Energy & Oil

• Saturday, June 2nd 2012 - 03:17 UTC

  Repsol’s only purpose was “to milk dry” YPF of resources and reserves

  

  Argentine President Cristina Fernandez made the historic decision to nationalize oil and gas company YPF at “the right moment” because Repsol was “milking dry” YPF resources and reserves, said Planning Minister Julio De Vido and Deputy Economy minister Axel Kicillof at a press conference at the Economy ministry in Buenos Aires.

• Friday, June 1st 2012 - 01:33 UTC

  Repsol regains 6% warranty-stake in YPF and now owns 12.43% of the company

  

  Spain energy Group Repsol regained rights on a 6% warranty-stake in the Argentine oil and gas giant YPF after the Petersen Group, which used to own 25.46% of the company, lost it as the result of not having met payments for the loan through which they initially enter the business without paying a single cent.

• Wednesday, May 30th 2012 - 17:32 UTC

  Repsol pulls out from Cuba oil search after drilling a second dry well

  

  Spanish company Repsol has said it is pulling out of Cuba after failing in a recent attempt to find oil off the island. Chairman Antonio Brufau told journalists and investors that Repsol “won't do another” well in Cuba.

• Sunday, May 27th 2012 - 03:51 UTC

  Ambassador Argüello explains to the US business community YPF seizure

  

  Argentina explained that the YPF seizure was carried out “in order to avoid an energy crisis” in an article which was published in the US edition of The Financial Times newspaper and signed by Ambassador Jorge Argüello.

• Friday, May 25th 2012 - 09:04 UTC

  Repsol partner in a huge deposit off the Brazilian coast with 1.25bn barrels of oil

  

  Spain’s Repsol, recovering from the recent seizure of YPF by the Argentine government, said an area off the coast of Brazil it is exploring with partner China Petroleum and Chemical Corp. contains the equivalent of at least 1.25 billion barrels of oil.

• Wednesday, May 23rd 2012 - 19:27 UTC

  Falklands’ economy “booming” in spite of Argentina’s efforts of a blockade

  

  Despite desperate attempts from Argentina to deter potential investors and increased interference in Falkland Islands’ activities the objective of an economic blockade has not been achieved, said Governor Nigel Haywood on Wednesday in his ‘state of the nation’ annual speech to the Legislative Assembly.

• Wednesday, May 23rd 2012 - 01:16 UTC

  Falkland Oil & Gas expects farm-in deal with “a listed independent” firm

  

  The political noise stirred up by Argentina over the Falkland Islands will not deter big energy firms from investing in the region if there is enough oil found to make it worthwhile, said the chief executive of exploration company Falkland Oil & Gas.

• Tuesday, May 22nd 2012 - 05:56 UTC

  UK company begins hydrocarbons prospecting in the Paraguayan Chaco

  

  Amerisur Resources Plc, the oil and gas producer and explorer announced on Monday it has received a Prospecting Permit by Paraguay’s Ministry of Public Works and Communications for the Espartillar block in the Paraguayan Chaco.

• Tuesday, May 22nd 2012 - 05:52 UTC

  Price of oil picks up after China announces it will bolster economic growth

  

  The price of oil rose for the first time in seven days in New York after China pledged to boost the nation’s economy and Goldman Sachs Group Inc. said the balance between supply and demand of crude is tightening.

• Tuesday, May 22nd 2012 - 03:07 UTC

  German oil company ignores YPF seizure and keeps expanding activities in Argentina

  

  Germany's Wintershall, the oil and gas arm of chemicals group BASF, said on Monday it was unperturbed by the enforced nationalisation of Argentine oil company YPF, having just been awarded another oil and gas licence there.