Energy & Oil

• Friday, May 11th 2012 - 21:15 UTC

  IAE warns Argentina YPF seizure could scare away international oil companies

  

  Argentina's seizure of 51% of the shares of Spanish oil group Repsol's YPF unit could scare away international firms from investing in the, the International Energy Agency said on Friday.

• Friday, May 11th 2012 - 15:38 UTC

  Indian leading oil company in talks to buy 25% stake in Falklands’ exploration block

  

  The overseas arm of Indian state-owned Oil and Natural Gas Corp (ONGC), ONGC Videsh Ltd is in talks to buy 25% stake in an exploration block off Falkland Islands in the South Atlantic, reports The Economic Times from New Delhi.

• Friday, May 11th 2012 - 15:20 UTC

  Borders & Southern begins drilling its second well to the south of the Falklands

  

  Falkland Islands exploration company Borders & Southern (AIM: BOR) announced the spudding of its second well, 61/25-1, on 11 May 2012. The well is located 170 km south of the Falkland Islands.

• Friday, May 11th 2012 - 02:31 UTC

  Falklands’ Desire Petroleum stake in oil discoveries worth 900 million dollars

  

  The North Falkland basin explorer Desire Petroleum has revealed the findings of an economic assessment of the group’s stake in the Sea Lion oil discovery, based on a high level development concept and economic review by Senergy from the UK.

• Thursday, May 10th 2012 - 05:23 UTC

  France’s Total awarded an oil exploration licence offshore Uruguay

  

  France’s Total has been awarded an exploration licence for block 14 offshore Uruguay, following a second bid round staged by state-owned company ANCAP. Confirmation of the award is subject to further approval by Uruguayan authorities.

• Thursday, May 10th 2012 - 01:09 UTC

  Major oil congress in Brazil to address challenge of pre-salt deposits development

  

  The challenge of exploring and extracting Brazil’s massive pre-salt offshore hydrocarbons deposits will be addressed at the congress to be held in Rio do Janeiro next June with the participation of 250 delegates from international corporations, Petrobras and other Brazilian government institutions.

• Wednesday, May 9th 2012 - 17:59 UTC

  Goldman Sachs raises price target for Falklands’ Rockhopper Exploration

  

  Goldman Sachs raised its price target on several exploration and production companies, including Falklands’ Rockhopper Exploration, and said there were opportunities for deals in some assets in the sector.

• Wednesday, May 9th 2012 - 08:21 UTC

  Argentine Vice President, in Washington, invited US oil companies to invest in YPF

  

  Argentine Vice President Amado Boudou on Tuesday urged US companies to invest in YPF, the nationalized oil company that Argentina recently expropriated from Spain's Repsol.

• Wednesday, May 9th 2012 - 08:07 UTC

  Argentina, the outcast

  

  By Luis Felipe Lampreia (*) - The following piece is a picture of recent events in Argentina from a historic reference and enumerates the obstacles the country faces in developing its own hydrocarbons following the seizure of YPF from Spain’s Repsol

• Tuesday, May 8th 2012 - 22:37 UTC

  China buying oil from Iran using the Yuan, reveals Teheran ambassador in UAE

  

  China is buying crude oil from Iran using its currency the Yuan, an Iranian diplomat has said. Oil transactions are usually settled in dollars but US sanctions make it difficult for Iran to accept payments in the US currency.