Energy & Oil

Tuesday, August 11th 2020 - 09:00 UTC
UK's oil industry close to collapse, says Premier Oil director; North Sea not profitable below US$ 60 a barrel

The UK's oil industry is in “crisis” as prices drop, a senior industry leader has told the BBC. Oil companies and service providers are cutting staff and investment to save money.
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Monday, August 10th 2020 - 07:55 UTC
Oil prices climbing on prospects of a stimulus deal to help US economy

Oil prices climbed in early trade on Monday, clawing back over half of Friday's losses, on hopes for a stimulus deal to shore up the U.S. economic recovery and a pledge from Iraq to deepen its crude oil supply cuts.
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Thursday, August 6th 2020 - 09:26 UTC
Brazil doubled oil exports during July

Brazilian oil exports more than doubled in July to 8.19 million tons, compared to 3.76 million tons shipped in July 2019, according to data released by the Foreign Trade Secretariat, Secex.
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Thursday, August 6th 2020 - 08:01 UTC
Petrobras opens bidding notice for the lease of Regasification Terminal in Bahia

Brazil oil giant Petrobras released a bidding notice for the lease of the Bahia LNG regasification terminal (TR-BA) and its associated facilities. The bidding will be restricted to companies accepted in the prequalification call which will follow pre-established criteria.
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Wednesday, August 5th 2020 - 07:48 UTC
Itaipú dam generates more power to help Paraguayan barges with soybeans reach the River Plate

Just over two months after completing a special outflow to increase the level of the drought-stricken Paraná River, the world largest operational hydroelectric dam, Itaipu, located on the border of Brazil with Paraguay, will increase energy production to help sailing along the huge South American water artery.
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Monday, August 3rd 2020 - 10:36 UTC
Winner of March presidential election takes office in oil-rich Guyana

Guyana's elections commission on Sunday declared opposition presidential candidate Irfaan Ali the winner of a disputed Mar 2 election, paving the way for a change in power in the newly oil-producing South American country.
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Monday, August 3rd 2020 - 09:45 UTC
Major sale of gas station network in the US for an all cash deal of US$ 21bn

Marathon Petroleum Corp sold its Speedway gas station network to 7-Eleven Inc, a subsidiary of Japan's Seven & Holdings Co, for US$21 billion in an all-cash deal, the companies said on Sunday.
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Friday, July 31st 2020 - 10:20 UTC
Lack of political stability in Guyana is delaying expected oil output

Guyana’s crude production has reached 100,000 b/d, 25% up on June, energy department director Mark Bynoe revealed even as the country continues to see an announcement on the 2 March, 2020 election results pushed further and further into the year.
Tuesday, July 21st 2020 - 08:53 UTC
Chevron buys Noble Energy in a US$ 5 billion all stock deal

Chevron said Monday it would buy Noble Energy in a US$ 5 billion all-stock deal, bolstering its shale presence as a plunge in crude prices have made assets cheaper. The deal, the largest in the U.S. energy sector this year, comes more than a year after Chevron abandoned its offer for Anadarko Petroleum, outmaneuvered by Occidental Petroleum higher bid.
Monday, July 20th 2020 - 09:30 UTC
Wind power in Brazil represents 9% of the energy matrix

Wind energy is advancing in Brazil and now represents 9% of the energy matrix the state of Ceará, northeast, ended 2018 with 2,050.5 MW of installed wind power capacity, in 80 wind farms.