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Policy & Regulation

Peru to invest $80 bln in mining and gas projects

Peru will invest $80 billion in mining and gas projects over the next five years, Luis Miguel Castilla, the country’s minister of economy and finance, said on Monday.

15 May 2012
Exploration & Production

OGX Petroleo e Gas declares Tubarao Azul field commercially viable

Brazilian independent OGX Petroleo e Gas declared its Tubarão Azul offshore oil field to be commercially viable on Monday, Reuters reported.

15 May 2012
Global Markets

Panama seeking Trinidad LPG to reduce fuel subsidy

Panama is seeking the LPG of Trinidad and Tobago's to help reduce its $98 million heating and cooking fuel subsidy, according to the Trinidad Express.

15 May 2012
Exploration & Production

BP’s Trinidad and Tobago strategy appears gas-focused

BP said on Tuesday that it was considering further blocks in Trinidad and Tobago after signing two production sharing contracts (PSCs) for oil and gas exploration from the 2011 deepwater bid round.

15 May 2012
Exploration & Production

Chile ramps up exploration drilling

Chile, a minnow among Latin American gas producers, has awarded five new exploration blocks in Patagonia as Santiago attempts to replicate the drilling successes of neighbouring Argentina.

14 May 2012
Exploration & Production

Mexican violence hits the night shift at Burgos Basin

Night shifts at Mexico’s largest gas basin, Burgos, have been suspended because of ongoing violence in the region, according to a lawmaker.

14 May 2012
Global Markets

Santa Cruz lawmakers want former Repsol concessions returned to province

Lawmakers in Argentina's Santa Cruz province have proposed a bill saying that concessions taken from energy company YPF should be returned now that it is no longer controlled by Spain's Repsol.

14 May 2012
Companies & Finance

Will Gazprom find a home in the Latin sun?

Gazprom is looking beyond the usual crew of political sympathisers for opportunities in Latin America. But is it good business, or just good diplomacy?

11 May 2012
Exploration & Production

Production at Brazil’s fated Frade field rebounds in April

Oil production from Brazil’s offshore Frade field rebounded in April, although gas production continued to decline, according to data provided to Interfax by the country’s ANP hydrocarbons agency.

10 May 2012
Companies & Finance

Who needs YPF? Repsol turns in strong earnings

Spanish giant Repsol reported an increase in first-quarter earnings on Thursday, and said the results reflected its overall financial strength despite the expropriation of its Argentine business YPF in April.

10 May 2012
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

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