Energy & Oil

• Sunday, May 20th 2012 - 22:24 UTC

  Repsol working with a Chinese rig drills dry well off the coast of Cuba

  

  Spanish oil company Repsol has announced a first attempt to find oil in Cuban waters has failed. Repsol spokesman Kristian Rix said an exploratory well it drilled some 50km off Cuba was unsuccessful and would be abandoned.

• Sunday, May 20th 2012 - 22:20 UTC

  Obama, , Hollande and Monti push for growth and debt reduction at G8 summit

  

  President Barack Obama pledged at the G8 summit on Saturday to work with Europe on a package that balances growth with debt reduction as world leaders try to prevent the worsening Euro zone crisis from destabilizing the global economy.

• Friday, May 18th 2012 - 22:54 UTC

  EU ambassador in Argentina suggests “negotiated agreement” for the Repsol/YPF dispute

  

  The European Ambassador to Argentina, Spanish native Alfonso Díez Torres, stressed on Friday that the solution for the YPF seizure conflict would be “a negotiated agreement” between Argentina and Repsol.

• Friday, May 18th 2012 - 22:39 UTC

  Repsol cancels contract to supply Argentina with LNG; YPF ensures supply

  

  Spain’s Repsol has cancelled its contract to supply Argentina with liquefied natural gas (LNG), just weeks after the country seized control of the company's majority stake in YPF, a document obtained by international news agency Reuters showed.

• Friday, May 18th 2012 - 04:12 UTC

  YPF second shareholder misses 400 million dollars payment to creditor banks

  

  Argentina's Petersen Group missed a 400 million dollars payment to creditor banks on Wednesday, which could allow them to seize the shares of oil company YPF backing the loan.

• Friday, May 18th 2012 - 03:07 UTC

  Growing doubts about Uruguay’s goal of 1.2GW wind power by 2015

  

  Uruguay’s ambition to have 1.2GW of wind power in operation by 2015 may have to be delayed for several years because logistical problems and tightening returns could make some projects unfeasible.

• Thursday, May 17th 2012 - 11:52 UTC

  Argentine provinces face less revenue and higher rates because of YPF seizure

  

  Argentine provinces are falling back in paying salaries and honouring debts as they face a shortage of cash and almost record rates for issuing bonds in money markets, reports Buenos Aires financial press.

• Thursday, May 17th 2012 - 11:18 UTC

  Colombia’s oil company overtakes Petrobras as Latam’s largest company in market value

  

  Colombia’s national oil and gas corporation Ecopetrol has become Latin America's biggest company by market value, overtaking Brazil's mighty Petrobras.

• Thursday, May 17th 2012 - 10:25 UTC

  Uruguay prepares for a serious power shortage because of lack of rainfall

  

  Uruguay’s state-owned power company UTE, is spending over seven million dollars per day to contain the deficit originated in poor rainfall that threatens production from the country’s four main hydroelectric generating plants.

• Wednesday, May 16th 2012 - 21:58 UTC

  State-controlled YPF wants to keep its ADS listed in the New York exchange

  

  Argentine state-controlled energy company YPF said it risks having its American Depositary Shares (ADS) de-listed by the New York Stock Exchange since it is not complying with all regulatory requirements.