Despite previous comments that there was no commercial oil available in Paraguay's soil, President Energy is to drill its third well in the Chaco region, it was announced Thursday.
Paraguay's state-run oil company Petropar has announced a reduction of PYG 250 (US$ 0.036) for liquefied petroleum gas (LPG), marketed under the brand Ñande, and of PYG 150 (US$ 0.022) for 88-octane gasoline known as Kape, effective this coming Friday.
Uruguay's Industry Minister Omar Paganini Tuesday said during the traditional rural Expo Prado fair in Montevideo that his country was going through a second energy transition.
The Argentine province of Rio Negro has rephrased its hydrocarbons law so that oil may be transported through the pipelines to be built in the San Matías Gulf, despite warnings from environmentalist groups, it was reported Tuesday.
The Brazilian state of Rio Grande do Sul has signed a three-year memorandum of understanding with Neoenergia, a subsidiary of the Spanish giant electricity energy corporation Iberdrola, for the development of offshore wind power, plus a project for the production of green hydrogen.
The Organization of Oil Exporting Countries (OPEC) Monday decided to cut their output of crude and put on sale on international markets 100,000 bpds less daily as fears of a recession keep bringing down the price of crude.
The world's largest offshore wind farm is now fully operational, 55 miles off the coast of Yorkshire. The Hornsea 2 project with 165 turbines can generate enough electricity to power about 1.3 million homes - that's enough for a city the size of Manchester.
Brazil's state-run oil company Petrobras Thursday announced it would reduce the sale price of fuel to distributors from R$ 3.53 (US$ 0.67) to R$3.28 (US$ 0.63) per liter effective Friday.
A survey from Brazil's National Oil, Gas and Bio-fuels Agency, ANP, showed that the average price for a liter of gasoline in service stations across Brazil had dropped 2,77%, and this way the price is now R$ 5,25 this week, the lowest it has been since February 2021.
Argentina's state-run oil company YPF announced a mega port will be built in Río Negro to export oil from the Atlantic shore.