Energy & Oil

• Wednesday, August 31st 2011 - 02:11 UTC

  Chile’s oil corporation to drill ten exploratory wells in Magallanes region

  

  ENAP, Chile’s national oil and gas corporation announced it will invest 30 million dollars in drilling ten exploratory wells in Magallanes province, extreme south Patgonia and where the country’s main hydrocarbons resources are located.

• Wednesday, August 31st 2011 - 01:05 UTC

  Exxon clinches Arctic oil exploration deal with a Russian government company

  

  US oil major Exxon Mobil has clinched an Arctic oil exploration deal with Russian state-owned oil firm Rosneft. The venture seemingly extinguishes any remaining chance of UK’s BP reviving its own deal, which lapsed in May.

• Wednesday, August 31st 2011 - 00:58 UTC

  Hundreds of thousands remain without electricity in north east US and Quebec

  

  The cleanup after tropical storm Irene continued Tuesday across the Canadian province of Quebec, where the storm washed out roads, downed power lines and possibly contributed to one death. An 81-year old man died after he disappeared for several hours during the storm northeast of Montreal.

• Tuesday, August 30th 2011 - 03:54 UTC

  Argentina regulator to investigate YPF and Repsol YPF on accounting standards

  

  Argentina’s securities regulator said it will investigate the chairman and chief executive officer of YPF SA, the nation’s largest oil producer, as part of a probe into the company’s accounting.

• Friday, August 26th 2011 - 16:56 UTC

  Argentina blocks sale of Paraguayan power to Uruguay

  

  “Argentina wants to charge 49 dollars per KW of power transferred from Paraguay to Uruguay, which is five times what it charges Brazil” claims Paraguayan Vice President Federico Franco who described the pretension as “inadmissible and preposterous”.

• Thursday, August 25th 2011 - 06:08 UTC

  Canada to overhaul and expand Argentine nuclear power plant

  

  Argentina signed contracts worth 444 million dollars on Wednesday with a subsidiary of SNC-Lavalin Group, Canada's top engineering firm, to extend the shelf-life of its Embalse nuclear plant.

• Wednesday, August 24th 2011 - 06:40 UTC

  Argentine trade surplus shrinks 22% in July as imports outpace exports

  

  Argentina's trade surplus shrank 22% in July from a year earlier to 672 million dollars as import growth continued to outpace exports, the government said on Tuesday. The trade surplus totalled 861 million dollars in July 2010.

• Tuesday, August 23rd 2011 - 06:20 UTC

  Petrobras expects to lower costs and increase earnings in coming quarters

  

  Operating costs for Brazil's state oil company Petrobras will be lower in the coming quarters Chief Financial Officer Almir Barbassa told financial newspaper Valor Economico in an interview published on Monday.

• Tuesday, August 23rd 2011 - 04:18 UTC

  Falklands’ hydrocarbons policy “is primarily a matter for the Islands”

  

  The hydrocarbons policy within Falkland Islands waters is primarily a matter for the Falklands government and the UK is in no negotiations with Argentina over the future exploitation of any oil deposits found in the Islands waters, said Lord Howell of Guildford, Minister of State, Foreign and Commonwealth Office during question time in the House earlier this month.

• Monday, August 22nd 2011 - 20:48 UTC

  Argentina’s Falklands claim will not significantly impact oil commerciality, says UK leading bank

  

  The commerciality of the Falkland Islands Rockhopper Exploration’s Sea Lion oilfield development shouldn’t be significantly impacted by logistical problems arising from Argentina’s claim over the sovereignty of the Islands, according to analysts at the Royal Bank of Scotland.