Energy & Oil

• Tuesday, July 17th 2012 - 04:51 UTC

  Argentina warns UK company over involvement in Falklands’ oil production

  

  Argentina will take legal actions against Britain's Premier Oil after the company agreed to invest 1 billion dollars to help develop an oil field off the disputed Falkland Islands, Argentina's Foreign Ministry said on Monday.

• Monday, July 16th 2012 - 15:09 UTC

  Disappointing results from oil drilling to the south of the Falklands

  

  Borders & Southern Petroleum reported on Monday disappointing results in the Falkland Islands from the latest well to be drilled as part of the controversial search for oil in the South Atlantic islands over which Argentina claims sovereignty.

• Saturday, July 14th 2012 - 00:36 UTC

  Argentine province reviewing BP operating licence in main oil field

  

  Argentina’s Chubut province is reviewing the operating license of BP Plc main oil field in the country and may revoke it, the provincial oil minister said. The review started after operations were interrupted last month for over three weeks during a workers’ protest, Minister Ezequiel Cufre said in an interview in Buenos Aires.

• Friday, July 13th 2012 - 23:46 UTC

  Rousseff pledges to prop the economy but with no EU-style austerity measures

  

  Brazil will not adopt EU-style austerity measures to tackle its economic crisis and will instead cut taxes and maintain social programs, President Dilma Rousseff said on Friday.

• Friday, July 13th 2012 - 06:52 UTC

  The Argentine government moves into the power distribution sector

  

  Argentina's government appointed an “observer” Thursday to oversee business operations at the power distributor Edesur SA, after the company reportedly failed to make a payment to a regulatory company.

• Thursday, July 12th 2012 - 19:36 UTC

  Rockhopper signs a billion dollars deal to develop Falklands’ oil discovery

  

  Britain's Premier Oil announced on Thursday a 1 billion dollars deal to farm in and develop Rockhopper Exploration oil and gas discoveries in the Falkland Islands.

• Thursday, July 12th 2012 - 06:57 UTC

  China cuts retail fuel prices 5%, the third cut in two months

  

  China, the world's second biggest consumer of fuel, has cut retail oil prices by about 5% with immediate effect. This is the third cut in two months, and some analysts say could be an attempt to increase fuel consumption. Demand for oil fell for the first time in three years in April.

• Wednesday, July 11th 2012 - 19:35 UTC

  OPEC lowers world oil demand forecast for next year

  

  The Organization of the Petroleum Exporting Countries, left its forecast for 2012 growth in world oil demand unchanged at 0.9 million barrels a day, saying it expects growth to slow to 0.8 million barrels a day in 2013 due to a continuing global economic slowdown.

• Saturday, July 7th 2012 - 01:11 UTC

  “Collusion” much to do with Japan’s Fukushima nuclear crisis, says expert panel

  

  Japan's Fukushima nuclear crisis was a preventable disaster resulting from “collusion” among the government, regulators and the plant operator, an expert panel said, wrapping up an inquiry into the worst nuclear accident in 25 years.

• Friday, July 6th 2012 - 15:59 UTC

  Falklands’ farms helped with wool prices rapidly moving to wind energy

  

  Electricity generated from wind is spreading across the Falkland Islands with two large farms Goose Green and Fitzroy preparing to be the next to have turbines, inverters and batteries installed.