Energy & Oil

• Thursday, April 26th 2012 - 01:21 UTC

  Repsol’s numbers are ‘false’ and caused ‘great damage’ to the Argentine economy

  

  Three Argentine ministers denied as “false” that YPF, under control of Spain’s Repsol had invested more than 20 billion dollars in the company since 1999, arguing the fall in Argentine oil and gas production and reserves is clear evidence of that.

• Wednesday, April 25th 2012 - 21:42 UTC

  Energy rich Venezuela starts nationwide power rationing program

  

  Venezuelan authorities announced on Tuesday the resumption of nationwide power rationing plans to cope with the imbalance between supply and demand in the National Electricity System (SEN).

• Wednesday, April 25th 2012 - 21:35 UTC

  High cost and scarcity of electricity threatens Chile’s massive investments in copper industry

  

  The biggest-ever pipeline of copper projects is under threat as Chile, the world's top producer, struggles to contain rising opposition to new power plants.

• Wednesday, April 25th 2012 - 07:02 UTC

  Argentina must take control of its natural resources, insists Cristina Fernandez

  

  Argentine President Cristina Fernández vindicated her decision to expropriate YPF, assuring that her Government “remains convinced that all Argentines should be in control of the country’s natural resources.”

• Wednesday, April 25th 2012 - 04:47 UTC

  Repsol says it has invested over 20 billion dollars since taking over YPF in 1999

  

  Spain’s energy corporation Repsol describes as ‘false’ Argentine government allegations that its affiliate YPF “had not invested sufficiently” in its hydrocarbons interests in Argentina.

• Tuesday, April 24th 2012 - 21:52 UTC

  Independent oil company plans major expansion in Chile, Argentina and Colombia

  

  Latin American independent oil and gas explorer GeoPark Holdings Ltd is planning a major expansion of its activities in 19 licensed blocks in three countries with the purpose of significantly increasing oil and gas production in the next 18 months, according to a report released by the company.

• Tuesday, April 24th 2012 - 06:38 UTC

  S&P downgrades Argentina’s outlook to ‘negative’ spurred by policies enacted since October 2011

  

  Rating Agency Standard and Poor’s (S&P) downgraded Argentina’s economic and financial outlook to “negative,” after the expropriation of YPF, which endangers the “B” rating the country has for its sovereign debt.

• Tuesday, April 24th 2012 - 03:57 UTC

  YPF nationalization bill does not contemplate compensations, says Kirchnerite Senator

  

  Senator from the Argentine ruling majority and former cabinet chief, Aníbal Fernández assured that the government “will pay the real price for the expropriation of YPF and not what Repsol’s chairman (Antonio Brufau) wants.”

• Tuesday, April 24th 2012 - 01:51 UTC

  Colombia offers to mediate in the YPF conflict between Argentina and Spain

  

  Colombia is available to mediate between Spain and Argentina to find a solution to the dispute over the seizure of YPF from Repsol, said Colombian Vice-president Angelino Garzón.

• Tuesday, April 24th 2012 - 01:23 UTC

  Spain’s Repsol threatens companies investing in seized YPF with legal actions

  

  Spain’s main oil corporation Repsol warned it could take legal action against companies that invest in YPF after Argentina seized control of the Spanish company's energy unit last week.