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Supply & Demand

Brazilian oil and gas production for March falls 5% month-on-month

Brazilian oil and gas production for March fell by 5% month-on-month to 2.50 MMboe, its lowest monthly average for seven months, the country’s ANP regulator said in a statement on Wednesday.

9 May 2012
Companies & Finance

Miguel Galuccio named as YPF head

Argentine President Cristina Fernandez de Kirchner named former Schlumberger executive Miguel Galuccio as the new head of YPF on Friday, one day after the country’s Congress approved Kirchner’s proposal to expropriate the company from Spanish giant Repsol YPF.

8 May 2012
Policy & Regulation

Resource nationalism – it’s the way you do it

If you prefer logic to coincidences, you won’t be surprised that Latin American governments are calling for a bigger slice of the energy pie just as oil prices return to pre-crisis levels.

8 May 2012
Exploration & Production

The Falkland Islands – a tale of two basins?

UK independent Borders and Southern (B&S) is likely to spud its second wildcat well in the South Falkland Basin either this week or next. There was mixed reaction on the markets to the gas condensate discovery announced from the first well (Darwin) at the end of April, with the company’s shares falling because no oil was found, unlike the at Nort

8 May 2012
Global Markets

Red Electrica seeks compensation from Bolivian government

José Folgado, the president of Spanish power grid operator Red Electrica, which saw its Bolivian assets expropriated this week, will meet the country’s energy minister, Juan José Sosa, next week.

4 May 2012
Supply & Demand

Nearly 25% of Argentina’s LNG imports facing suspension

The fallout from YPF’s renationalisation continues, with nearly one-quarter of Argentina’s LNG requirements this year under threat of suspension, and uncertainty surrounding other spot cargoes.

4 May 2012
Gas for Transport

Peru to open tender to build power plants in Amazon jungle

Peru will open a tender to build two gas-fired power plants in the Amazon jungle on 10 May, state news agency Andina reported.

3 May 2012
Companies & Finance

Pemex reports sharp rise in Q1 net profits

Mexico's state-controlled company Pemex said on Wednesday that its net profit soared in the first quarter to MXN 33.9 billion ($2.6 billion), compared with $116 million in the same period last year, mostly because of higher oil prices.

3 May 2012
Global Markets

Argentina YPF-takeover should receive final vote on Thursday

Argentina's takeover of Repsol-owned oil company YPF is likely to receive a final vote in the country’s Congress on Thursday, reported Agence France Presse.

3 May 2012
Global Markets

Bolivian president seizes assets of Red Electrica

Bolivian President Evo Morales seized the local assets of Spanish power grid operator Red Eléctrica and ordered the armed forces to take over its installations, Dow Jones reported on Tuesday.

2 May 2012
Global Markets

Trinidad faces three major energy industry crises - academic

Kenneth Julien has said in an interview with the Trinidad Express newspaper that the country's industry faces three major crises: the dramatic drop in gas prices, its low gas reserves relative to other nations, and the threat of supply curtailments to the productivity of large industrial users in the Point Lisas estate.

2 May 2012
Exploration & Production

BG announces first production from giant Bolivian field

UK-based BG Group said on Wednesday that it had started production from the first phase of its Margarita gas field in Bolivia with Spanish partner Repsol.

2 May 2012
Exploration & Production

Low prices, security plague Mexico’s flagship Burgos Basin

Low gas prices and poor security are contributing to the decline of the Burgos Basin in northeast Mexico, the country’s largest source of non-associated gas.

1 May 2012
Supply & Demand

Argentine authorities enforce gas rationing, claims newspaper

Argentina’s gas regulator Enargas ordered companies to limit their gas consumption on Saturday, reported the country’s Clarin newspaper on Monday. At the time of publication, Interfax was not able to confirm the news.

1 May 2012
Exploration & Production

“Brazil is ready to live in the natural gas golden era”

Brazil has found enough gas reserves to ensure self-sufficiency over the next five years, Mines and Energy minister Edison Lobao was quoted as saying by the Bernama news agency on Monday.

30 April 2012
LNG

YPF debacle leaves Argentina facing LNG supply crunch

Newly nationalised Argentine oil and gas giant YPF has said that the country’s gas supplies are “guaranteed” despite a dispute with its former Spanish owner Repsol.

30 April 2012
LNG

BG Group to sell 40% stake in Chilean LNG terminal for $352 mn

BG Group said on Friday that it is selling its 40% interest in Chilean LNG regasification terminal GNL Quintero to Enagas for up to $352 million.

27 April 2012
Exploration & Production

CNOOC no longer in Mariscal Sucre

A representative for China National Offshore Oil Corp. confirmed to Interfax on Friday that the company had no operations in Venezuela, despite reports last year it had signed a memorandum of understanding with PDVSA to develop the Mariscal Sucre offshore gas project.

27 April 2012
LNG

YPF cash could be drained for Argentina’s LNG bill

It is still unclear who will pay for LNG imports when YPF replaces Enarsa, but a source close to Repsol, speaking on condition of anonymity, was in no doubt on Friday.

27 April 2012
Global Markets

Argentinia's Senate approves YPF expropriation from Repsol

Argentina's Senate approved the expropriation of YPF from Spain's Repsol on Thursday.

26 April 2012

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