Energy & Oil

• Monday, August 15th 2022 - 09:47 UTC

  Three companies agree with Argentina to develop offshore Tierra del Fuego gas deposit

  

  Argentina and a consortium of three international oil companies signed an agreement by which the Fenix gas field at the San Sebastián Bay will be developed in two years time with an investment of US$ 700 million. The agreement includes a decree which reinstates benefits for the hydrocarbons industry, particularly new undertakings as contemplated in Law 19,640.

• Friday, August 12th 2022 - 02:40 UTC

  Offshore drilling on the rebound for the foreseeable future, rig providers report

  

  By Tsvetana Paraskova for Oilprice.com – After years of uncertainty and stagnation, the offshore drilling market is on the rebound and is in the early innings of an up cycle in investment and activity that will outpace the 2016-2019 cycle, major services and rig providers say. Analysts and top offshore drilling executives say that offshore rig utilization and day rates are also rising in a market that is expected to tighten going forward.

• Wednesday, August 10th 2022 - 19:38 UTC

  Brazil and Paraguay cut down energy prices at Itaipu

  

  Authorities from Brazil and Paraguay have announced a reduction in the price of energy from the binational Itaipu power plant from US$ 22.60 to US$20.75 per kilowatt.

• Tuesday, August 9th 2022 - 07:59 UTC

  UK energy prices: record number of people stole electricity last year; another hefty rise in October

  

  The energy situation is hitting UK consumers and figures released by the Home Office show that a record number of people stole electricity in England and Wales last year.

• Monday, August 8th 2022 - 21:29 UTC

  Fuel deposit fire in Cuba reaches 4th day - one firefighter dies

  

  A gruesome fire in Cuba has reached its fourth day. A fuel deposit has been burning since Friday in Matanzas, in western Cuba, in what has already been described as the biggest industrial disaster in the country's history.

• Saturday, August 6th 2022 - 11:38 UTC

  Germany resurrecting nuclear, oil and coal powered plants to replace Russian gas

  

  With the Ukrainian war still raging and making arrangements ahead of next winter, Germany despite its original pledges and with a coalition that includes the Green party, Chancellor Olaf Scholz has admitted for the first time that the country could put off the retirement of its nuclear power grid.

• Monday, August 1st 2022 - 20:56 UTC

  Brazilian customers have bought over 100,000 electric vehicles

  

  The Brazilian market of battery-powered vehicles has crossed the psychologically relevant threshold of 100,000 units in circulation nationwide, as sales of this type of vehicle grew 47% yoy in the first semester of 2022, it was reported.

• Thursday, July 28th 2022 - 09:23 UTC

  Brazilian oil sales to China and India drop significantly as Russia moves in

  

  Brazil oil sales to India and China in the first half of 2022 have fallen considerably, amid the Ukraine war and a significant increase in crude exports from Russia to the two Asian countries.
  According to data from Brazil’s Foreign Trade Secretariat (Secex), in the first half of the year, Brazil exported 36% less oil to China than in the same period last year. Likewise exports to India fell 53.8%.

• Wednesday, July 27th 2022 - 09:32 UTC

  Falklands extends oil licenses two years for farm-in Rockhopper/Navitas accord

  

  Positive news for Falklands' oil industry development. All regulatory consents for the transaction between Harbour Energy plc and Israel's Navitas Petroleum LP of its Falkland Islands offshore license interests have been approved by the Falkland Islands government and the United Kingdom minister of state.

• Tuesday, July 26th 2022 - 10:38 UTC

  Petrobras output down in second quarter Bolsonaro confident his friend Putin will supply him with diesel fuel

  

  Oil exports by Brazilian energy giant Petrobras fell by 28.5% in the second quarter of 2022, to 531,000 barrels per day (b/d), compared to the same period a year ago, the company said in its quarterly production and sales report. The news comes when the country is looking for cheaper opportunities to import diesel fuel from countries currently free of sanctions.