Energy & Oil

• Wednesday, May 2nd 2012 - 05:07 UTC

  Bolivia seizes Spanish owned power company, but promises fair compensation

  

  Bolivian President Evo Morales announced on Tuesday the expropriation of Spain’s Red Eléctrica Española (REE) shares at a power transmission company in Bolivia and ordered the Army to take over the firm's headquarters.

• Tuesday, May 1st 2012 - 00:37 UTC

  Argentina looking to absorb the million tons of bio-diesel Spain no longer will import

  

  Almost a million tons of bio-diesel which was exported to Spain will now have to be absorbed by Argentina’s domestic market following on Madrid’s decision to cut all imports because of the seizure of oil corporation YPF from Repsol by the administration of President Cristina Fernandez.

• Monday, April 30th 2012 - 07:15 UTC

  Japanese deep-sea drilling vessel sets new record at 7.740 metres

  

  Japanese maritime research agency announced that its deep-sea scientific drilling vessel has reached a point at 7,740 meters below the ocean surface, setting the world's record for such drilling.

• Monday, April 30th 2012 - 04:11 UTC

  New YPF management says gas supply is guaranteed, in spite of Repsol

  

  The current managers of YPF accused Spain’s Repsol of deliberately delaying or ignoring contracts to supply Argentina with liquid natural gas, following the seizure of a majority stake in the company belonging to the Spanish corporation.

• Monday, April 30th 2012 - 04:08 UTC

  “Brazil ready to live a natural gas golden era” with self sufficiency in five years

  

  Brazil which currently imports 35% of the natural gas it consumes from Bolivia has found sufficient reserves to ensure self-sufficiency in the coming five years announced Mines and Energy minister Edison Lobao.

• Saturday, April 28th 2012 - 06:11 UTC

  Falklands’ budget enjoys additional surplus boosted by the oil industry

  

  The Falkland Islands oil industry has contributed with an unexpected addition of £9.2M to the Falkland Islands Government (FIG) budget in the first nine months of the financial year 2011/12, reported the Islands government Standing Finance Committee.

• Saturday, April 28th 2012 - 06:07 UTC

  In a massive rally CFK reaffirms YPF seizure and thanks the opposition’s support

  

  Argentine President Cristina Fernandez in a massive political rally on Friday defended her policy to seize YPF from Spain’s Repsol, thanked the opposition for their legislative support and called on the new generations to defend the “historic legacy”.

• Friday, April 27th 2012 - 11:30 UTC

  Timerman replies to De Gucht rejecting “unacceptable” arguments and “tone”

  

  Argentine Foreign Minister Héctor Timerman said the recent criticism from the European Trade Commissioner Karel De Gucht regarding the YPF expropriation is “unacceptable,” and assured that it “surprised him due to his tone and approach”.

• Friday, April 27th 2012 - 09:33 UTC

  Argentine Securities Commission puts more pressure on Falklands’ oil industry

  

  Argentina’s National Securities Commission, CNV, announced on Thursday that it will inform UK regulatory authorities on the legal actions to be undertaken by the Argentine state against oil companies “illegally operating in the Malvinas Islands”.

• Thursday, April 26th 2012 - 21:51 UTC

  YPF seizure has sent “shockwaves” globally; Argentina will “suffer consequences”

  

  European Trade Commissioner Karel De Gucht said Argentina is in for long term consequences after sending “shockwaves” internationally with the announced plans to expropriate 51% of YPF shares owned by Spain-based Repsol oil and gas company.