The Norwegian oil and gas research firm Rystad Energy is predicting that Guyana's oil sector could generate annual revenue of US$15 billion and that the government would pocket most of the profit generated from the explorations.
Brazilian oil workers began a 72-hour strike on Wednesday in a new blow to President Michel Temer following a nationwide trucker protest that has strangled Latin America's largest economy for over a week. The strike affecting several rigs, refineries, plants and ports is the latest challenge for state-led oil firm Petrobras, whose shares have tumbled nearly 30% in two weeks over fears that political interference would unwind more investor-focused policies.
Petrobras and Brazil’s government are “very close” to resolving a long-running dispute over an oil-rich offshore area, a deputy minister said, dismissing concerns a fuel pricing crisis had emerged as an obstacle in talks.
Brazilian environmental agency Ibama this week rejected French oil company Total SA’s application for an environmental license to drill in the ecologically sensitive Foz do Amazonas basin. It is the fourth time that Ibama has rejected the application and requested additional information.
Striking truckers in Brazil have disrupted supplies and exports from one of the world's agricultural powerhouses, triggering the premature slaughter of millions of chickens as feed failed to reach farmers. The strike over high fuel prices has paralyzed Brazil, the top global exporter of soybeans, sugar, coffee and chicken.
On Tuesday May 29, Governor Nigel Phillips CBE addressed the elected Legislative Assembly of the Falkland Islands with a message on the State of the Nation.
A nationwide protest by Brazilian truckers was slow to unwind on Monday, even after the week-long demonstrations against diesel price hikes got the government to cave to their demands, causing stocks and the currency to slide.
Brazil's government said late Thursday that a deal had been reached with truckers to suspend a four-day-old strike that caused fuel shortages, cut into food deliveries, backed up exports and threatened airline flights.
China will import record volumes of U.S. oil and is likely to ship more U.S. soy after Beijing signaled to state-run refiners and grains purchasers they should buy more to help ease tensions between the two top economies, trade sources said on Wednesday.
Petrobras on Wednesday temporarily cut diesel prices by 10% in order to help the Brazilian government and truck drivers resolve a protest crippling highways.