Energy & Oil

• Friday, May 18th 2012 - 22:39 UTC

  Repsol cancels contract to supply Argentina with LNG; YPF ensures supply

  

  Spain’s Repsol has cancelled its contract to supply Argentina with liquefied natural gas (LNG), just weeks after the country seized control of the company's majority stake in YPF, a document obtained by international news agency Reuters showed.

• Friday, May 18th 2012 - 04:12 UTC

  YPF second shareholder misses 400 million dollars payment to creditor banks

  

  Argentina's Petersen Group missed a 400 million dollars payment to creditor banks on Wednesday, which could allow them to seize the shares of oil company YPF backing the loan.

• Friday, May 18th 2012 - 03:07 UTC

  Growing doubts about Uruguay’s goal of 1.2GW wind power by 2015

  

  Uruguay’s ambition to have 1.2GW of wind power in operation by 2015 may have to be delayed for several years because logistical problems and tightening returns could make some projects unfeasible.

• Thursday, May 17th 2012 - 11:52 UTC

  Argentine provinces face less revenue and higher rates because of YPF seizure

  

  Argentine provinces are falling back in paying salaries and honouring debts as they face a shortage of cash and almost record rates for issuing bonds in money markets, reports Buenos Aires financial press.

• Thursday, May 17th 2012 - 11:18 UTC

  Colombia’s oil company overtakes Petrobras as Latam’s largest company in market value

  

  Colombia’s national oil and gas corporation Ecopetrol has become Latin America's biggest company by market value, overtaking Brazil's mighty Petrobras.

• Thursday, May 17th 2012 - 10:25 UTC

  Uruguay prepares for a serious power shortage because of lack of rainfall

  

  Uruguay’s state-owned power company UTE, is spending over seven million dollars per day to contain the deficit originated in poor rainfall that threatens production from the country’s four main hydroelectric generating plants.

• Wednesday, May 16th 2012 - 21:58 UTC

  State-controlled YPF wants to keep its ADS listed in the New York exchange

  

  Argentine state-controlled energy company YPF said it risks having its American Depositary Shares (ADS) de-listed by the New York Stock Exchange since it is not complying with all regulatory requirements.

• Wednesday, May 16th 2012 - 21:34 UTC

  Indian oil and gas company desists from Falklands’ exploration partnership

  

  After having to abandon its oil and gas assets quest in Vietnam off the South China Sea India has asked ONGC Videsh Limited (OVL) not to go ahead with its acquisition of hydrocarbon assets located in deep water in Falkland Islands

• Wednesday, May 16th 2012 - 01:33 UTC

  Repsol sues Argentina over YPF in NY court and also takes the case to World Bank arbitration

  

  Repsol YPF SA the large Spanish oil and gas company on Tuesday sued Argentina for seizing control of formerly state-owned energy company YPF SA, in which Repsol held a majority stake.

• Tuesday, May 15th 2012 - 01:36 UTC

  YPF’ golden boy in 2009 was offered the same job but his demands were considered ‘excessive’

  

  Miguel Galuccio the new CEO of seized oil corporation YPF had already discussed conditions with the Argentine government for the job back in 2009, reveals the Spanish press. At that time no agreement was reached because the salary and other conditions he demanded were considered excessive.