Energy & Oil

• Thursday, August 30th 2018 - 09:10 UTC

  Argentina aims to double shale gas production in five years

  

  Argentina re-launched a one-year-old agreement between the government, companies and workers to drive competition and spur development in the Vaca Muerta shale play, the government said in a statement.

• Sunday, August 26th 2018 - 18:50 UTC

  Tankers with US diesel diverted to Brazil following a fire in a Sao Paulo refinery

  

  At least four tankers loaded with ultra-low-sulfur diesel (ULSD) en route from the U.S Gulf Coast to Europe abruptly changed course this week to Brazil, following a fire at a 415,000-bpd refinery of state oil firm Petrobras on Monday, S&P Global Platts trade flow data showed on Friday.

• Thursday, August 23rd 2018 - 08:33 UTC

  First container vessel attempting the melting Arctic sea route north of Russia

  

  Danish vessel setting sail from Vladivostok this week is set to become the first container ship to tackle the Arctic sea route north of Russia. The Venta Maersk, owned by Maersk Line, and carrying 3,600 containers, hopes to reach St Petersburg by late September. That could be up to 14 days faster than the southern route via the Suez Canal.

• Wednesday, August 22nd 2018 - 08:49 UTC

  Oil price war to begin: Saudi Arabia and Iran reignites the market

  

  The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil.

• Monday, August 13th 2018 - 18:53 UTC

  Venezuela appealing US$ 1.4bn compensation ruling, threatening Citgo

  

  Venezuelan state oil company PDVSA is appealing a decision allowing Canadian miner Crystallex to take control of shares in U.S. subsidiary PDV Holdings as part of a 10 year dispute over the state takeover of Crystallex assets, a court filing shows.

• Monday, August 13th 2018 - 07:19 UTC

  UK embassy supporting program to help Brazil's energy goals

  

  As part of the UK Government’s Prosperity Fund, the British Embassy in Brazil is commissioning a study to assess various options for the governance structure of an Energy Centre to inform and support the Prosperity Fund Energy Program.

• Thursday, August 9th 2018 - 08:40 UTC

  Venezuela oil exports avoid seizures with tankers' transfers at sea and operating from Cuba

  

  Venezuela’s state-run oil company PDVSA has limited the damage from an unprecedented slump in crude exports by transferring oil between tankers at sea and loading vessels in neighboring Cuba to avoid asset seizures. But Venezuela is still fulfilling less than 60% of its obligations under supply deals with customers.

• Saturday, August 4th 2018 - 11:41 UTC

  Petrobras profits soar thirty fold in the second quarter helped by rising oil prices

  

  Brazil’s Petrobras benefited from the rising oil prices and booked a thirty-fold yearly jump in its second-quarter net income, which also beat analyst expectations.

• Thursday, August 2nd 2018 - 08:04 UTC

  Power outages in Venezuela turn once rich cities into ghost towns

  

  The state of Zulia, the historic heart of Venezuela’s energy industry that was for decades known for opulent oil wealth, has been plunged into darkness for several hours a day since March, sometimes leaving its 3.7 million residents with no electricity for up to 24 hours.

• Wednesday, August 1st 2018 - 08:18 UTC

  Brazil investigating collusion and price fixing at the fuel pump: largest distributors targeted

  

  Brazil’s three largest fuel distribution companies are under investigation for fixing prices at the pump, police said on Tuesday, reigniting debate over potential collusion among gas station owners in Latin America’s largest oil producer.