Energy & Oil

Monday, December 3rd 2018 - 08:36 UTC
IDB US$ 130m loan to modernize Argentine-Uruguayan bi-national Salto Grande dam and power plant

The Inter-American Development Bank (IDB) has approved two financing packages worth a total of US$ 130 million in support of a program to modernize the Argentine-Uruguayan bi-national hydroelectric power plant in Salto Grande and a program to boost the competitiveness of the productive and tourism sectors of that region, made up of the departments of Concordia and Federacion in the Argentine province of Entre Ríos and Salto department in Uruguay.
Monday, December 3rd 2018 - 07:18 UTC
Oil prices recover following on US/China trade conflict 90-day truce

Oil prices surged in early trading on Monday after the United States and China agreed on a truce in their trade conflict and ahead of a meeting by producer club OPEC this week that is expected to result in a supply cut.
Saturday, December 1st 2018 - 10:29 UTC
Bolsonaro names an Admiral as Mining and Energy minister

President-elect and former army captain, Jair Bolsonaro, has named a Navy admiral as his Mining and Energy minister. The appointment marks the eighth member of the armed forces to Bolsonaro's government and the 20th Minister appointed so far.
Saturday, December 1st 2018 - 10:24 UTC
Brazilian economy accelerates in the third quarter

The Brazilian economy accelerated sharply in the third quarter as record-low interest rates and a one-off government-led boost helped it bounce back from the impact of a nationwide truckers’ strike. Gross domestic product rose 0.8% from the second quarter and 1.4% from the third quarter of 2017, government statistics agency IBGE said on Friday.
Saturday, December 1st 2018 - 09:24 UTC
Oil prices in November slide 20%, the weakest month in more than ten years

Oil prices edged lower on Friday due to concerns of oversupply and a strong dollar. The two benchmarks, North Sea Brent LCOc1 and U.S. crude CLc1, still have had their weakest month in more than 10 years in November, losing more than 20% as global supply has outstripped demand.
Thursday, November 29th 2018 - 08:23 UTC
China/Argentina closer links; Beijing to finance the country's fourth nuclear power plant

Argentina and China are aiming to close a deal within days for the construction of the country's fourth nuclear power plant, a multi-billion dollar project that would cement Beijing’s deepening influence in a key regional U.S. ally.
Tuesday, November 27th 2018 - 15:18 UTC
Sharp fall in Brazil's Petrobras fuel but not so fast at pumps

The average price of gasoline at Petrobras' refineries has dropped around 20% in November as of Tuesday but that decrease will not hit retail prices anytime soon. The state-run petroleum company made the announcement Monday, but gas stations were reluctant to follow suit, at least not at the same level.
Tuesday, November 27th 2018 - 09:00 UTC
Brazil Eyes US$ 30 Billion Offshore Oil Boom

Over the past few years, Brazil has held several very successful oil auctions under production-sharing contracts in its pre-salt layer, attracting major oil companies to its prized offshore oil area.
Tuesday, November 27th 2018 - 05:20 UTC
Oil and chemistry bring big revenues to China

The oil and chemical industries have meant a 712.1 billion yuan (around 103 billion US dollar) profit for the first three quarters of the year for China's treasure, which equals a 45.2 percent increase from the same period of 2017, according to official Ministry of Industry and Information Technology figures released Monday.
Monday, November 26th 2018 - 07:32 UTC
Venezuela complies with court order and pays for Canadian company nationalized assets

Cash-strapped Venezuela settled a US$1.2 billion arbitration claim that will prevent a creditor from stripping away its crown jewel foreign asset, the U.S.-based Citgo Petroleum Corp refining business, according to Canadian court documents.