Energy & Oil

• Tuesday, May 8th 2012 - 06:23 UTC

  Galuccio wants YPF as the leading company in rejuvenation of marginal fields

  

  Argentina’s nationalized oil and gas corporation YPF newly appointed General Manager Miguel Galuccio hosted on Monday his first official meeting addressing an auditorium of 200 workers at the Comodoro Rivadavia plant where he announced that the strategic plan of the company will be ready in the next 100 days.

• Tuesday, May 8th 2012 - 06:21 UTC

  Banks will wait for YPF to name new board of directors before taking action

  

  The banks that helped Argentina's Petersen Group buy a stake in energy company YPF will give the group extra time to make a loan payment due this month, according to sources involved in the negotiations.

• Tuesday, May 8th 2012 - 01:58 UTC

  Respsol warns its peers with legal actions if they team up with nationalized YPF

  

  Spain-based energy group Repsol has sent letters to oil majors including Exxon-Mobil, Chevron and Conoco-Phillips warning it would sue them if they try to invest in YPF or its assets, reports the British newspaper The Financial Times.

• Saturday, May 5th 2012 - 06:41 UTC

  Cristina Fernandez enacts YPF nationalization and oil and gas self-sufficiency law

  

  Argentine President Cristina Fernández enacted the YPF nationalization law, which was approved by the Lower House on Thursday. During a nation-wide televised speech from Government House, the Head of State also introduced the company’s new CEO, oil engineer Miguel Galuccio.

• Saturday, May 5th 2012 - 06:35 UTC

  Spain says Argentina should follow Bolivia example and pay a ‘fair price’ for YPF

  

  Toning down its initial strong reactions to the nationalization of Spanish controlled YPF Spain’s Foreign minister Jose Manuel Garcia Margallo said that Argentina should pay a “fair price” for the oil company citing a similar case in Bolivia this week.

• Saturday, May 5th 2012 - 06:31 UTC

  A successful oil and gas engineer with global experience, YPF next CEO

  

  A drilling engineer with a long experience in the oil and gas industry Miguel Galuccio, 44, will be taking over as of next Monday as manager of the nationalized YPF corporation, announced on Friday Argentine President Cristina Fernandez.

• Saturday, May 5th 2012 - 06:26 UTC

  Uruguay supports Argentina’s seizure of YPF but countries decide “proceedings”

  

  Uruguayan Foreign Minister Luis Almagro backed Argentina’s controversial decision to nationalize the country's biggest oil company YPF arguing countries’ right to recover a strategic market is “indisputable”.

• Friday, May 4th 2012 - 06:11 UTC

  YPF vote splits opposition Radical party; dissenters blame government for the energy policy

  

  Even when the YPF nationalization bill in the Argentine Lower House was passed with support from most opposition parties, including the two main groupings the event was not without incidents.

• Friday, May 4th 2012 - 06:01 UTC

  Euphoric Argentine lawmakers celebrate final approval of YPF seizure

  

  After a two-day session, Argentina’s Lower House voted late Thursday night 207-32 in favour of expropriating energy corporation YPF, clearing the way for President Cristina Fernandez to sign the controversial bill into law.

• Wednesday, May 2nd 2012 - 22:42 UTC

  With oil development in mind, Falklands’ trade delegation visits Aberdeen and Shetlands

  

  A numerous delegation from the Falkland Islands Chamber of Commerce is on its way to Scotland for a five day high-profile meeting with peers from Aberdeen and the Shetland Islands which begins next May 8.