Officials from Brazil's state-run oil company, Petrobras and the government on Thursday confirmed they are studying a fuel price increase to help offset the costs of fuel sector investments.
Argentina’s head of organized labour confederation CGT, Hugo Moyano came on stage Thursday afternoon to announce the end of the national strike led by the Teamsters’ union.
Argentina is on the verge of a possible oil national and gas shortage within the next few hours as the teamsters three day strike knocks out refineries distribution in spite of the government’s decision to fine the union and file charges against the leaders of the mobilization.
Colombia which has become South America’s third- largest crude supplier, is speeding environmental permits for oil companies as delays threaten to derail an output target of 1 million barrels a day this year, the nation’s regulator said.
Brazilian bank Itaú Unibanco purchased a 3.6% stake in Argentina’s nationalized oil company YPF, an operation involving 157.8 million dollars.
The technical teams of Argentine nationalized hydrocarbon companies YPF and Russia’s Gazprom will begin to do joint work in the area, said Foreign Minister Héctor Timerman
Carlos Slim Domit, son of tycoon Carlos Slim who recently acquired 8.4% of the shares of YPF oil company, confirmed on Monday that their arrival “was not a share purchase but the exercise of a financial guarantee,” which they have been working on in the last four years.
Brazil's state-led oil company Petrobras is likely to struggle to find the cash to pay the recently announced world's largest corporate investment program. The country needs money to pay hundreds of ships and dozens of oil fields, drill-rigs and platforms it wants in order to catapult Brazil into the ranks of the world's top-four oil producers by 2020.
Chile's state-owned oil and gas company ENAP, Empresa Nacional del Petroleo, recovered the Southern Argentine concession revoked in March by Chubut province, when the dispute over YPF, ENAP said in a statement Friday.
The family of Mexican billionaire Carlos Slim owns 8.4% of YPF shares, Argentina's recently re-nationalized oil and gas company said in a filing with the US Securities and Exchange Commission on Thursday.