Energy & Oil

Thursday, September 16th 2021 - 09:20 UTC
Beijing releases oil from its strategic reserve to stabilize China's market and guarantee energy security

By Irina Slav for Oilprice.com – China made headlines last week with the news that it was going to release some crude oil from its strategic petroleum reserve and sell it in a move Bloomberg called “an unprecedented intervention.”
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Thursday, September 2nd 2021 - 09:32 UTC
OPEC and Russia keep steady on original plan; ignore US request to pump more oil

The Organization of Petroleum Exporting Countries plus a group led by Russia, OPEC+1 ignored requests from United States president Joe Biden and agreed on Wednesday to continue raising oil output in measured steps as originally agreed.
Tuesday, August 31st 2021 - 09:50 UTC
Price of fuel goes down in Uruguay as of September

The Government of Uruguay Monday announced a small reduction in the price of fuel at pumps due to the use -for the first time- of the new Import Parity Price (PPI) adjustment formula devised by the current administration.
Thursday, August 26th 2021 - 08:21 UTC
Bolsonaro mandates Brazilian federal gov't agencies to cut down electricity consumption

Brazil's President Jair Bolsonaro has issued a decree ordering all federal agencies to cut down electricity consumption between 10 and 20% from September to April 2022, in the face of an unprecedented shortage in supply from less expensive sources.
Monday, August 23rd 2021 - 09:50 UTC
One dead and many missing as Pemex offshore plant explodes in Gulf of Mexico

Six people were initially reported injured and taken to hospitals in nearby Campeche Sunday after a Petroleos Mexicanos (Pemex) offshore platform in the Gulf of Mexico was set ablaze following an explosion.
Monday, August 23rd 2021 - 09:10 UTC
Uruguay: Corruption allegations in failed pet project of former president Mujica

A major corruption scandal is unfolding in Uruguay with a pet project from former president Jose Mujica, which he tried to implement during his mandate, 2010/2015, but failed with accumulated losses of at least US$ 300 million.
Friday, August 20th 2021 - 14:09 UTC
Brazil interested in buying gas from Argentina's Vaca Muerta

Brazilian President Jair Bolsonaro Thursday announced in his weekly broadcast on social media that his country had started negotiations to purchase gas from Argentina's Vaca Muerta. “It is not easy to start importing gas, creating, building pipelines,” Bolsonaro said.
Tuesday, August 17th 2021 - 20:45 UTC
Brazil tempted by the success of the Suriname and Guyana oil basin developments

Exploration and development of oil and gas resources in the ex Dutch colony of Suriname, now an independent country, was the main point of the agenda addressed by Brazilian foreign minister Carlos Franca and his Surinamese peer Albert Randim, during a meeting held in Brasilia.
Monday, August 9th 2021 - 09:00 UTC
Bolsonaro fights back fall in opinion polls: promises free LPG bottles to low income families

Brazilian president Jair Bolsonaro is fighting back his collapse in public opinion polls ahead of next year's what seems certain his reelection bid, by reaching out to what he once described as corrupt political parties and system, but also with more handouts to the vulnerable population.
Tuesday, August 3rd 2021 - 06:21 UTC
Brazil's Azul signs a one billion dollars deal with German manufacturer for 220 VTOL taxi aircraft

Azul, Brazil's third-largest airline announced on Monday a one billion dollars accord with German manufacturer Lilium for the purchase of 220 of VTOL electric aircraft scheduled to begin operating in 2025.