Energy & Oil

• Wednesday, August 22nd 2018 - 08:49 UTC

  Oil price war to begin: Saudi Arabia and Iran reignites the market

  

  The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil.

• Monday, August 13th 2018 - 18:53 UTC

  Venezuela appealing US$ 1.4bn compensation ruling, threatening Citgo

  

  Venezuelan state oil company PDVSA is appealing a decision allowing Canadian miner Crystallex to take control of shares in U.S. subsidiary PDV Holdings as part of a 10 year dispute over the state takeover of Crystallex assets, a court filing shows.

• Monday, August 13th 2018 - 07:19 UTC

  UK embassy supporting program to help Brazil's energy goals

  

  As part of the UK Government’s Prosperity Fund, the British Embassy in Brazil is commissioning a study to assess various options for the governance structure of an Energy Centre to inform and support the Prosperity Fund Energy Program.

• Thursday, August 9th 2018 - 08:40 UTC

  Venezuela oil exports avoid seizures with tankers' transfers at sea and operating from Cuba

  

  Venezuela’s state-run oil company PDVSA has limited the damage from an unprecedented slump in crude exports by transferring oil between tankers at sea and loading vessels in neighboring Cuba to avoid asset seizures. But Venezuela is still fulfilling less than 60% of its obligations under supply deals with customers.

• Saturday, August 4th 2018 - 11:41 UTC

  Petrobras profits soar thirty fold in the second quarter helped by rising oil prices

  

  Brazil’s Petrobras benefited from the rising oil prices and booked a thirty-fold yearly jump in its second-quarter net income, which also beat analyst expectations.

• Thursday, August 2nd 2018 - 08:04 UTC

  Power outages in Venezuela turn once rich cities into ghost towns

  

  The state of Zulia, the historic heart of Venezuela’s energy industry that was for decades known for opulent oil wealth, has been plunged into darkness for several hours a day since March, sometimes leaving its 3.7 million residents with no electricity for up to 24 hours.

• Wednesday, August 1st 2018 - 08:18 UTC

  Brazil investigating collusion and price fixing at the fuel pump: largest distributors targeted

  

  Brazil’s three largest fuel distribution companies are under investigation for fixing prices at the pump, police said on Tuesday, reigniting debate over potential collusion among gas station owners in Latin America’s largest oil producer.

• Tuesday, July 31st 2018 - 08:36 UTC

  Guyana top country in discovered oil resources during 2018

  

  Discovered resources globally of conventional oil and natural gas surpassed 4.5 billion barrels of oil equivalent in the first half of 2018, making for an exciting recovery with Guyana leading the way, according to analysis by Rystad Energy. Average monthly discovered volumes are 826 million barrels of oil equivalent. This is a 30% increase from 2017.

• Tuesday, July 31st 2018 - 08:19 UTC

  YPF faces a US$ 14 billion lawsuit in the US, dating back to Maxus Energy acquisition

  

  Argentina's hydrocarbons company YPF is facing a fresh lawsuit in the United States, this time for US$14bn, which is twice the market value of the state oil firm, over alleged corporate restructuring that the company was said to have carried out several years ago.

• Tuesday, July 31st 2018 - 07:00 UTC

  Venezuela scarce gasoline will be sold only to the politically loyal

  

  Venezuela is taking steps to direct dwindling motor fuel to politically loyal vehicle owners. President Nicolas Maduro ordered a national census on 3-5 August to determine how many vehicle owners possess a homeland identity card, a document created in first quarter 2017 to strengthen the government's social and political surveillance capabilities.