Energy & Oil

Wednesday, January 9th 2019 - 08:39 UTC
ExxonMobil resumes exploratory drilling off Guyana; first FPSO expected at the end of the year

US energy company ExxonMobil has started drilling one of two new exploration wells offshore Guyana. It’s the first of two wells to be drilled this month. The world’s largest publicly traded international oil and gas company said in a statement that the Stena Carron drillship is drilling the Haimara-1 well, located 19 miles east of the Pluma-1 discovery in the southeast Stabroek Block.
Tuesday, January 8th 2019 - 09:28 UTC
Brazilian government and Petrobras in dispute over billions of dollars

Brazil’s Economy Ministry denied that the government would pay US$ 14 billion to state-controlled oil company Petroleo Brasileiro SA to settle a dispute over an oil-producing zone off the Brazilian coast known as the transfer-of-rights area.
Monday, January 7th 2019 - 09:03 UTC
Oil Is at the mercy of Financial Markets

Oil prices regained more ground on Wednesday, pushed higher after equity markets rebounded from an initial selloff at the start of 2019 trading. The price gains are not entirely convincing. WTI and Brent posted strong gains, each up more than 3 per cent by midday in New York, but come largely after U.S. equity markets shook off an earlier bout of pessimism.
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.