Energy & Oil

Wednesday, February 26th 2025 - 10:15 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.
1 comment
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.
Add your comment!
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.
Add your comment!
Thursday, February 20th 2025 - 10:29 UTC
Argentina settles scores with Paraguayan side of Yacyretá

The Paraguayan side of the Yacyretá Binational Entity (EBY) admitted Wednesday that Argentina now owed nothing after paying US$ 23 million earlier this week, although certain arrangements concerning US$ 50 million were still pending. Paraguay's EBY General Manager Luis Benítez also pointed out that a financial agreement would be signed next week to set the entity's accounts straight.
Add your comment!
Wednesday, February 19th 2025 - 09:13 UTC
Brazil announces plans to join OPEC+

Brazilian authorities announced Tuesday the South American country's decision to join the Organization of 13 Petroleum Exporting Countries (OPEC) and 10 observer nations, commonly referred to as OPEC+. According to Mines and Energy Minister Alexandre Silveira, the move would in in line with Brazil's goals and would not collide with its environmental commitments. Brazil will participate in the OPEC Cooperation Charter, a forum for discussing oil market strategies without binding obligations to follow cartel policies like production cuts.
Add your comment!
Monday, February 17th 2025 - 10:19 UTC
Brazil: Offshore oil platform begins pre-salt operations

Brazilian authorities announced Saturday that the Almirante Tamandaré (Búzios 7) offshore oil production platform, the largest in the country, began operating in the Búzios Field, in the Santos Basin, around 180 kilometers off Rio de Janeiro. The platform ship can process up to 225,000 barrels of oil and 12 million cubic meters of natural gas per day.
1 comment
Thursday, February 13th 2025 - 20:17 UTC
Brazilian scientists find enzyme that can transform waste into biofuel

Scientists at Brazil's National Center for Research in Energy and Materials (CNPEM) have discovered a biocatalyst called CelOCE (Cellulose Oxidative Cleaving Enzyme) stemming from a soil bacteria, which can transform waste into biofuel. The enzyme, isolated from bacteria found in sugarcane bagasse, enhances the breakdown of cellulose, increasing glucose release by up to 21%. The study showing these findings was published Thursday in the journal Nature.
Thursday, February 13th 2025 - 13:20 UTC
Cuba going through one of its worst electricity-generation crises

Cuba has been reported to be facing severe power outages after the unexpected breakdown of the Felton 1 Thermoelectric Power Plant, worsening the situation in Havana and other parts of the island. The State-run National Electric Union (UNE) said numerous generation plants were out of service due to fuel shortages, local authorities blaming the US economic blockade for their hardships, when in reality infrastructure failures and poor maintenance to already obsolete equipment were other contributing factors. A total of 57 generation plants in the country, in addition to two floating units, were affected by the lack of fuel.
Thursday, February 13th 2025 - 01:18 UTC
Uruguay's Green Energy Success Story Takes an Unexpected Turn

Uruguay has been considered a leading country in renewable energy, with 98% of its energy eolic, but now has surprisingly has invited foreign companies to explore for offshore oil and gas reserves, attracting some of the heavy weights of he industry, which has generated certain controversy in the country regarding concerns about the impact on marine life and the potential damage to Uruguay’s current global standing. OilPrice, which specializes in the oil and gas industry information comments on the decision.
Wednesday, February 12th 2025 - 09:48 UTC
Bolivia's lithium company says deal with Chinese partners is risk-free

Yacimientos de Litio Bolivianos (YLB) Legal Manager Pablo Nina warned Tuesday that the Chinese company Hong Kong CBC has three years to extract a mineral with 99.5% purity and 80% recovery in the raw material processing or face the dismantling of its two battery-grade lithium carbonate production plants in the Uyuni salt flat and leave the country.