Argentine president Cristina Fernandez de Kirchner late Friday signed a bill to expropriate a majority of shares of the country’s largest oil company, formerly controlled by Spanish giant Repsol.
Daily Archives: May 4, 2012
Crude sinks below $100
Oil tumbled 2.5% on Friday, with US crude below $100 a barrel for the first time since February, as an abrupt slow-down in US hiring soured economic sentiment and technical triggers intensified selling.
Buccaneer gets Kenai Loop OK
The City of Kenai has given Buccaneer Energy the green light to proceed with drilling operations at the Kenai Loop project in Alaska’s Cook Inlet basin.
Romania pledges shale moratorium
Romania’s new leftist government, expected to gain parliament’s backing on Monday, pledged a moratorium on shale gas exploration, throwing into question Chevron’s plans to develop the resource.
The Post and the EPA’s Perception Problem
The Washington Post’s take on the EPA, in the wake of Al Armendariz, is scathing. The Post editorial: “The most reasonable interpretation is also among the most disturbing — that Mr. Armendariz preferred to exact harsh punishments on an arbitrary number of firms to scare others into cooperating. This sort of talk isn’t merely unjust…
Canadian Natural: Oil sands inflation in check
Canadian Natural Resources, the country’s largest independent oil producer, said on Friday it is holding the line on costs as it expands in the northern Alberta oil sands, the latest producer to play down fears of a new round of hyperinflation in the region.