Energy & Oil

Thursday, February 25th 2021 - 10:37 UTC
Bolsonaro praises Economy minister Guedes trying to overcome the Petrobras controversy

Brazilian President Jair Bolsonaro praised his Economy Minister Paulo Guedes as the “anchor” of his government, in an attempt to quash speculation of a deepening division between the two after Bolsonaro last week ousted Petrobras CEO triggering a plunge in markets.
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Thursday, February 25th 2021 - 08:44 UTC
Brazil reaffirms electricity provider Electobras privatization, except for nuclear plants and Itaipu dam

Brazilian President Jair Bolsonaro went to Congress to deliver a provisional measure associated with his government’s plans to privatize state-run electricity provider Eletrobras.
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Wednesday, February 24th 2021 - 08:58 UTC
Bolsonaro poised to ensure the removal of Petrobras CEO

Brazilian president seems poised to win his controversial struggle over the removal of the country's giant oil and gas company Petrobras CEO, and replacement by a former Army general. In effect, Petrobras on Tuesday called an extraordinary shareholders' meeting, a move that all but guarantees the exit of CEO Roberto Castello Branco.
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Tuesday, February 23rd 2021 - 08:11 UTC
Bolsonaro's arrogance plunges Bovespa index 4% and Petrobras shares 21%

Brazil’s benchmark Bovespa index fell more than 4% Monday following President Jair Bolsonaro's decision last week to replace the chief executive of state oil company Petrobras. The company's shares plunged more than 21% on news that the government nominated an army general with no oil and gas industry experience as its new CEO.
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Saturday, February 20th 2021 - 08:55 UTC
Half of Texas with disrupted water service; disaster declaration expected from Biden

$Biden has asked his team to expedite Texas’s request for a disaster declaration, clearing the way for more federal resources$

United States president Joe Biden announced a disaster declaration for Texas, clearing the way for more aid in a crippling winter storm. Millions of residents in the United States’ biggest oil and gas producer have dealt with power outages, and nearly half of Texans struggled on Friday with disrupted water service. Nearly two dozen deaths have been attributed to the storm and a cold snap.
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Saturday, February 20th 2021 - 08:42 UTC
Bolsonaro sacks Petrobras CEO over diesel prices dispute and truckers strike threat

Brazilian President Jair Bolsonaro on Friday sacked a market-friendly economist as CEO of Petrobras and named a retired general to replace him, following on disputes over diesel prices that threatened a major teamsters stoppage.
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Thursday, February 18th 2021 - 08:38 UTC
Blizzards and freezing temperatures leave vast areas of US without power, heat or drinking water

$Nearly 3.5 million customers around the U.S. were still without electricity, from a peak close to 100 million, and some also lost water service$

AP – Millions in the United States were preparing for another night blast of snow and ice following a day in which vast areas of states, mainly Texas has to endure frigid conditions without electricity or heat. Some thirty deaths have been reported so far.
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Wednesday, February 17th 2021 - 08:25 UTC
Good news for Chile, copper price soaring on Chinese demand

Good news for Chile. The price of the country's main export, copper, reached this week its highest international value in eight years and nine months, at US$ 3,81 the pound, according to the latest reports from the London Metal Exchange.
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Tuesday, February 9th 2021 - 09:20 UTC
YPF closer to restructuring its debt, expecting to concentrate in boosting shale deposits in Patagonia

Argentina’s state-managed oil giant expects to avoid a costly default next month after it won support for a debt swap from a large creditor group. The so-called Ad Hoc Bondholder Group, which holds 45% of YPF’s 2021 notes, expressed support for the exchange after the company increased its cash sweetener over the weekend.
Tuesday, February 9th 2021 - 08:43 UTC
Argentine oilseed crushers say they reached a deal to hold down domestic edible oil prices

Despite confusing news from Argentina following president Alberto Fernandez's announcement that he is prepared to reimpose levies on grains and oilseeds exports if food prices keep increasing, oilseed crushers said they had reached a deal with the government to hold down domestic edible oil prices.