Energy & Oil

• Sunday, May 27th 2012 - 03:51 UTC

  Ambassador Argüello explains to the US business community YPF seizure

  

  Argentina explained that the YPF seizure was carried out “in order to avoid an energy crisis” in an article which was published in the US edition of The Financial Times newspaper and signed by Ambassador Jorge Argüello.

• Friday, May 25th 2012 - 09:04 UTC

  Repsol partner in a huge deposit off the Brazilian coast with 1.25bn barrels of oil

  

  Spain’s Repsol, recovering from the recent seizure of YPF by the Argentine government, said an area off the coast of Brazil it is exploring with partner China Petroleum and Chemical Corp. contains the equivalent of at least 1.25 billion barrels of oil.

• Wednesday, May 23rd 2012 - 19:27 UTC

  Falklands’ economy “booming” in spite of Argentina’s efforts of a blockade

  

  Despite desperate attempts from Argentina to deter potential investors and increased interference in Falkland Islands’ activities the objective of an economic blockade has not been achieved, said Governor Nigel Haywood on Wednesday in his ‘state of the nation’ annual speech to the Legislative Assembly.

• Wednesday, May 23rd 2012 - 01:16 UTC

  Falkland Oil & Gas expects farm-in deal with “a listed independent” firm

  

  The political noise stirred up by Argentina over the Falkland Islands will not deter big energy firms from investing in the region if there is enough oil found to make it worthwhile, said the chief executive of exploration company Falkland Oil & Gas.

• Tuesday, May 22nd 2012 - 05:56 UTC

  UK company begins hydrocarbons prospecting in the Paraguayan Chaco

  

  Amerisur Resources Plc, the oil and gas producer and explorer announced on Monday it has received a Prospecting Permit by Paraguay’s Ministry of Public Works and Communications for the Espartillar block in the Paraguayan Chaco.

• Tuesday, May 22nd 2012 - 05:52 UTC

  Price of oil picks up after China announces it will bolster economic growth

  

  The price of oil rose for the first time in seven days in New York after China pledged to boost the nation’s economy and Goldman Sachs Group Inc. said the balance between supply and demand of crude is tightening.

• Tuesday, May 22nd 2012 - 03:07 UTC

  German oil company ignores YPF seizure and keeps expanding activities in Argentina

  

  Germany's Wintershall, the oil and gas arm of chemicals group BASF, said on Monday it was unperturbed by the enforced nationalisation of Argentine oil company YPF, having just been awarded another oil and gas licence there.

• Monday, May 21st 2012 - 01:13 UTC

  Oil and gas in Antarctica: El Dorado complex, according to British scientist

  

  The prospect of finding oil in Antarctica was discussed at an event in Aberdeen, Scotland last week. Professor David Macdonald from the University of Aberdeen’s School of Geosciences examined the fact and fiction surrounding claims that oil and gas reserves could exist in this area.

• 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.