Energy & Oil

• 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.

• Wednesday, May 2nd 2012 - 05:07 UTC

  Bolivia seizes Spanish owned power company, but promises fair compensation

  

  Bolivian President Evo Morales announced on Tuesday the expropriation of Spain’s Red Eléctrica Española (REE) shares at a power transmission company in Bolivia and ordered the Army to take over the firm's headquarters.

• Tuesday, May 1st 2012 - 00:37 UTC

  Argentina looking to absorb the million tons of bio-diesel Spain no longer will import

  

  Almost a million tons of bio-diesel which was exported to Spain will now have to be absorbed by Argentina’s domestic market following on Madrid’s decision to cut all imports because of the seizure of oil corporation YPF from Repsol by the administration of President Cristina Fernandez.

• Monday, April 30th 2012 - 07:15 UTC

  Japanese deep-sea drilling vessel sets new record at 7.740 metres

  

  Japanese maritime research agency announced that its deep-sea scientific drilling vessel has reached a point at 7,740 meters below the ocean surface, setting the world's record for such drilling.

• Monday, April 30th 2012 - 04:11 UTC

  New YPF management says gas supply is guaranteed, in spite of Repsol

  

  The current managers of YPF accused Spain’s Repsol of deliberately delaying or ignoring contracts to supply Argentina with liquid natural gas, following the seizure of a majority stake in the company belonging to the Spanish corporation.

• Monday, April 30th 2012 - 04:08 UTC

  “Brazil ready to live a natural gas golden era” with self sufficiency in five years

  

  Brazil which currently imports 35% of the natural gas it consumes from Bolivia has found sufficient reserves to ensure self-sufficiency in the coming five years announced Mines and Energy minister Edison Lobao.