Energy & Oil

• Saturday, April 21st 2012 - 06:57 UTC

  Uruguay and Brazil agree to jointly develop and expand wind power

  

  Uruguay and Brazil agreed this week to jointly set up a 100MW wind farm in Uruguayan territory demanding an investment of 200 million dollars and which should become operational by 2013.

• Saturday, April 21st 2012 - 06:44 UTC

  Petrobras promises to expand and increase investments in Argentina

  

  Brazil’s President Dilma Rousseff following a meeting with an Argentine delegation from the energy sector ratified her country’s decision to “strengthen the investment and the presence of the oil company, Petrobras, in Argentina”.

• Saturday, April 21st 2012 - 04:03 UTC

  Argentina minimizes impact of Spain’s first retaliatory measures

  

  Argentine President Cristina Fernández minimized Spain’s decision to reduce the bio-diesel imports as a retaliation over the expropriation of YPF and called for “calm” after assuring that Argentina “is in condition to absorb” that production in the domestic market.

• Saturday, April 21st 2012 - 03:56 UTC

  IMF says YPF dispute is a “bilateral affair” and decision of “a sovereign nation”

  

  Argentina managed a first point in the diplomatic dispute with Spain over the nationalization of YPF when the IMF decided to call the conflict a “bilateral affair” and “a decision of a sovereign nation”.

• Friday, April 20th 2012 - 04:36 UTC

  Brazil’s two largest companies team up to work together in several projects

  

  Petrobras and mining company Vale, the two biggest companies in Brazil, have signed a memorandum of understanding to pursue joint ventures in various areas, Petrobras said.

• Friday, April 20th 2012 - 00:24 UTC

  Cristina Fernandez “not concerned” about international reaction to YPF takeover

  

  The government of President Cristina Fernandez is “not concerned” about the escalade of international criticism following the announced nationalization of the oil company YPF, and rules “thinking in Argentina not in Spain or the US”, said two cabinet members.

• Thursday, April 19th 2012 - 21:21 UTC

  “President Rajoy, in Colombia we don’t expropriate, we welcome foreign investment”

  

  Colombian president Juan Manuel Santos welcomed Spanish corporations and guaranteed his visiting Spanish peer Mariano Rajoy that in Colombia there will be no surprises because the country follows the rules of the game: “President Rajoy: here we don’t expropriate”.

• Thursday, April 19th 2012 - 20:15 UTC

  Spain claims US will actively side “to restore a good climate for investment” in Argentina

  

  Spain will discuss a joint response with the United States to Argentina‘s forced nationalization of the YPF oil company, Spanish Foreign Minister Jose Manuel Garcia-Margallo said on Thursday.

• Thursday, April 19th 2012 - 20:11 UTC

  France’s Total agrees to further increase natural gas production in Argentina

  

  Argentina's government said on Thursday that it had agreed with France's Total to work together to boost natural gas output by 2 million cubic metres per day at two Patagonian fields where YPF – which is being nationalized – also has a stake.

• Thursday, April 19th 2012 - 19:38 UTC

  World Bank and France criticize Argentina’s “mistake” and international law breach

  

  Argentina's move to nationalize local oil company YPF, controlled by Spain's Repsol, was strongly criticized by the World Bank president Robert Zoellick and French Foreign Minister Alain Juppé.