Energy & Oil

Friday, July 26th 2019 - 09:56 UTC
Brazil's highest court orders Petrobras to refuel two Iranian grain vessels

Brazil’s top court on Thursday ordered state-run oil company Petrobras to refuel two Iranian grain vessels stranded on the Brazilian coast due to U.S. sanctions holding up sales of fuel needed for their return trips.
Friday, July 26th 2019 - 09:49 UTC
Petrobras sells off a majority share of its distribution branch

Brazilian oil giant Petrobras says it’s already sold off its majority share in its fuel distribution branch, and hopes the total sale will raise about US$ 2.5 billion. Petrobras said on Wednesday it now has a 41.25% stake in the Petrobras Distribuidora unit, down from the 70% before the sale started Tuesday.
Friday, July 26th 2019 - 09:44 UTC
YPF hires an LNG tanker to ship Vaca Muerta shale gas to global markets

Argentina's YPF said on Thursday it reached a preliminary agreement with Texas-based Excelerate Energy to hire an LNG tanker for shipping cargoes to global export markets, as the state-backed energy company seeks to offload a growing surplus of shale gas production.
Wednesday, July 24th 2019 - 23:55 UTC
Rockhopper divests from Egypt to concentrate in the Falklands' Sea Lion project

Oil and gas exploration firm Rockhopper Exploration, with interests in the Falklands and preparing to advance with the Sea Lion project, has agreed to sell its assets in Egypt to United Oil & Gas in a US$ 16m deal. The sale of Rockhopper Egypt includes a non-operated 22% interest in the Abu Sennan concession onshore Egypt and the existing assets of the business.
Wednesday, July 24th 2019 - 09:59 UTC
“Electromagnetic attack” behind massive power cut, Venezuelan minister explains

Venezuela's Communication and Information Minister Jorge Rodriguez Tuesday revealed that according to preliminary inquiries, the probable cause of the massive blackout on Monday, which hit most parts of Venezuela, including the capital Caracas, was “an electromagnetic attack.”
Tuesday, July 23rd 2019 - 09:51 UTC
Caracas and other regions of Venezuela hit by a massive power blackout

Caracas and other parts of crisis-wracked Venezuela were hit by a massive power cut on Monday foreign journalists and internet users said. The lights went out in most of Caracas at 4.41pm (2041 GMT) while people in other parts of the country took to social media to report the power had gone out there too.
Monday, July 22nd 2019 - 09:52 UTC
More Iranian bulk carriers stranded in Brazil, since Petrobras refuses to refuel them fearing US sanctions

Two more Iranian bulk carriers that came to Brazil carrying urea and were expected to return home with corn could be left without enough fuel, as Brazil's Petrobras refuses to provide them with bunker fuel due to U.S. sanctions.
Monday, July 22nd 2019 - 09:37 UTC
PM May last emergency meeting on Monday to address seizure of UK flagged oil tanker

Prime Minister Theresa May will hold a meeting of Britain's emergencies committee on Monday to discuss Iran's seizure of a UK-flagged oil tanker in the Gulf. In one of her final important acts as prime minister before resigning on Wednesday, May will chair a meeting of Britain's COBR emergencies committee at around 10.30am (0930 GMT), her Downing Street office said.
Monday, July 22nd 2019 - 09:25 UTC
IMO condemns tanker attacks in Strait of Hormuz and Sea of Oman

The Council of the International Maritime Organization (IMO) has condemned recent attacks on commercial shipping in the Strait of Hormuz and Sea of Oman at its meeting in London held from 15-19 July.
Friday, July 19th 2019 - 09:47 UTC
Chile reduces copper price projection for 2019 as China's demand slows down

Chile, the world's largest producer of copper, reduced on Thursday its price projection for the precious metal for 2019 from US$3.05 to US$2.89 per pound due to a drop in demand from the planet's largest consumer, China.