Energy & Oil

• Friday, January 4th 2019 - 09:10 UTC

  YPF 2012 nationalization case reaches US Supreme Court: US$ 2.5bn at stake

  

  The US Supreme Court will hear this Friday an appeal against an intermediate court decision accepting jurisdiction over Argentina and its majority state-owned oil giant YPF, in a case relating to YPF’s 2012 re-nationalization by Argentina, then under the rule of ex-president Cristina Fernandez.

• Thursday, January 3rd 2019 - 09:00 UTC

  Paraguayan group buys 124 YPF gasoline stations in 17 Argentine provinces

  

  The Paraguay group Delta Patagonia has signed an agreement with Argentina's managed oil company YPF for the acquisition of 124 gas stations in 17 provinces. The service stations will now operate under the brand Gulf Combustibles.

• Saturday, December 29th 2018 - 07:44 UTC

  Petrobras announces hedging program for diesel prices

  

  Brazil’s Petrobras has approved a hedging program for diesel prices in a bid to boost pricing flexibility, the state-run oil firm said in a filing on Friday. While Petrobras did not detail how its diesel hedging program would be structured, it said the move was similar to a measure taken in September, when the company introduced a hedging program for gasoline.

• Saturday, December 29th 2018 - 07:22 UTC

  Argentina's energy secretary steps down following leaks on the increase of power rates

  

  Argentina's energy secretary resigned on Friday, the government said in a statement, less than 24 hours after news leaked that the administration of President Mauricio Macri plans to increase electricity prices by an average 35% next year.

• Friday, December 28th 2018 - 08:55 UTC

  Oil prices remain under pressure from US stockpiles and concerns with the global economy

  

  Oil prices jumped as much as 3% on Friday to win back a chunk of the ground they lost in the previous session, but growth in U.S. crude stockpiles and ongoing concerns about the global economy kept markets under pressure.

• Thursday, December 27th 2018 - 09:07 UTC

  Lithium boom anticipated in Brazil as reserves are developed in Minas Gerais

  

  Favorable international demand and a recent discovery of lithium reserves in Brazil caused a rush for the metal, used in electrical batteries, reports the Folha de Sao Paulo. Two ongoing projects will elevate Brazil to the status of one of the world's largest lithium-producing countries in the next decade, according to data from the National Agency for Mining, ANM..

• Thursday, December 27th 2018 - 09:01 UTC

  Venezuela invites Russia to join in gold mining

  

  Venezuelan authorities have offered Russian companies to take part in gold exploration and gold mining in the country, according to Russian Ambassador to Venezuela Vladimir Zaemsky.

• Thursday, December 27th 2018 - 04:58 UTC

  Venezuela calls US “interventionist” for backing Guyana's offshore oil exploration

  

  Venezuela’s foreign ministry on Tuesday described as “interventionist and disrespectful” U.S. comments on a weekend incident in which the country’s navy stopped two ships exploring for oil for Exxon Mobil off Guyana’s coast.

• Wednesday, December 26th 2018 - 08:55 UTC

  Petrobras plans to invest US$ 84bn mainly in pre-salt areas by 2023

  

  Petrobras has unveiled plans to invest US$ 84.1bn in deepwater exploration and production projects in Brazil, as well as raise $27bn through asset sales and partnerships by 2023. Around US$ 69bn of the planned investment will be channelled into the development of production in the pre-salt areas. Other key focus areas of investment include refining, transportation, trading, and natural gas and petrochemicals.

• Monday, December 24th 2018 - 14:24 UTC

  Venezuelan Navy repels oil exploring ship, triggers international diplomatic conflict with Guyana

  

  Venezuela's Foreign Minister Jorge Arreaza has demanded that Guyana respect its sovereignty after two ships of the transnational company ExxonMobil were repelled Saturday from what the Bolivarian Navy deemed to be their country's waters. But both the governments of the United States and of Guyana claim it was Venezuela who was in breach of international law.