Energy & Oil

• Friday, August 10th 2012 - 07:03 UTC

  Falklands, an “excellent investment destination” for the oil industry

  

  The Falkland Islands Government has welcomed the news of a farm-in agreement between Falkland Oil and Gas Ltd and US based Noble Energy which was announced on Monday and confirms the Falklands as an “excellent investment destination”.

• Thursday, August 9th 2012 - 01:34 UTC

  Falklands’ oil explorer says deal with US company is “not politically motivated”

  

  The Chief Executive of Falkland Oil and Gas Ltd, FOGL, has said that its farm out agreement with Texas based US firm Noble Energy is not “politically motivated”, according to a report by the Daily Telegraph.

• Thursday, August 9th 2012 - 01:02 UTC

  Argentina warns US and EU markets on oil exploration activities in the Falklands

  

  Argentina’s National Securities Commission, CNV, officially communicated leading international stock exchanges in the US and Europe that hydrocarbons companies operating in the Argentine continental shelf in the area of the disputed Falklands/Malvinas Islands are involved in “illicit and clandestine” activities.

• Wednesday, August 8th 2012 - 07:06 UTC

  Argentina complains involvement of Texas company in Falklands’ oil activities

  

  President Cristina Fernandez government expressed its deep disappointment directly to the State Department following the announcement that the Texan oil company Noble Energy would become involved in hydrocarbons activities in the Falkland Islands.

• Monday, August 6th 2012 - 21:18 UTC

  US Noble Energy farms in to explore for oil in east and south Falklands’ waters

  

  London AIM listed Falkland Oil and Gas announced it has reached an agreement to farm out a 35% stake in most of its Falkland Islands’ exploration licenses to the US Noble Energy to help fund its drilling plans off the Islands.

• Monday, August 6th 2012 - 07:54 UTC

  Venezuela will help YPF explore for hydrocarbons in fields next to the Falklands

  

  Venezuela’s government oil corporation, PDVSA, in considering with Argentina’s YPF exploring for oil and gas in the area next to Falkland/Malvinas waters, revealed the president of the corporation and Minister of Petroleum and Mining.

• Monday, August 6th 2012 - 07:29 UTC

  Petrobras posts loss in second quarter; blames depreciation of the Real

  

  Brazil state-controlled oil company Petrobras reported a net loss of 1.35 billion Reais (some 633 million dollars at the current exchange rate) in the second quarter, attributing the result to the depreciation of the Real relative to the dollar.

• Saturday, August 4th 2012 - 19:24 UTC

  Falkland Islands’ assessing options for the expansion of port facilities

  

  Falkland Islands port facilities are under assessment given the prospects of oil industry activities in the near future and two options are being considered by the local government: a new port project, and an interim development of the current facilities at FIPASS.

• Saturday, August 4th 2012 - 05:00 UTC

  YPF and PDVSA advance in the energy strategic alliance; next meeting in Caracas

  

  Argentina and Venezuela gave their first step in the creation of an energy strategic alliance between oil companies YPF and PDVSA, after the agreement signed by President Cristina Fernández and her Venezuelan counterpart, Hugo Chávez, in Brasilia last Tuesday.

• Saturday, August 4th 2012 - 03:14 UTC

  Venezuela accession to Mercosur “by the back door”, according to The Economist

  

  Under the heading of “In by the back door” referred to the expansion of Mercosur, The Economist says “bringing Venezuela certainly was smart, in the sense of cunning rather than wise”, but it was done ignoring the block’s rules which call for unanimity in admitting new members.