Energy & Oil

Tuesday, April 23rd 2024 - 06:32 UTC
Namibia en route to becoming another Guyana oil discovery success story

Portugal's oil company Galp Energia shares skyrocketed on Monday after the company announced that the first phase of its exploration in the Mopane field in offshore Namibia could contain some 10 billion barrels of oil.
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Saturday, April 20th 2024 - 10:30 UTC
Energy crisis prompts new emergency declaration in Ecuador

Ecuador's President Daniel Noboa Friday issued a decree establishing yet another state of emergency due to a “serious internal commotion and public calamity” in the violence-torn South American country which is going through an energy crisis in addition to drug-trafficking gang crimes. Power cuts last up to about eight hours a day amid tight “rationing of electricity.”
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Wednesday, April 17th 2024 - 10:18 UTC
Brazil: Búzios deepwater field produces 1 billion barrels of oil in March

The Búzios Field in the Santos Basin, the largest ultra-deepwater facility of that kind worldwide, produced 1 billion barrels of oil in March, the state-owned company Petrobras announced this week, Agencia Brasil reported. Petrobras operates the field in a consortium with Pré-Sal Petróleo (PPSA) and the Chinese companies CNOOC and CNODC.
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Monday, April 15th 2024 - 23:59 UTC
Brazil and Argentina have much in common despite opposing presidents

Foreign Ministers Mauro Vieira of Brazil and Diana Mondino of Argentina met in Brasilia on Monday for talks aimed at bringing South America's two largest countries closer together, despite the opposing views of presidents Luiz Inácio Lula da Silva and Javier Milei, especially on each other.
Thursday, April 11th 2024 - 19:44 UTC
Rotating supply cuts launched as Bogotá's water reservoirs are running dry

Authorities in the capital of Colombia began rationing water on Thursday as local reservoirs were reported to be nearing alarming levels due to the El Niño phenomenon coupled with the aftermaths of global warming. It has not been ruled out that the severe drought might result as well in an energy crisis hitting some 10 million people who live in Bogotá and the surrounding areas.
Wednesday, April 10th 2024 - 19:51 UTC
Petrobras finds oil not far from Amazon River mouth

Brazil's state-owned oil company Petrobras said Wednesday it had discovered a new reservoir in the ultra-deep waters of the Potiguar Basin, in the Anhangá exploratory well, located between the states of Amapá and Rio Grande do Norte.
Tuesday, April 9th 2024 - 22:00 UTC
Disgraced former Venezuelan Oil Minister placed under arrest

Venezuelan authorities Tuesday arrested former Oil Minister Tareck El Aissami in a corruption probe after about one year at large following his resignation. When making the announcement, Attorney General Tarek William Saab said the former official intended to dent the country's economy.
Monday, April 1st 2024 - 18:44 UTC
Google to lay submarine cable between Chile and Australia

Tech giants Google plan to link Chile with Australia and French Polynesia through the Humboldt cable, which would become first direct submarine link between South America and Oceania, thus expanding the digital infrastructure of the South Pacific.
Thursday, March 21st 2024 - 22:32 UTC
Bolivia ready to launch biodiesel plant

Bolivian President Luis Arce Catacora announced that his country's first biodiesel production plant will start operating next week in Santa Cruz de la Sierra. Although some experts have doubted the project's worth, the Government said that the new undertaking would generate up to US$ 100 million in savings on fossil fuel imports. Supreme Decree 5135 authorizes the addition of up to 25% of vegetable components to conventional fuels.
Thursday, March 21st 2024 - 21:51 UTC
Despite Gaza conflict, Israel among main natural gas exporters to Egypt

Israel reported that natural gas exports from the Leviathan field to Egypt increased by 28% last year. Exports jumped from 4.9 billion cubic meters (BCM) in 2022 to 6.3 BCM in 2023.