Energy & Oil

Monday, July 10th 2017 - 17:45 UTC
Don't hold your breath for deeper OPEC cuts

The rally in oil prices over the past two weeks came to a halt on news that OPEC is actually exporting more oil than previously thought. A month ago, oil prices appeared to be higher than they should have been, with weak demand, elevated inventories, and a recognition that the nine-month OPEC extension would be inadequate to balance the market.
Saturday, July 8th 2017 - 23:32 UTC
Brazil plans to overhaul power market to eliminate money losing subsidiaries

Brazil has announced plans to overhaul the power market which could lead to higher rates and rid the state controlled Electrobras utility of money losing subsidiaries.
Thursday, July 6th 2017 - 19:16 UTC
Chinese company will exploit energy resources in Brazil

Petrobras announced that it signed a memorandum of understanding with the China National Petroleum Corporation (CNPC) to exploit energy resources in Brazil and abroad. In the statement, Petrobras said that the deal will allow the two state oil companies to benefit from each other's capacity and experience in oil and gas production.
Thursday, July 6th 2017 - 06:57 UTC
Brazilian plan to review purchase of Bolivian natural gas

Petrobras should cut the maximum amount of natural gas it buys from neighboring Bolivia in half in an effort to encourage domestic importers and distributors to enter the market, according to a Brazilian government study.
Thursday, July 6th 2017 - 06:42 UTC
Petrobras awards pipeline inspection services contract to Fugro and its new vessel

Netherlands Fugro has been awarded a further two-year contract by Petrobras to provide comprehensive inspection, repair and maintenance (IRM) and pipeline inspection services in Brazil.
Tuesday, July 4th 2017 - 02:49 UTC
Bolivia's YPFB wins bid to sell LPG to Paraguay

Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) CEO Oscar Barriga announced Monday that the state company will export 4,000 tons of liquefied petroleum gas (LPG) to Paraguay.
Saturday, July 1st 2017 - 13:35 UTC
Trump announces new oil pipeline to Mexico right “under the wall”

US President Donald Trump announced the construction of a pipeline to carry oil to Mexico through the border near Peñitas, Texas, which would run under the infamous wall he has promised to build.
Sunday, June 18th 2017 - 02:34 UTC
Brazilian President Temer to tour Russia, Norway this week

President Michel Temer of Brazil is to meet his Russian counterpart Vladimir Putin during his Moscow stop this coming week. Among the items to be discussed is the purchase of air defense missile systems. There will also be talks with Russian investors to discuss energy matters.
Thursday, June 8th 2017 - 06:46 UTC
German nuclear energy utilities victory: top court declares tax on fuel rods illegal

Germany's energy utilities look set to receive refunds of billions of euros after the government's tax on their use of nuclear fuel rods was declared illegal by the country's top court. Between 2011 and 2016, nuclear power operators made payments of more than 6bn euros to the government. The Constitutional Court has ruled the tax was “unconstitutional and void”.
Sunday, June 4th 2017 - 13:17 UTC
Argentina inaugurates Tierra del Fuego offshore gas deposit which provides 8% of the country's demand

Argentina formally inaugurated the Vega Pleyade gas and condensate deposit off the coast of Tierra del Fuego considered the most austral of its kind in the world, and which has been supplying the country with nine million cubic meters daily since February 2016. The well is operated by French Total (37.5%) together with Wintershall Energy (37.5%) and Panamerican South (25%), demanded an investment of 1.1bn dollars over three years.