Energy & Oil

• 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.

• Friday, August 3rd 2012 - 22:11 UTC

  Uruguay’s July inflation record low on government successful electricity saving campaign

  

  Uruguay’s annual consumer-price inflation dropped in July to 0.27% the lowest in 58 years, accumulating 7.48% in the last twelve months (down from 8% in June), and 4.41% in the first seven months of 2012.

• Friday, August 3rd 2012 - 08:25 UTC

  Falkland Islands debates and prepares for the development of the oil industry

  

  A public debate on the future of the Falkland Islands in the face of income from oil exploitation is required rapidly, according to a Member of the elected Legislative Assembly.

• Friday, August 3rd 2012 - 07:01 UTC

  Petrobras and BP discover oil in deep-water at the northeast basin off Ceara

  

  Brazil’s government controlled oil and gas corporation Petrobras and Britain’s BP announced the discovery of oil in a deep-water offshore well in a new area for exploration off Brazil's northeast coast, according to a securities filing on Thursday.

• Thursday, August 2nd 2012 - 07:31 UTC

  YPF after Chinese cooperation for development of Vaca Muerta shale deposits

  

  Federal Planning Minister Julio de Vido announced that several members of the Argentine Government would be flying to China in September in order to close several cooperation agreements between Chinese oil companies and YPF, intended to deepen the bilateral relations.

• Thursday, August 2nd 2012 - 06:34 UTC

  India’s two power outage incidents in two days punished almost a billion people

  

  New Delhi’s Metro shut down and hundreds of coal miners were trapped underground after three Indian electric grids collapsed in a cascade on Tuesday cutting power to 620 million people in the world’s biggest blackout.

• Wednesday, August 1st 2012 - 07:46 UTC

  Argentina/Venezuela sign strategic cooperation agreement to boost energy

  

  After attending the Mercosur extraordinary meeting in Brasilia, President Cristina Fernández and her Venezuelan counterpart, Hugo Chávez, signed a cooperation agreement to develop a strategic energy plan between state oil companies YPF and PDVSA.