Energy & Oil

Tuesday, March 19th 2019 - 08:17 UTC
 Brazil's Vale iron ore miner ordered to suspend operations in two more dams

Brazilian court has ordered Vale SA, the world's largest iron ore miner, to suspend operations at two more dams, demanding that it prove the structures are stable. The court decision dated Friday is the latest in a series of orders forcing Vale to halt operations at various dams that contain the muddy detritus of mining operations after one such barrier collapsed in January, killing some 300 people.
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Saturday, March 16th 2019 - 09:56 UTC
China and Argentina resume talks for the construction of a nuclear power plant

A delegation from China will visit Argentina this month to discuss the construction of a nuclear power plant, signaling possible progress in a deal that could increase Beijing’s deepening influence in Argentina. Accordingly, the “technical team” from China would meet local suppliers about the long-stalled nuclear power plant project, reportedly worth up to US$8 billion.
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Saturday, March 16th 2019 - 09:21 UTC
Venezuelan continued oil fallout presents a challenge for global markets, says IEA

A major advisor to energy producing nations has suggested that the continued fallout from Venezuela could present a “challenge” for global oil markets. The International Energy Agency (IEA) has warned that crude supplies from Venezuela are at risk of falling sharply in the midst of an electricity crisis which has paralyzed the country recently.
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Thursday, March 14th 2019 - 09:12 UTC
Union halts operations at Argentina's biggest gold mine

A strike at Canadian Goldcorp Inc’s Cerro Negro mine in Argentina has forced a halt to operations, the company said on Tuesday, calling the union’s action at its biggest mine illegal. Mining activities stopped when the strike by the Asociacion Obrera Minera Argentina (AOMA) union began on March 8, and processing is also now halted as surface stockpiles have run out, Vancouver-headquartered Goldcorp said in a statement.
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Thursday, March 14th 2019 - 07:53 UTC
Beijing offers to help Venezuela restore its power grid

China offered on Wednesday to help Venezuela restore its power grid after President Nicolas Maduro accused U.S. counterpart Donald Trump of cyber “sabotage” that plunged the South American country into its worst blackout on record.
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Wednesday, March 13th 2019 - 08:34 UTC
Shell agrees offshore oil exploration contracts in Colombia

Colombia’s government announced it had signed two exploration and production contracts with Shell in offshore areas of the Caribbean Sea that will require the company to make initial investments of US$ 100 million.
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Wednesday, March 13th 2019 - 08:27 UTC
Argentina boosting natural gas output and plans pipeline to supply Buenos Aires

Argentina’s efforts to boost its natural gas output and supply are progressing through new pipeline and transport projects and auctions, moves that are expected to balance the country’s production and demand, the energy secretary said on Monday.
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Saturday, March 9th 2019 - 09:26 UTC
Venezuela comes to a halt as the blackout extends for a second day

Venezuela shut schools and suspended the workday on Friday as the worst blackout in decades paralyzed most of the troubled nation for a second day, spurring outrage among citizens already suffering from hyperinflation and a crippling recession.
Saturday, March 9th 2019 - 08:57 UTC
World's largest sovereign fund, belonging to Norway, diversifying from oil

Norway's US$ 1 trillion sovereign wealth fund is expected to sell some of its oil and gas holdings. The world's largest sovereign wealth fund owns US$ 37bn of shares in oil companies such as BP, Shell and France's Total.
Friday, March 8th 2019 - 09:11 UTC
Premier Oil reports 2018 profit as a result of record production

UK-based oil and gas firm Premier Oil with interests in the Falkland Islands has announced its full-year results for 2018, reporting a post-tax profit hike to US$ 133.4m as a result of record production. These full-year results are a ‘return to profitability’ from 2017’s full-year loss of US$ 253.8m.