Energy & Oil

Friday, June 21st 2019 - 15:51 UTC
Oil prices shoot up as Iran says, “It's ready for war”

By Nick Cunningham of Oilprice.com - Oil was woken out of its slumber by yet another round of escalation between the U.S. and Iran, although the matter took on greater importance to oil markets only because of a more upbeat economic outlook.
Wednesday, June 19th 2019 - 09:29 UTC
Petrobras makes huge natural gas discovery in the Sergipe basin

Brazilian state-run oil firm Petrobras has made natural gas discoveries in six deep-water fields in the Sergipe Basin, it said in a regulatory filing on Monday.
Tuesday, June 18th 2019 - 09:54 UTC
Argentina opens an official inquiry into Sunday's massive blackout

Argentina has opened an inquiry into what caused a massive blackout that left nearly 50 million people without power, Energy Minister Gustavo Lopetegui said on Monday.
Monday, June 17th 2019 - 09:55 UTC
Massive blackout hits Mercosur; Argentina and Uruguay in the dark for six hours; major investigation promised

A massive blackout left tens of millions of people without electricity in Argentina, Uruguay, Paraguay and parts of Chile and southern Brazil on Sunday. The Argentine president called it an “unprecedented” failure in the countries' interconnected power grid.
Monday, June 17th 2019 - 09:50 UTC
Argentine authorities admit they have yet to detect the cause of the major blackout

Argentina's Energy Secretary Gustavo Lopetegui described the massive blackout suffered mostly by Argentina and Uruguay, but which also affected areas of neighbouring countries, Paraguay, Chile and Brazil as “an extraordinary event that should have never happened, there are no reasons for it occurring and leaving Argentina completely in the black”.
Saturday, June 15th 2019 - 08:02 UTC
Iran dismisses as “baseless” US accusations of twin attacks on two tankers in the Strait of Hormuz

Iran dismissed as “baseless” on Friday US accusations it executed twin attacks that left two tankers ablaze in the Gulf of Oman, raising fears of conflict in the strategically vital waterway.
Thursday, June 13th 2019 - 09:31 UTC
Chilean copper miners on the verge of strike as of Friday

More than 3,200 workers at Chile's huge Chuquicamata copper mine plan to go on strike this week after union-management talks broke down, state-run miner Codelco - the world's largest copper producer - said on Wednesday.
Thursday, June 13th 2019 - 08:56 UTC
Oil prices tumble to their lowest in five months: unexpected US crude stockpiles

Oil prices tumbled 4% on Wednesday to their lowest settlements in nearly five months, weakened by another unexpected rise in U.S. crude stockpiles and by a dimming outlook for global oil demand.
Wednesday, June 12th 2019 - 08:40 UTC
US beats expectations: net oil exporter on a monthly basis starting November

The US will become a net oil exporter for the first time on a monthly basis in November, with crude and refined product exports exceeding imports by 220,000 b/d, the Energy Information Administration said on Tuesday.
Wednesday, June 12th 2019 - 08:30 UTC
Exxon-Mobil begins long term development of oil and gas in Argentina's Vaca Muerta shale deposits

ExxonMobil said on Tuesday it will proceed with a long-term oil and natural gas development project on a block in Argentina, targeting the Vaca Muerta shale play. The US-based company plans to drill 90 wells to take production to 55,000 b/d of oil equivalent in five years from the Bajo del Choique-La Invernada block in the Neuquen Basin in the country's southwest, the company said in a statement.