Energy & Oil

Friday, March 1st 2019 - 13:05 UTC
Maduro moves PDVSA office to Moscow to avoid sanctions

Venezuelan Vice President Delcy Rodriguez announced at a press conference with Russian Foreign Minister Sergey Lavrov that the central office of state oil company PDVSA in Europe, located in Lisbon, will move to Moscow to guarantee the security of the country's assets abroad, which were delivered to the Venezuelan Parliament in other countries.
Friday, February 22nd 2019 - 09:24 UTC
Brazilian oil production challenges OPEC' attempts to balance the market and prices

While everyone is talking about how surging U.S. crude oil production will offset a large part of the ongoing OPEC/non-OPEC production cuts, there are other oil producers not taking part in the OPEC+ deal and poised to see their output jump this year.
Friday, February 22nd 2019 - 09:12 UTC
Brazil's Vale ordered to suspend more iron ore operations fearing dam breaks

Brazil's mining agency (ANM) has ordered Vale to suspend operations at its Fabrica and Vargem Grande complexes, as part of an ongoing crackdown following last month's deadly dam break at the iron producer’s Corrego do Feijão mine.
Tuesday, February 19th 2019 - 08:39 UTC
Brazil bans upstream mining dams following the Brumadinho disaster that killed 300

Brazil's government on Monday banned new upstream mining dams and ordered the decommissioning of all such dams by 2021, targeting the type of structure that burst last month in the town of Brumadinho, killing hundreds of people.
Monday, February 18th 2019 - 10:08 UTC
Russian bank freezes Venezuela's oil company accounts, fearing US sanctions

Russian lender Gazprombank has frozen the accounts of Venezuelan state oil company PDVSA and halted transactions with the firm to reduce the risk of the bank falling under US sanctions, according to Reuters.
Monday, February 18th 2019 - 09:26 UTC
Petrobras settling financial disputes: agrees to pay petroleum regulator US$ 940m

Brazil state-run oil firm Petrobras said it had concluded a long-running dispute with the country’s ANP petroleum regulator, agreeing to pay 3.5 billion reais (US$ 940 million) to end an oil-royalty spat.
Monday, February 18th 2019 - 08:50 UTC
Another Vale tailings dam in Brazil in collapse danger: 200 residents evacuated

Around 200 residents were evacuated from an area near a tailings dam in Brazil operated by Vale SA late on Saturday, amid fears that it was structurally weak and could burst like a similar barrier failure last month that killed some 300 people.
Saturday, February 16th 2019 - 10:26 UTC
Brazil arrests eight officials from mining giant Vale over the dam collapse

Brazilian authorities arrested eight employees of mining giant Vale on Friday over a dam collapse at one of its mines three weeks ago that killed at least 166 people and left 147 missing, presumed dead.
Friday, February 15th 2019 - 07:21 UTC
“Venezuela should honor its debts obligations”, Russia reminds Maduro

Venezuela should honour its debt obligations to Russia despite the political situation in Caracas, Russian Finance Minister Anton Siluanov said on Thursday. ”Russia hopes that Venezuela, even in case of a change of power in the country, will fulfil its obligations under the debt to Russia, Siluanov told reporters on the sidelines of the Russian Investment Forum in the Black Sea resort of Sochi.
Thursday, February 14th 2019 - 10:03 UTC
Global commodity trading firms investigated in Switzerland and by the FBI

Pressure is growing on global commodity trading firms with strong ties to Switzerland for their alleged involvement in the “Car Wash” corruption scandal in Brazil. The US Federal Bureau of Investigation is investigating two Vitol executives in the Americas, according to Reuters news agency.