Spanish clean energy company Acciona Energía has connected the 246MW El Romero solar plant in Atacama desert, Chile to the county’s Interconnected Central System (SIC), becoming Latin America's largest. The US$343m El Romero Solar plant features 776,000 polycrystalline silicon photovoltaic modules, spread across 280ha area in the municipality of Vallenar, 645km north of the Santiago.
Brazilian state-controlled oil company Petrobras posted an unexpected third-quarter loss after drastically reducing the value of oil fields and other assets amid a severe downsizing and weak oil prices. Petrobras lost a net 16.458 billion reais (US$4.9 billion) last quarter, five times more than a year earlier. Despite that, operational and cash flow trends improved and, without an impairment, profit could have totaled 600 million Reais, Chief Financial Officer Ivan Monteiro said.
The Falkland Islands government numbers are looking brighter than forecasted: for the first three months of the financial year (July –September), the government is showing an actual surplus of £6.407 million, compared to a estimated surplus of £2.211 million.
Petrobras will begin selling off huge “pre-salt” oil fields to raise cash for the desperate Brazilian national oil company, according to new legislation passed by Congress. Politicians in the lower house had fought against the bill, but lawmakers succeeded in pushing the bill through during a late-night session, and the vote stood at 251-22 by the end of the night.
Executives of Brazilian state oil company Petrobras and Bolivian counterpart YPFB signed this week a contract for a US$1.2 billion natural-gas exploration venture in southern Bolivia. Bolivian President Evo Morales and Brazil's minister of mines and energy, Fernando Coelho Filho, traveled to Bolivia's eastern city of Santa Cruz for the signing ceremony.
In line with the pricing policy announced by Petrobras on October 14, 2016, the company’s markets and pricing executive committee has decided to reduce the prices of diesel and gasoline sold at its refineries by 10.4% and 3.1%, respectively.The combination of a 12.1% fall in the international prices of oil and oil products between October 14 and now, and the reduction in the company’s domestic market share has impacted the usage level of Petrobras’ assets, especially its refineries, its inventory levels and also its flows of imports and exports
Venezuela's state-owned oil and natural gas company PDVSA and India have signed accords worth $1.45 billion whereby oil production is expected to increase from 430,000 barrels per day to 855,000 in less than a year. Exports in mind, there is a natiowide shortage of fuel.
The basket of crude oil used as a benchmark indicator by the Organization of Petroleum Exporting Countries dropped to $44.53, the OPEC Secretariat said on Wednesday in Vienna.
Argentina's oil company YPF and Norway's Statoil have signed a cooperation agreement to further gather information on Argentina's offshore potential. The accord was signed in Oslo between YPF CEO Ricardo Darré and Statoil Exploration vice president Tim Dodson.
The International Energy Agency said in its latest report that last year the world's capacity to generate electricity from renewable sources has now overtaken coal, and renewable accounted for more than half of the increase in power capacity.