An international arbitration court has ordered Venezuela’s oil company PDVSA to pay ConocoPhillips US$ 2.04 billion for early dissolution of two joint ventures for producing oil in the OPEC-member country, the U.S. firm said.
Brazil’s Raizen Combustiveis SA agreed to buy downstream assets in Argentina from Royal Dutch Shell for US$ 950 million, according to a securities filing on Tuesday. Raízen Combustiveis, a joint venture between Brazil´s Cosan SA Indústria e Comércio and Shell, will have a 20% market share in fuel distribution in Argentina.
By Mathew Smith<br />
After being caught up in major corruption scandals and suffering from what some have claimed was its worst economic downturn in 100-years, Brazil has pulled itself back from the brink. The economy commenced growing again in 2017 with gross domestic product (GDP) expanding by 1 percent and 2018 GDP growth forecast by the International Monetary Fund (IMF) to be 2.3%.
The public prosecutor’s office in the northern state of Amapá recommended on Wednesday that Brazil’s environmental regulator Ibama deny French major Total a license to drill for oil near the mouth of the Amazon.
Argentina's icebreaker Almirante Irizar is back in Buenos Aires at the end of its first Antarctic campaign in ten years, following the fire that almost knocked the Finnish built vessel out of action. She left on 26 December and completed 107 days in the high seas and Antarctica's ice.
Brazil’s President Michel Temer named Wellington Moreira Franco to take over the Mines and Energy Ministry, a key portfolio that includes overseeing the proposed privatization of Centrais Eletricas Brasileiras SA (Eletrobras).
Over the past decade it is has become customary for a newly elected Legislative Assembly in the Falkland Islands to publish an ‘Islands Plan’. As there are no political parties in the Falkland Islands, all eight members of the Assembly are independents. Therefore there is no collective manifesto when elected to office. This has traditionally been addressed via a consensus-based Islands Plan.
The state-run energy firms of Chile and Argentina said on Wednesday they had inaugurated a US$ 354 million project to increase production of natural gas off the southern tip of South America.
Italian energy group Edison, part of French utility EDF, is preparing the sale of its oil and gas unit, the latest power producer to abandon fossil fuels to focus on its retail business, four industry sources said, and quoted by Reuters. Its oil and gas unit includes interests in the Falkland Islands.
Geoscience data for oil and gas exploration and production company, TGS said it has obtained the Brazil Southern Basins SeaSeep project in the Campos and Santos Basins, offshore Brazil.