Energy & Oil

• Tuesday, December 12th 2017 - 10:47 UTC

  Mexico and Brazil compete for investors in deepwater projects

  

  Mexican national oil company Pemex blamed the cancellation of a potentially lucrative deepwater Gulf of Mexico project on weak investor appetite due to competition from recent auctions in Brazil and low oil prices. Mexico’s oil regulator canceled a tender to pick an equity partner for Pemex’s Nobilis-Maximino project, as company interest was not as robust as expected.

• Thursday, December 7th 2017 - 09:01 UTC

  Mercosur and EU confident a framework agreement will be announced this month

  

  Mercosur is confident a framework agreement with the European Union will be announced next week despite resistance from farmers in Europe to permit tariff-free beef imports, a Mercosur official said. “There is more than a 70% chance of reaching a deal,” said the official close to the negotiations that have dragged on for almost two decades.

• Tuesday, December 5th 2017 - 14:01 UTC

  Brazil opens areas for exploration and production of oil and gas

  

  Brazil's National Agency for Oil, Natural Gas, and Biofuels (ANP) announced the areas for the exploration and production of oil and natural gas to be made available as part of a new, permanent-offer system. The move covers 846 blocks of 13 sedimentary basins, adding up to some 285,400 square kilometers.

• Friday, December 1st 2017 - 06:42 UTC

  Argentina as G20 chair will combat protectionism, pledges president Macri

  

  President Mauricio Macri hosted the official launching of the Argentine chair of G20, the world’s major forum for global economic, political, and financial cooperation. In his inaugural speech Macri said Argentina is committed ”to build consensus for fair and sustainable development” and will use its role as the first South American country to chair the G20 group of major economies to combat protectionism.

• Tuesday, November 28th 2017 - 09:21 UTC

  Total begins oil production in the giant Libra field in Brazil's pre-salt zone

  

  The giant Libra field in Brazil’s pre-salt zone has started producing oil, French Total said on Monday without providing details about the production rate at the field.

• Monday, November 27th 2017 - 12:03 UTC

  Canada's PentaNova Energy signs farm-in agreement with YPF in Neuquen basin

  

  Canadian exploration and production company PentaNova Energy announced it signed a final farm-in agreement with Argentine energy company YPF for a further 11% stake in the Llancanelo oilfield, reports Buenos Aires media.

• Wednesday, November 22nd 2017 - 15:39 UTC

  London lobbied successfully in Brazil on behalf of British oil industry, claims The Guardian

  

  Britain successfully lobbied Brazil on behalf of BP and Shell to address the oil giants’ concerns over Brazilian taxation, environmental regulation and rules on using local firms, government documents reveal, according to a piece published in The Guardian.

• Friday, November 17th 2017 - 08:03 UTC

  Petrobras counts on pre-salt production to compete with a boom in US shale output

  

  Brazil's low-cost oil will help Petrobras compete in a tough market as it seeks to turn around its business, Pedro Parente, CEO of the state-owned oil giant anticipated. Oil majors such as Exxon, Mobil, BO, Royal Dutch Shell, Total and Statoil have been snapping up blocks in the Atlantic Ocean off the coast of Brazil that hold crude under thousands of meters of salt.

• Thursday, November 16th 2017 - 19:09 UTC

  Petrobras shares plunge after disappointing third quarter earnings

  

  Shares of Brazil’s Petrobras plunged 7.8% on Tuesday a day after the state-controlled oil company reported disappointing third-quarter earnings. The company also announced that during October oil production remained stable but gas was down 1.5%

• Thursday, November 16th 2017 - 19:01 UTC

  October inflation in Argentina reaches 1.5% and 19,4% in ten months

  

  Argentina’s consumer prices rose 1.5% in October, government statistics agency Indec said on Tuesday, bringing 10-month inflation to 19.4%. It was the second month in a row that cumulative inflation for 2017 was above the upper band of the central bank’s target range for inflation, between 12% and 17% this year. Private sector economists expect inflation of 23% this year and 16% in 2018.