Energy & Oil

• Thursday, April 26th 2012 - 21:51 UTC

  YPF seizure has sent “shockwaves” globally; Argentina will “suffer consequences”

  

  European Trade Commissioner Karel De Gucht said Argentina is in for long term consequences after sending “shockwaves” internationally with the announced plans to expropriate 51% of YPF shares owned by Spain-based Repsol oil and gas company.

• Thursday, April 26th 2012 - 21:33 UTC

  Argentine Lower House discusses YPF bill; CFK should stamp it into law next week

  

  Committees of Argentina’s Lower House of Congress began a plenary session on Thursday in order to clear the YPF expropriation bill for debate, which was approved early morning by the Senate.

• Thursday, April 26th 2012 - 21:06 UTC

  Borders & Southern raises £46 million to analyze gas discovery in the Falklands

  

  Oil explorer Borders & Southern boosted its available funds to help it analyse a gas discovery in the Falkland Islands, by raising £ 46 million through a share placing.

• Thursday, April 26th 2012 - 05:59 UTC

  Brazil investing heavily in developing Peruvian natural gas sector

  

  Three of Brazil's leading companies said on Wednesday they are increasing investment and exploration in Peru's natural gas sector as the country prepares to build a new pipeline and petrochemical plants.

• Thursday, April 26th 2012 - 01:33 UTC

  Argentina warns Falklands’ oil companies of May 2 deadline when legal actions begin

  

  Argentina once again warned oil companies considered by the Government to be “illegally operating” in the Falklands/Malvinas Islands, and reiterated it will press charges against them unless they justify their actions before next Wednesday, May 2.

• 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.