Energy & Oil

• Wednesday, February 19th 2020 - 06:42 UTC

  Cuba short of oil forced to burn old tyres to power factories

  

  The Cuban government has ordered a cement factory to burn old tyres to power its operations and save on oil, amid a worsening fuel shortage brought on by US sanctions on the Communist island.

• Monday, February 17th 2020 - 08:50 UTC

  Venezuela urgently shipping oil to fuel-short Cuba and its crippled its sugar and tourism industries

  

  Venezuela's state energy firm PDVSA has been shipping more oil this month to close ally Cuba, as tighter U.S. sanctions have worsened fuel shortages on the Caribbean island, according to sources.

• Friday, February 14th 2020 - 08:40 UTC

  Ex head of Mexican oil firm Pemex arrested in Spain on corruption charges

  

  Spanish police this week arrested Emilio Lozoya, the former chief executive of Mexico’s state oil firm Pemex, giving President Andres Manuel Lopez Obrador his first high-profile win in his government’s anti-corruption drive.

• Wednesday, February 12th 2020 - 08:40 UTC

  Chinese company confident it will start its US$ 2,1 billion iron ore project in Brazil

  

  Chinese mining company Sul Americana de Metais (SAM), a unit of China’s Honbridge Holdings, is confident it will receive the necessary permits to start up its US$ 2.1 billion iron ore project in Minas Gerais, its chief executive said.

• Wednesday, February 12th 2020 - 07:43 UTC

  World's largest oil traders investing in climate friendly projects, but profits remain a big question mark

  

  The world's largest oil traders are pouring hundreds of millions of dollars into climate-friendly projects: including wind farms, cow manure plants, and blue hydrogen: as they seek to match the profits they make from trading oil.

• Tuesday, February 11th 2020 - 07:58 UTC

  US government wants Canada and Mexico to help ship coal, avoiding west coast states ban

  

  U.S. Energy Secretary Dan Brouillette said that Canada and Mexico could help export U.S. coal to Asia to get around the blocking of shipments by West Coast states concerned about the impact of the fuel on climate change.

• Monday, February 10th 2020 - 08:03 UTC

  Chinese group takes control of major lithium project in Argentina

  

  China’s Ganfeng Lithium Co said it will take control of an Argentina lithium project it has been developing with Lithium Americas Corp, cementing its control over a key source of the white metal for electric vehicle batteries.

• Friday, February 7th 2020 - 09:35 UTC

  Brazil's development bank BNDES sells shares in Petrobras

  

  Brazil's development bank BNDES sold US$5.2 billion in common shares it owned in state-controlled oil company Petrobras. The company priced the offering at 30 Reais per common share, a discount of 1.57% relative to Wednesday's closing price. BNDES sold 22 billion reais in shares.

• Wednesday, February 5th 2020 - 07:18 UTC

  Consolidation and a FPSO platform in Brazil's Campo Basin

  

  Brazil’s PetroRio SA has acquired a floating oil and gas platform type FPSO OSX-3 for US$140 million and 80% of the Tubarão Martelo oil field where the vessel is located, the field’s previous owner Dommo Energia SA said.

• Wednesday, February 5th 2020 - 06:49 UTC

  US shale fields starting to plateau; investors looking to Guyana offshore fields

  

  Shale pioneer John Hess said on Tuesday that key U.S. shale fields are starting to plateau, calling shale “important but not the next Saudi Arabia.”