Energy & Oil

Wednesday, April 20th 2022 - 09:40 UTC
Exxon Mobil drilling offshore in Brazil's Sergipe/Alagoas basin with a potential of a billion barrels

United States Exxon Mobil Corp. is drilling in a new area offshore in the northeast of Brazil that could have as much as a billion barrels of oil and gas equivalent, according to its partner Murphy Oil.
Saturday, April 16th 2022 - 09:48 UTC
Brazilian scientists find new way to capture carbon from the atmosphere

According to a report published Friday by Agencia Brasil, a group of scientists from that country has found new techniques which could be of use in forest recovery and increase the capture of carbon from the atmosphere. April 15 was Brazil's National Soil Conservation Day.
Saturday, April 16th 2022 - 08:43 UTC
OPEC minimum oil production increase during March

OPEC oil production increased by just 57,000 barrels per day (bpd) in March from February, as African members’ struggles to pump more crude partially offset increases at the core OPEC members of the Middle East, reports Tsvetana Paraskova for Oilprice.
Friday, April 15th 2022 - 09:52 UTC
Aluminum plant to expand wind farm in Argentine Patagonia

The traditional Argentine aluminum manufacturer Aluar has announced plans to invest US$ 130 million to expand its wind farm near Puerto Madryn, in the Argentine Patagonia province of Chubut. The new equipment is expected to be fully operational by December 2023.
Friday, April 15th 2022 - 09:23 UTC
Gibraltar reduces duties on fuel until July first, to help consumers

Given the increased cost of automotive diesel and petrol, the Government of Gibraltar is taking action to reduce the price of fuel to help consumers.
Thursday, April 14th 2022 - 09:43 UTC
Argentina: CFK acquitted in gas overpricing case

Argentine Vice President Cristina Fernández de Kirchner (CFK) has been acquitted in the case of alleged overpricing in the purchase of Liquefied National Gas. Judge Julián Ercolini's ruling also reached her former aides Julio De Vido, Roberto Baratta, and other officials of her administration.
Wednesday, April 13th 2022 - 09:53 UTC
“It's going to be a long cold winter in Buenos Aires”

By Haley Zaremba, Oilprice.com – A fuel shortage is causing political turmoil and social unrest in Argentina, and could even result in a food shortage as the South American nation’s grain transporters call or a strike in the face of sky-high fuel prices during the harvest season for soy and corn.
Wednesday, April 13th 2022 - 09:41 UTC
Abdo enacts law eliminating fuel subsidies to Paraguayan brand fuels

Paraguay's President Mario Abdo Benítez Tuesday signed into law the suppression of subsidies to the price of fuel at pumps which helped the state-run Petróleos Paraguayos SA (Petropar) against all competitors.
Tuesday, April 12th 2022 - 10:11 UTC
Price of diesel in the Falklands increases to 80p a liter

The price of diesel in the Falkland Islands has risen. Gareth Goodwin from Stanley Services was quoted by Falklands Television saying volatility risen from the war in Ukraine following the Russian invasion has caused disruptions in global fuel markets.
Tuesday, April 12th 2022 - 10:09 UTC
Falklands oil company shares skyrocket following extension of license

Argos Resources shares surged 23% to 2.4p on news that the Falkland Islands government extended its second term PL001 license. The Falklands Islands-based explorer will not need to commit to any additional work to be granted the license between 1 May 2022 and the year-end.