Energy & Oil

Tuesday, October 8th 2019 - 09:03 UTC
Oil spill in Brazil has affected 42 cities, environment minister reports

Brazil’s environment minister says more than 100 tons of oil has been spilt along the northeastern coast since the beginning of September. Ricardo Salles said Monday on Twitter that 42 cities have been affected by the spills. He did not say how he reached those figures.
Monday, October 7th 2019 - 09:48 UTC
Ecuador in turmoil: shopkeepers arrested for raising food prices while street clashes continue

Ecuadorean authorities began arresting shopkeepers for raising food prices as indigenous groups clashed with security forces on Sunday in the fourth day of protests against President Lenin Moreno's austerity measures.
Monday, October 7th 2019 - 09:40 UTC
Russia pledges to help Cuba have access to oil and petroleum products

Russia will find ways to help Cuba get oil and petroleum products, Russian Prime Minister Dmitry Medvedev said in an interview broadcast on Saturday. Medvedev pledged to help develop Cuba’s energy sector during a visit to the island this week but did not announce any short-term measures to provide relief from crippling fuel shortages in the wake of tougher U.S. sanctions.
Saturday, October 5th 2019 - 09:12 UTC
Mexico does not seek control of Zama, the country's major oilfield discovery in decades

Mexican President Andres Manuel Lopez Obrador said that his government is not seeking to take control of the Zama oilfield discovery, which is currently operated by a private consortium led by U.S.-based Talos Energy. The statement follows on a report from Reuters earlier in the week saying that Mexico’s national oil company, Pemex, wants to take control of Zama from Talos.
Friday, October 4th 2019 - 09:55 UTC
Ecuador will eliminate fuel subsidies and tighten the belt of public employees

Ecuadorean President Lenin Moreno said that his government will eliminate subsidies for diesel and low-octane gasoline and create a new corporate tax as part of a package of measures to narrow the country’s fiscal deficit.
Friday, October 4th 2019 - 09:50 UTC
Ecuador declares state of emergency to contain protests against elimination of fuel subsidies

Ecuador's President Lenin Moreno declared a state of emergency Thursday as protests broke out nationwide over the end of decades-old fuel subsidies as part of a $2 billion government fiscal reform package. Police responded with tear gas in the worst unrest for years in the oil-producing Andean nation.
Tuesday, October 1st 2019 - 09:55 UTC
Argentina's recurring nightmare

By Andrés Bello (*) - Argentine President Mauricio Macri seems almost certain to lose his country’s presidential election next month, after committing the same kinds of economic policy mistakes that so many of his Peronist predecessors made. It is a tragic and catastrophically disappointing denouement.
Tuesday, October 1st 2019 - 09:50 UTC
Chile's production of copper and lithium increased during August

Chile's production of both copper and lithium jumped in August, even as the country's manufacturing production dropped 1.5% compared with the same month the previous year, government data showed on Monday.
Monday, September 30th 2019 - 08:13 UTC
Petrobras to concentrate on reducing debt load and deep water exploration

Petrobras’ administration board has approved an update to its plan for the next five years that is expected to call for the state-run oil and gas company to dump its gas distribution and transport business, its fertilizer business, and its LPG and biodiesel business, according to media reports.
Thursday, September 26th 2019 - 13:35 UTC
What is the economic fallout from the Saudi Arabia oil facility attack?

A violent attack on Saudi Arabia’s oil infrastructure was carried out earlier this month. Some 18 drones and seven cruise missiles were reportedly fired in the direction of several oil facilities in the region. The Abqaiq facility was the primary location of attack, while cruise missiles struck an oilfield in Khurais, just east of the city of Riyadh.