Energy & Oil

Saturday, February 20th 2021 - 08:55 UTC
Half of Texas with disrupted water service; disaster declaration expected from Biden

$Biden has asked his team to expedite Texas’s request for a disaster declaration, clearing the way for more federal resources$

United States president Joe Biden announced a disaster declaration for Texas, clearing the way for more aid in a crippling winter storm. Millions of residents in the United States’ biggest oil and gas producer have dealt with power outages, and nearly half of Texans struggled on Friday with disrupted water service. Nearly two dozen deaths have been attributed to the storm and a cold snap.
Saturday, February 20th 2021 - 08:42 UTC
Bolsonaro sacks Petrobras CEO over diesel prices dispute and truckers strike threat

Brazilian President Jair Bolsonaro on Friday sacked a market-friendly economist as CEO of Petrobras and named a retired general to replace him, following on disputes over diesel prices that threatened a major teamsters stoppage.
Thursday, February 18th 2021 - 08:38 UTC
Blizzards and freezing temperatures leave vast areas of US without power, heat or drinking water

$Nearly 3.5 million customers around the U.S. were still without electricity, from a peak close to 100 million, and some also lost water service$

AP – Millions in the United States were preparing for another night blast of snow and ice following a day in which vast areas of states, mainly Texas has to endure frigid conditions without electricity or heat. Some thirty deaths have been reported so far.
Wednesday, February 17th 2021 - 08:25 UTC
Good news for Chile, copper price soaring on Chinese demand

Good news for Chile. The price of the country's main export, copper, reached this week its highest international value in eight years and nine months, at US$ 3,81 the pound, according to the latest reports from the London Metal Exchange.
Tuesday, February 9th 2021 - 09:20 UTC
YPF closer to restructuring its debt, expecting to concentrate in boosting shale deposits in Patagonia

Argentina’s state-managed oil giant expects to avoid a costly default next month after it won support for a debt swap from a large creditor group. The so-called Ad Hoc Bondholder Group, which holds 45% of YPF’s 2021 notes, expressed support for the exchange after the company increased its cash sweetener over the weekend.
Tuesday, February 9th 2021 - 08:43 UTC
Argentine oilseed crushers say they reached a deal to hold down domestic edible oil prices

Despite confusing news from Argentina following president Alberto Fernandez's announcement that he is prepared to reimpose levies on grains and oilseeds exports if food prices keep increasing, oilseed crushers said they had reached a deal with the government to hold down domestic edible oil prices.
Friday, February 5th 2021 - 12:39 UTC
Argentine oil and gas activity picking up in Vaca Muerta shale deposits

$The number of frac stages in Vaca Muerta rose 39% to 662 in January from 477 in November$

Fracking activity in Vaca Muerta, Argentina shot up in January to its highest level in 17 months, according to the Argentine unit of Houston-based services company NCS Multistage.
Friday, February 5th 2021 - 08:57 UTC
Mining giant Vale signs US$ 7bn settlement deal over Brumadinho disaster that killed more than 270 people

Brazilian mining giant Vale signed a settlement deal on Thursday to pay 37.7 billion reais (US$ 7 billion) to the state of Minas Gerais, following the collapse of a dam two years ago that devastated the city of Brumadinho and killed more than 270 people.
Thursday, February 4th 2021 - 09:32 UTC
Brazil ends the Car Wash anti corruption unit, which sent top politicians and business leaders to jail

Brazil’s Car Wash anti-corruption unit has officially been disbanded putting an end for a team of prosecutors that sent dozens of Brazilian and regional political and business leaders to jail, including several former presidents.
Tuesday, February 2nd 2021 - 09:16 UTC
Brazilian teamsters strike to protest fuel prices fizzles out

Brazil independent truckers strike got off on Monday to a weak start because of internal divisions on how to protest fuel prices. The government said traffic was flowing freely on all of the country's highways far from fears of a repeat of the 2018 protest that disrupted food and fuel supplies.