Energy & Oil

• Monday, November 12th 2018 - 18:13 UTC

  Oil producing countries agree on need to cut down crude output due to oversupply

  

  They call it “production adjustments,” but in reality most major oil extracting countries agreed Sunday new strategies regarding crude output were needed in light of the surplus accrued over the past few months.

• Monday, November 12th 2018 - 01:48 UTC

  Axion cuts down fuel price in Argentina

  

  Fuel retailer Axion cut down its prices by 3.2% in Argentina, in line with declines of both the US dollar exchange rate and the international oil barrell, it was reported Saturday. Other companies are expected to follow suit shortly.

• Friday, November 9th 2018 - 08:27 UTC

  Oil down 20% from its October peak despite US sanctions on Iran

  

  Oil markets on Friday remained weak as rising supply and concerns of an economic slowdown pressured prices, with U.S. crude now down by 20% since early October. U.S. West Texas Intermediate (WTI) crude oil futures were at US$ 61.63 per barrel.

• Friday, November 9th 2018 - 08:17 UTC

  Argentine bio-fuel industry hopeful 2017 US taxes will be reviewed

  

  The U.S. decision to review its tariffs on Argentine biodiesel could mean a reversal of fortune for exporters whose shipments from South America have been practically nil, the biodiesel chamber of Argentina said on Thursday.

• Friday, November 9th 2018 - 07:29 UTC

  Argentina launches off-shore bidding in the Austral and Malvinas regions

  

  Argentina has launched its first offshore bidding round in nearly three decades. The country's energy secretariat published details regarding bidding terms and conditions for public bidding for exploration licenses.

• Thursday, November 8th 2018 - 07:34 UTC

  US oil output hits another record, but prices and world market remain volatile

  

  Oil prices slipped on Wednesday, continuing a recent slide after surging U.S. crude output hit another record and domestic inventories rose more than expected. The U.S. Energy Information Administration (EIA) said domestic crude inventories rose 5.8 million barrels in the latest week, more than double analysts’ expectations.

• Thursday, November 8th 2018 - 07:11 UTC

  US to review antidumping duties on biodiesel imported from Argentina

  

  The U.S. Commerce Department said it would begin a review of antidumping duties it placed last year on biodiesel imported from Argentina, the Argentine Foreign Ministry said in a statement on Wednesday.

• Tuesday, November 6th 2018 - 08:44 UTC

  Oil market cautious as US punitive sanctions on Iran become effective

  

  Oil prices were mixed on Monday after a steep five-day fall, as the United States formally imposed punitive sanctions on Iran but granted eight countries temporary waivers allowing them to keep buying oil from the Islamic Republic. The sanctions are part of U.S. President Donald Trump’s effort to curb Iran’s missile and nuclear programs and diminish its influence in the Middle East.

• Sunday, November 4th 2018 - 15:02 UTC

  Fuel goes up 7% in Argentina, 14th increase in 2018 to reach a total 65% this year

  

  The retail price of fuel went up around seven percent this weekend in Argentina, for an aggregate 65 percent yearly rise that led impoverished consumers to use other transport means to make up for it.

• Saturday, November 3rd 2018 - 08:40 UTC

  Bolivia delivering smaller volumes of gas to Argentina than set forth in the contract

  

  Bolivia's Hydrocarbons Minister Luis Alberto Sánchez Friday admitted that gas deliveries to Argentina are kept at an average of 10 million cubic metres per day (MMm3d), far below the 17.2 MMm3d agreed upon in the contract