Energy & Oil

• Thursday, March 6th 2025 - 10:58 UTC

  CABA: Electricity supply restored gradually but “complicated” days ahead

  

  Although the electricity supply resumed gradually in the Buenos Aires Metropolitan Area (AMBA) starting at around 3 pm, “complicatted” days lie ahead given the scorching heat that boosts demand to operate air conditioning equipment. By Wednesday afternoon, service began to be restored to 70% of households, but some 196,000 users were estimated to still be without power after two massive blackouts.

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• Wednesday, March 5th 2025 - 20:11 UTC

  Buenos Aires under second mass blackout in a day

  

  A second massive blackout hit the Autonomous City of Buenos Aires (CABA) and parts of the so-called Buenos Aires Metropolitan Area (AMBA) Wednesday after a first outage at 5:50 am affected some 550,000 Edesur users in the neighborhoods of Balvanera, Barracas, Boedo, Caballito, La Boca, Monserrat, Parque Patricios, Recoleta, Retiro, and San Nicolás as well as in the municipalities of Avellaneda, Berazategui, Lanús, Lomas de Zamora, and Quilmes, bordering the country's capital. Edelap, the energy distribution company of La Plata, was also affected.

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• Sunday, March 2nd 2025 - 10:46 UTC

  Falklands, new energy vision should reach 100% renewable by 2045

  

  A new vision for how the Falkland Islands will achieve its energy ambitions has been approved by Executive Council. The new Energy Strategy and Implementation Plan outline the path for the Falkland Islands to reach 100% renewable energy provision by 2045.

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• Saturday, March 1st 2025 - 21:19 UTC

  Falklands’ oil company convenes shareholders for fundraising initiative

  

  Borders & Southern Petroleum plc (AIM: BOR), the oil and gas company focused on the Falkland Islands, announced the upcoming General Meeting to seek shareholder approval for its fundraising initiative. The meeting is scheduled for March 21, 2025, at the offices of Wedlake Bell LLP in London.

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• Thursday, February 27th 2025 - 13:20 UTC

  Deaths and robbery reported during Chile's blackout

  

  As Chile's electricity supply gradually went back to normal Wednesday, one death and an armed robbery were reported following Tuesday's 10-hour blackout resulting in a nationwide curfew.

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• Thursday, February 27th 2025 - 10:34 UTC

  Trump ends Biden's oil concessions to Venezuela

  

  US President Donald Trump has revoked the oil concessions granted to Venezuela by his predecessor, Joseph Biden, due to non-compliance with electoral conditions and lack of cooperation in the process of deporting “violent criminals,” it was announced in Washington DC. This decision impacts Chevron's operations in Venezuela, which were authorized by Biden in 2022.

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• Thursday, February 27th 2025 - 10:29 UTC

  Petrobras' 2024 profits below those attained the year before

  

  Brazil's State-owned oil company Petrobras activities yielded R$36.6 billion (US$7.5 billion) in profits last year, according to a report released Wednesday in Brasilia. However, these figures are below 2023's performance, when the company recorded a net profit of R$124.6 billion (US$24.9 billion), the exchange rate variation in debts between Petrobras and its subsidiaries abroad playing a key role in these results.

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• Wednesday, February 26th 2025 - 10:59 UTC

  Nationwide curfew decreed in Chile amid mass blackout

  

  About 98% of Chile's population was left Tuesday without electricity, prompting President Gabriel Boric Font to decree a curfew between 10 pm to 6 am Wednesday with 3,000 troops deployed nationwide. The outage began at 3.16 pm after a failure in an ISA InterChile transmission line between Vallenar and Coquimbo, causing a chain reaction that disconnected key parts of the national grid. Boric said the incident was “intolerable,” and vowed to hold the subsidiary of Colombia’s ISA accountable.

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• Tuesday, February 25th 2025 - 15:20 UTC

  Petrobras orders four homebuilt tankers

  

  Brazil's State-run oil company Petrobras and its subsidiary Transpetro Monday signed a contract for the building of four Handy-class tankers, each costing US$ 69.5 million, with a total investment of US$ 278 million. The new ships will become a part of Petrobras' Fleet Renewal and Expansion Program. The ceremony in Rio Grande do Sul was attended by President Luiz Inácio Lula da Silva, Vice-President Geraldo Alckmin, and other officials.

• Thursday, February 20th 2025 - 18:03 UTC

  Bolivian official warns against disinformation regarding lithium contracts

  

  Bolivia's Vice Minister of Communication Gabriela Alcón said this week that spreading misinformation about lithium contracts would result in delays to the mineral's industrialization in her country. She also underlined the importance of transparent communication about the documents currently being negotiated, which are beneficial for the state and involve a small portion of the nation's salt flats. Contracts with Russia's Uranium One Group and China's CBC from Hong Kong are expected to yield significant amounts of lithium carbonate, with investments totaling over US$ 2 billion.