Energy & Oil

• Monday, March 9th 2020 - 08:55 UTC

  Oil prices plunge 30% after OPEC fails to agree on production cuts; Russia clashes with Saudi Arabia

  

  Oil prices plunged 30% in early trading after OPEC’s failure to strike a deal with its allies regarding production cuts caused Saudi Arabia to slash its prices as it reportedly gets set to ramp up production, leading to fears of an all-out price war.

• Tuesday, March 3rd 2020 - 08:59 UTC

  UK/Argentina discuss trade and business opportunities, but also Malvinas

  

  UK Deputy Foreign Secretary for Europe and the Americas Wendy Morton held on Monday several meetings in Buenos Aires with officials from the new Argentine government looking to strengthen bilateral ties as well as boosting trade and investment.

• Tuesday, March 3rd 2020 - 08:29 UTC

  Brazil increases bio-content of blended diesel to 12% from 11%

  

  Brazil increased the volume of biodiesel blended with diesel sold at the pump to 12% from 11% on Sunday, the latest increase to a biofuels mandate that aims to decrease Latin America's largest economy's dependence on imported barrels.

• Monday, March 2nd 2020 - 19:54 UTC

  Crucial election in oil rich Guyana; economy forecasted to grow 85% this year, IMF

  

  Guyana goes to the polls this Monday in a pivotal election in one of South America's poorest nations, where a coming oil boom is set to reshape an ethnically-divided political landscape.

• Monday, February 24th 2020 - 06:38 UTC

  Petrobras workers end three weeks strike, after arbitration call by labor court

  

  Workers at Brazil’s state-owned oil giant Petrobras have ended a strike of nearly three weeks that left the firm scrambling to avoid a drop in production, labor unions said last Friday. Around 21,000 workers — a third of the total workforce — joined the mass walk-out at the start of the month.

• Monday, February 24th 2020 - 06:33 UTC

  Petrobras record profit for 2019, basically on divesting and asset sales

  

  Brazil’s state-run oil firm Petrobras reported last week a record net profit for 2019, thanks to asset sales under its strategy to divest non-core operations and focus on the deepwater pre-salt region offshore Brazil.

• Thursday, February 20th 2020 - 18:10 UTC

  Oil workers on strike against Petrobras privatization plans

  

  Brazilian oil workers and oil giant Petrobras were locked in a power struggle over the company’s privatization plans, with the union saying thousands of employees are on an indefinite strike.

• 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.