Norway's Equinor will invest up to US$ 15 billion in Brazil over the next 12 years to develop oil, gas and renewable energy sources, the company said. Coinciding with an expected drop in output from many aging oilfields off the cost of Norway, Brazil is expected to become a core region for Equinor as the firm takes advantage of the country’s opening in recent years to more foreign investment.
It is paradoxical how a country with the largest oil reserves in the world has a shortage of gasoline. Of course, Venezuela does not produce gasoline as such, but sells crude oil and imports gasoline, so with the sanctions imposed by various nations and the very crisis that PDVSA (State Company) suffers - which according to the unions works approximately 13% of its capacity- complicate the problem.
By Robert Bensh of Oilprice.com - There is only one certainty in Ukraine: The energy sector must and will be transformed, and how long this takes will depend on who ends up in the driver's seat and how serious they are about becoming a part of Europe and reducing dependence on Russia. But by then, investors will have missed the boat.
Qatar’s leading corporation Qatargas has signed an agreement with Argentina’s government owned oil and gas company, ENARSA for the long-term supply of liquefied natural gas (LNG).
Argentina’s oil corporation YPF signed a purchase option for 54.67% of the British Gas controlled GASA group that is the country’s largest distributor of gas. The purchase option expires August 31.
Seven days of protests and demonstrations, widespread international coverage, and dramatic warnings of violence in the Magallanes Region took their toll on the tourism industry in southern Chile’s Punta Arenas.
The Governor of Tierra del Fuego announced on Radio 10 that they are awaiting the results of the meetings taking place in Chile to resolve the conflict in Punta Arenas which is affecting Argentine tourists.
Vladimiro Mimica, Mayor of Punta Arenas, expressed that the measures taken by Sebastián Piñera’s government to invoke the Security Law in order to stop protests in Magallanes due to gas price hikes were “an overaction and inopportune”.
THE announcement today by the organisers of the general strike in the Magallanes Region of Chile that there will be some “flexibility” in the road blocks currently in place outside the city of Punta Arenas will no doubt cause some easing of the pressure on the Chilean President to find a solution.
The cold wave in Argentina has killed at least five people, forced the closure of highways and left most of industry short of gas given the soaring residential consumption.