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Montevideo, March 29th 2024 - 13:14 UTC

Tag: oil price

  • Tuesday, September 11th 2018 - 08:13 UTC

    Argentina raises 17% price of biodiesel used in domestic fuel mixes

    The government sets the price of domestic biofuels, and mandates diesel fuel mixes sold in Argentina contain 10% biodiesel

    Argentina raised the price of biodiesel used in domestic fuel mixes in response to a sharp devaluation in the Peso currency and new taxes on primary exports, the government said in its official gazette on Monday.

  • Friday, August 31st 2018 - 08:22 UTC

    BP, Shell, Total to bid in Brazil's pre-salt auction

    Brazil is offering four blocks in this auction—Saturno, Titã, Pau-Brasil, and Sudoeste de Tartaruga Verde—in the Campos and Santos basins

    Brazil’s oil regulator ANP has approved the applications of six companies—including Big Oil’s BP, Shell, and Total—to bid in next month’s oil auction of four blocks in the coveted pre-salt layer, ANP announced on Wednesday.

  • Wednesday, August 22nd 2018 - 08:49 UTC

    Oil price war to begin: Saudi Arabia and Iran reignites the market

    Iran has slashed its official selling prices (OSPs) for all grades to all markets for September, looking to monetize what could be its last oil sales to some markets

    The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil.

  • Saturday, July 28th 2018 - 15:27 UTC

    Strong Dollar could cap oil prices

     The problem for many emerging markets is that oil prices have been going up at the same time. Typically, oil prices trade inversely to the U.S. dollar

    By Irina Slav for Oilprice.com - The strength of the U.S. dollar poses an obstacle to further gains in oil prices. President Trump's trade war with China, which is still in its early stages, has already battered the Yuan.

  • Saturday, July 14th 2018 - 07:48 UTC

    Venezuela’s oil crisis gets worse: Production keeps falling

    The problems plaguing Venezuela’s oil industry are well-publicized, but the situation continued to deteriorate in June

    Venezuela’s oil production plunged by another 47,500 barrels per day (bpd) in June, compared to a month earlier. An exodus of workers and field shut downs were reported for the month, pointing to a grim near-term future that could see total production dip below 1 million barrels per day (mb/d) by the end of the year.

  • Friday, July 6th 2018 - 08:16 UTC

    The new oil cartel threatening OPEC

    China and India account for 17% of global oil consumption and they are the ones that would be the hardest hit if prices rise as a result of OPEC's actions.

    When reports emerged that India and China are in talks about forming an oil buyers' club, OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. Now, it may be time for it to start worrying.

  • Wednesday, May 30th 2018 - 08:58 UTC

    Truckers union calls an end to the crippling strike, but some still resist

    The call by the National Confederation of Autonomous Transporters was a sign that the 9-day strike was starting to wind down despite sporadic blockages

    One of the main unions behind a crippling truckers' strike in Latin America's largest nation on Tuesday called on its members to return to work, warning that failing to do so would erode hard-won gains.

  • Friday, May 18th 2018 - 08:24 UTC

    Oil hits US$ 80, its highest level since 2014; London's FTSE on new all time-high

    Higher oil prices pushed the shares of energy firms in European stock markets higher, helping London's FTSE to set a new all-time high

    Benchmark oil contract Brent North Sea hit its highest level since late 2014 on Thursday, breaching US$ 80 per barrel, with some market players predicting it could rise all the way to US$ 100. Higher oil prices, in turn, pushed the shares of energy firms in European stock markets higher, helping London's FTSE to set a new all-time high, and the Paris CAC to establish a fresh 2018 peak.

  • Monday, March 5th 2018 - 09:19 UTC

    YPF recovers from 2016 and posts full year profit of US$ 627m for 2017

    Fourth-quarter profit rose to 12 billion pesos compared with 1.8 billion pesos in the year-earlier quarter and 246 million pesos in the 2017 third quarter, the company said.

    Argentina’s state-owned oil company YPF SA posted a full-year 2017 profit of 12.7 billion pesos (US$ 627.16 million), the company said, rebounding from a 28.4 billion-peso loss in 2016.

  • Sunday, March 4th 2018 - 15:58 UTC

    Oil Market Fears: War, Default And Nuclear Weapons

    Verisk Maplecroft surveyed a long list of countries, and produced its Government Stability Index (GSI), which uses some predictive data and analysts forecasts to take stock of geopolitical risk in var

    The U.S. is one of the few areas of the world in which there is an energy investment boom underway, a development that could smooth out the uncertainties of geopolitical events around the world. At the same time, outside of the U.S., there is a deterioration of stability in many oil-producing regions, aggravating risks for both oil companies and the oil market, according to a new report.