Energy & Oil

Tuesday, April 17th 2012 - 06:58 UTC
Chavez supports nationalization of YPF; offers Venezuela’s experience in the matter

Argentine president Cristina Fernandez received late Monday the first international support for her announced takeover of YPF from the Spanish corporation Repsol: the Venezuelan government and President Hugo Chavez, revealed the Foreign Affairs ministry.
Tuesday, April 17th 2012 - 06:52 UTC
Chile’s Enap, a partner of Repsol, “so we are also involved in the YPF dispute”

The Chilean government reacted with concern at the announcement by Argentina of a bill to expropriate 51% of the oil company YPF from Spain’s Repsol, since this will have a direct impact for Chile, said on Monday evening the Executive Secretary General Andres Chadwick.
Tuesday, April 17th 2012 - 03:43 UTC
US/Brazil discuss energy cooperation and closer economic ties even free trade agreement

Cooperation in energy development, closer economic ties including a free trade agreement and praise for Brazil’s economic and political leadership were some of the issues discussed by visiting US Secretary of State Hillary Clinton during her first day of meetings with Brazilian officials.
Tuesday, April 17th 2012 - 03:38 UTC
US on YPF takeover: ”Having an open competitive market is a preferable model”

US Secretary of State Hillary Clinton said Argentina will have to justify and assume the responsibilities of its decision regarding the YPF dispute between Argentina and Spain, but at the same time defended models that include competition and market access.
Tuesday, April 17th 2012 - 03:12 UTC
EC supports Spain and warns YPF expropriation can seriously damage business climate

The European Community strongly supported Spain and oil corporation Repsol saying that the expropriation by Argentina of YPF is “a very negative signal” for investors and could seriously damage the business climate of the country.
Tuesday, April 17th 2012 - 03:03 UTC
YPF takeover: “Dreadful decision for Spain, for Argentina and terrible for legal security”

The Spanish government condemned Argentina’s announcement over the expropriation of YPF, calling it a “discriminatory” and “arbitrary” decision, and stated that it will adopt any measures deemed necessary to defend the interests of Repsol and every other Spanish company.
Tuesday, April 17th 2012 - 00:28 UTC
US candidate Dr. Kim chosen World Bank president; takes office next July

US nominee Jim Yong Kim has been chosen as the new president of the World Bank. The Korean-American health expert, president of Dartmouth College faced a strong challenge for the post, which has traditionally gone to an American, from Nigerian Finance Minister Ngozi Okonjo-Iweala.
Monday, April 16th 2012 - 21:48 UTC
Argentina sends bill to takeover control of YPF from Spain’s Repsol

Argentine President Cristina Fernández de Kirchner sent to Congress a draft bill to expropriate Spain’s Repsol’s holdings of YPF oil and gas company. The announcement was made on Monday at the Government House during a sudden meeting with officials, political leaders, unionists and businessmen.
Monday, April 16th 2012 - 06:02 UTC
Uruguay became prisoner of Argentina, when it rejected a free trade accord with the US

Uruguay has fallen prisoner of Mercosur and Argentina because it did not sign the free trade agreement with the United States which was offered to the country in the previous government of Tabare Vazquez, said two-times President Julio Maria Sanguinetti.
Monday, April 16th 2012 - 04:55 UTC
Obama confirms at the summit US neutrality on the Falklands/Malvinas question

The US will remain on the sidelines in the dispute between the UK and Argentina over the Falkland Islands sovereignty, said President Barack Obama on Sunday at the conclusion of the Summit of the Americas in Colombia.