Britain successfully lobbied Brazil on behalf of BP and Shell to address the oil giants’ concerns over Brazilian taxation, environmental regulation and rules on using local firms, government documents reveal, according to a piece published in The Guardian.Add your comment!
Brazil's low-cost oil will help Petrobras compete in a tough market as it seeks to turn around its business, Pedro Parente, CEO of the state-owned oil giant anticipated. Oil majors such as Exxon, Mobil, BO, Royal Dutch Shell, Total and Statoil have been snapping up blocks in the Atlantic Ocean off the coast of Brazil that hold crude under thousands of meters of salt.1 comment
Shares of Brazil’s Petrobras plunged 7.8% on Tuesday a day after the state-controlled oil company reported disappointing third-quarter earnings. The company also announced that during October oil production remained stable but gas was down 1.5%2 comments
Argentina’s consumer prices rose 1.5% in October, government statistics agency Indec said on Tuesday, bringing 10-month inflation to 19.4%. It was the second month in a row that cumulative inflation for 2017 was above the upper band of the central bank’s target range for inflation, between 12% and 17% this year. Private sector economists expect inflation of 23% this year and 16% in 2018.1 comment
The new Legislative Assembly of the Falkland Islands has been announced, following the General Election which concluded on Thursday 9th November.1 comment
Argentina's state-run oil company YPF is disappointed by cuts to the government's natural gas production subsidies and will re-allocate investment toward crude oil production.
Oil settled lower on Tuesday after rising to the highest since July 2015 the previous day, while tension flared between Saudi Arabia and Iran, and the Saudi crown prince tightened his grip on power.
Mexico’s national oil company Pemex has made its biggest onshore oil discovery in 15 years with a find in the eastern state of Veracruz, President Enrique Peña Nieto announced. Pemex made the discovery by drilling its onshore Ixachi well, near the municipality of Cosamaloapan and the overall field is believed to hold some 350 million barrels of proven, probable and possible reserves.
By Nick Cunningham of Oilprice.com - On a historic auction for deepwater oil assets in Brazil, the oil majors showed up on October 27 and bought several offshore blocks, indicating a high level of interest in the country after a major policy overhaul allowed private investment.
Argentina's state-controlled energy company YPF has unveiled a US$ 30bn five-year investment plan to boost oil production and sharpen its focus on electric power generation. Some US$21.5bn will come from YPF's own coffers, with the remainder to be sourced from its project partners, the company said in a statement on Wednesday.