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Portuguese oil-and-gas company Partex is negotiating with Spanish Repsol about gas exploration in Portugal's southern region of Algarve

Published on Sept. 20, 2012

Read Portuguese oil-and-gas company Partex is negotiating with Spanish Repsol about gas exploration in Portugal's southern region of Algarve

After the departure of German RWE, Repsol is the only holder of the blocks 13 and 14. The first change in the shareholder structure of the concessions of blocks 13 and 14, located at about 50 kilometers from the eastern coast of the Algarve, occurred early this year, when the Repsol acquired a participation of 30% of the German multinational company RWE Energy.
The Director of oil-and-gas Spanish company , Mr.Max Torres, said to Economic Daily that the was looking for new partners to share the risks and investments.
Actually, the Partex is negotiating with Repsol the entry in exploration and exploitation of natural gas in Algarve , some source close to the process ensures that negotiations are in the advanced phase.
The project in Algarve - exploration and production of natural gas - represents financial effort of about 83 million dollars (66 million euros).

YPF and PDVSA will join forces

Published on Aug. 1, 2012

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Argentina’s President Cristina Kirchner and Venezuela’s President Hugo Chávez signed a document to establish a strategic alliance between the Argentinian oil company YPF and Venezuelan PDVSA.

As the document states, the main objective of this agreement is “joint planning the hydrocarbon value chain in Bolivarian Republic of Venezuela and Republic of Argentina.”

Furthermore, it is intended to create “associations for the estate companies from both countries to optimize current projects and future projects development.”

The alliance sets “PDVSA to join oil and shale gas exploration projects in Argentina and PDVSA and YPF to take part in the in the mixed company to established in the area Ayacucho 6 of the Oniroco Oil Belt. Likewise, PDVSA will join “Transitory Business Union (UTE)”.

Argentina strengthens trade with Bolivia

Published on July 19, 2012

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Last Wednesday, Argentina signed an agreement with Bolivia to increase its natural gas imports. The imports will rise therefore from 13,600,000 cubic meters per day, to 16,300,000 cubic meters a day. Besides, thanks to this agreement signed by the Argentinian Minister of Planning Julio de Vido, although 15,900,000 cubic meters were expected to be imported next year, the actual figure will be 19,200,000.

Evo Morales and Cristina Kirchner’s Governments had already signed a contract in 2007 to raise imports. Its main objective was to reach 27.7 million cubic meters a day in the next 10 years, by 2017. Taking the recent decision into account, “the imports volume agreed in 2007 ...

Analysts expect a 15% growth in Gas Natural results

Published on Feb. 22, 2012

Read Analysts expect a 15% growth in Gas Natural results

Gas Natural Fenosa presents this Tuesday their 2011 results expecting 1.376 million euro earnings, according to the consensus of the analysts consulted by Bloomberg. These earnings would entail a 14.6% increase in regard to the 1.201 million euro of 2010.

According to the analysts, the improvement is justified by the fall of the financial expenditure as a result of the debt reduction. But the weakness of the Spanish market would weigh down the operating outcome of the gas fitter.

The company, presided by Salvador Gabarró, reduced their net profit a 0.7%, until 1.114 million euros, in the first nine months of the year, despite increasing their business turnover by a 7.2%, until 13.315 ...

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