Energy & Oil

• Wednesday, June 10th 2020 - 08:41 UTC

  Falklands will continue to invest in improving quality of life and prosperity of its people

  

  The Falkland Islands remain confident of the British government's support and defense of their sovereignty and self-determination right, and is working closely with London to ensure the Falklands interests are contemplated in the Brexit negotiations.

• Sunday, June 7th 2020 - 10:16 UTC

  Brazil: producers of hydrated ethanol fuel can sell directly to gas station owners

  

  Brazil’s CNPE national energy council approved a resolution that establishes rules allowing producers of hydrated ethanol fuel to sell directly to gas station owners, according to a statement. Oil regulator ANP will now be able to take steps to put the new rules into practice, the statement said.

• Monday, June 1st 2020 - 08:54 UTC

  Venezuela announces the end of subsidized fuel prices together with privatized service stations

  

  Venezuela will increase fuel prices in June, the president said, putting a limit on state subsidies that for decades had allowed citizens to fill their gas tanks virtually for free. Although the country has huge oil reserves, production has collapsed and Venezuelans are facing dire shortages - exacerbated by the impact of COVID-19 on the economy.

• Monday, June 1st 2020 - 08:49 UTC

  Oil prices fall because of concerns about extended rioting in major US cities

  

  Oil prices fell due to concerns about riots in major US cities that could staunch demand after trading higher on optimism that OPEC would extend or enhance production cuts at a meeting in June.

• Wednesday, May 27th 2020 - 08:15 UTC

  Coronavirus reaches the oil rigs off the coast of Brazil

  

  Norway's Equinor ASA and Anglo-French firm Perenco are among at least five oil producers that have registered coronavirus cases among employees or contractors at facilities off the coast of Brazil, according to industry and regulatory sources.

• Tuesday, May 26th 2020 - 07:45 UTC

  Iranian tankers unloading much needed gasoline in Venezuela

  

  The first of five Iranian tankers carrying much-needed gasoline and oil derivatives docked in Venezuela on Monday, Caracas announced amid concern in Washington over the burgeoning relationship between countries it sees as international pariahs.

• Monday, May 25th 2020 - 07:54 UTC

  Iranian petrol reaches Venezuela, despite US warnings

  

  The first of five Iranian tankers carrying fuel for gasoline-starved Venezuela entered the country's exclusive economic zone on Saturday, despite a US official's warning that Washington was considering a response to the shipment. The tanker, named Fortune, reached the country’s waters at around 7:40 pm local time (1140 GMT) after passing north of the neighboring dual-island Caribbean nation of Trinidad and Tobago, according to vessel-tracking data from Refinitiv Eikon.

• Monday, May 25th 2020 - 07:52 UTC

  Pierre Andurand, French 'wonder boy' who predicted the sub zero oil market collapse

  

  French oil trader Pierre Andurand was catapulted into the spotlight this year after correctly betting that the deadly novel coronavirus would spark a sub-zero oil market collapse. Andurand, the 43-year-old founder of London-based Andurand Capital who runs two multi-million-dollar funds, bet in February that the deadly COVID-19 outbreak could represent a rare “black swan” event that would send prices into reverse.

• Friday, May 22nd 2020 - 08:41 UTC

  Oil prices slump after China omits 2020 economic growth target

  

  Oil prices slumped on Friday after China's decision to omit an economic growth target for 2020 renewed concerns that the fallout from the coronavirus pandemic will continue to depress fuel demand in the world's second-largest oil user.

• Wednesday, May 20th 2020 - 21:54 UTC

  Argentina establishes a minimum oil price of US$ 45/barrel for domestic sales

  

  Oil companies in Argentina are obligated to maintain production, payrolls, and investment and cannot repatriate profits under a decree that establishes above-market prices for domestic crude. The decree published on Tuesday sets a minimum price of US$ 45/bl for domestic sales of light sweet Medanito crude.