Energy & Oil

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• Friday, March 8th 2019 - 08:44 UTC

  Major blackout in Venezuela; Caracas in complete darkness: “light will return when Maduro is removed”

  

  Most of Venezuela has been hit by a continuing electricity blackout that began on Thursday afternoon. The power cut plunged the capital Caracas into almost complete darkness during rush hour and has extended to the vast majority of the country.