals portfolio following controversy

  

  Member of Legislative Assembly Ian Hansen will assume responsibility for the Falklands’ government Minerals portfolio after MLA Barry Elsby relinquished the post due to a conflict of interest. The brief release from Gilbert House adds that MLA Hansen has prior experience in the Minerals portfolio adding that MLA Jan Cheek will continue as the second portfolio holder.

• Friday, February 22nd 2013 - 05:11 UTC

  Colombia with enough oil for eight years at current rate of consumption

  

  Colombia only has enough oil to last another eight years and must urgently step up exploration efforts to locate more reserves, Finance Minister Mauricio Cardenas said.

• Friday, February 22nd 2013 - 01:17 UTC

  Foreign companies don’t have to fear nationalization, if they invest, says Morales

  

  President Evo Morales said on Thursday that Repsol and the other multinational companies operating in Bolivia should not fear nationalization since his government only appeals to that extreme when corporations think in ‘looting’ instead of investing.

• Thursday, February 21st 2013 - 05:27 UTC

  Mercosur begins technical meetings for new proposals on trade accord with EU

  

  Mercosur will retake next March technical discussions for a new proposal to be presented to the European Union for a trade and cooperation agreement, announced Argentine Foreign minister Hector Timerman next to his peer Antonio Patriota following bilateral talks on Wednesday in Rio do Janeiro.

• Thursday, February 21st 2013 - 01:37 UTC

  Japan posts huge January trade deficit: weak Yen, energy bill and dispute with China blamed

  

  Japan’s trade deficit soared to a record 17.4 billion dollars on energy imports, a weaker Yen and the territorial dispute with China, the country’s main trade partner. Exports climbed 6.4% in January from a year earlier, the first rise in eight months while imports increased 7.3%, the Finance Ministry said in Tokyo.

• Monday, February 18th 2013 - 16:55 UTC

  Floater options under consideration for Darwin offshore Falklands development

  

  Oil and gas exploration company Borders & Southern, B&S, expects to start work this month on two projects concerning its licenses in the offshore South Falkland basin, reports from London ‘Offshore’.

• Saturday, February 16th 2013 - 20:34 UTC

  Nationalized YPF in 2012 cut oil production decline and showed modest increase

  

  Argentina’s nationalized oil and gas corporation YPF said oil output rose 2.5% last year, compared with an 8% decline in 2011 while natural gas output fell 2.3% on the year, versus an 11% decline in 2011. According to the statement YPF aims to boost oil production by 4% and gas output by 1.8% in 2013.

• Thursday, February 14th 2013 - 21:00 UTC

  Beijing's pollution alarms neighbours

  

  The good news for the Chinese leadership is that their fiscal policies have paid off, producing both the world's second largest economy and the globe's leading creditor nation in less than a generation.

• Wednesday, February 13th 2013 - 05:24 UTC

  Obama challenges Congress to ‘take a vote’ on a package of progressive reforms

  

  President Barack Obama pledged in his annual State of the Union speech to revive the sluggish US economy by creating “good, middle-class jobs”. The Democratic president promised “smarter” rather than bigger government for “the many, and not just the few” and called on Congress 'to take a vote' on a package of progressive reforms..

• Monday, February 11th 2013 - 22:08 UTC

  FAO January food price index shows oil and fats up, cereals down, dairy and beef unchanged

  

  FAO Food Price Index held steady at 210 points in January 2013 after three straight months of decline. Increases in oil and fats prices offset lower cereals and sugar quotations while dairy and meat values remained substantially unchanged. The pause in the Index's decline tallies with a significant upward revision in FAO latest forecast for 2012 world cereal production. This is now estimated at 2.302 million tonnes - 20 million tonnes up on December's forecast.