Energy & Oil

• Tuesday, July 31st 2012 - 01:19 UTC

  Chavez after an energy alliance with Argentina and Brazil in the framework of Mercosur

  

  Venezuelan president Hugo Chavez announced he expected to sign an oil/gas alliance between Argentina’s YPF and PDVSA (Venezuelan Petroleum) when he meets with his peer Cristina Fernandez in Brasilia in the framework of the Mercosur extraordinary summit to officially incorporate the country as full member of the trade group.

• Monday, July 30th 2012 - 16:39 UTC

  Argentina plans to explore for oil and gas next to the Falklands

  

  As part of its “Malvinas noose tightening” policy the Argentine government is planning an international tender to offer licenses to explore for oil near the Falkland Islands, reports Buenos Aires main daily Clarin in its Monday edition, citing a letter to Congress by Cabinet chief Juan Manuel Abal Median.

• Monday, July 30th 2012 - 07:19 UTC

  Argentina denies plans to intervene the energy sector: “only ensuring investments”

  

  Planning Minister Julio De Vido denied that the Government plans the “intervention” of the energy sector and clarified that “we demand investment and production plans. This is not an intervention, simple more planning.”

• Monday, July 30th 2012 - 07:08 UTC

  Punta Arenas largest single industry leaves for Louisiana: insufficient gas supply

  

  The world’s largest supplier of methanol, Canadian-based Methanex, will invest 550 million dollars to relocate a methanol production plant from the extreme south of Chile to a 225-acre site in Geismar, Louisiana.

• Monday, July 30th 2012 - 07:04 UTC

  Soaring costs delay Barrick-Gold Andes mining project delayed a full year

  

  Barrick Gold, the world’s biggest gold miner, says its capital costs to develop a giant mine high in the Andes could reach 8 billion dollars and has delayed production until 2014.

• Saturday, July 28th 2012 - 09:07 UTC

  Argentine government takes control of oil and gas industry planning

  

  The Argentine government announced the creation of an oil planning commission that will set national energy goals and have the power to review private companies’ investment plans.

• Saturday, July 28th 2012 - 02:12 UTC

  Mujica forecasts Venezuela will rapidly become Uruguay’s third trade partner

  

  Uruguayan president Jose Mujica strongly defended the incorporation of Venezuela to Mercosur and forecasted that in a short time the country will become Uruguay’s third trade associate, behind China and Brazil.

• Saturday, July 28th 2012 - 01:25 UTC

  Rousseff pledges to tackle the “Brazil cost” with new stimulus package

  

  Brazilian President Dilma Rousseff said on Friday her government will unveil more measures to stimulate the economy in the next few months, including investments in ports, airports, railroads and highways.

• Thursday, July 26th 2012 - 21:24 UTC

  Repsol net profit down in second quarter; plans sale of assets to boost production

  

  Spain’s Repsol SA said on Thursday its second-quarter net profit (excluding the recently-nationalized Argentine unit YPF) declined 45% on the year, as higher production in Libya and elsewhere couldn't offset the effect of declining oil and gas prices on the value of inventories.

• Wednesday, July 25th 2012 - 06:36 UTC

  Argentina is making few friends in the oil and gas industry these days

  

  Interview with Sam Logan (*) Angering Spain by seizing and nationalizing a majority of Repsol's shares in YPF and ramping up the rhetoric over the Falkland Islands as exploration deals promise to make the territory a major oil player overnight, Argentina is making few friends in the fossil fuels industry these days.