Energy & Oil

• Monday, February 26th 2024 - 04:18 UTC

  UK goes full Net Zero: quits treaty allowing companies to sue green economy policies

  

  Calling it “outdated” the United Kingdom has withdrawn from an international treaty that lets fossil-fuel companies sue governments pursuing climate policies for billions in compensation for lost profits.

• Saturday, February 24th 2024 - 10:24 UTC

  Argentina: Chubut Governor threatens to cut oil supply if federal funds are withheld

  

  Chubut Governor Ignacio Torres Friday warned Argentine President Javier Milei that his province would stop exporting oil if the federal administration insisted on “improperly withholding half of the [so-called] co-participation” funding. “If on Tuesday there is no resolution from the courts, we will not export even one more barrel of oil,” threatened Torres, whose stance was endorsed by several fellow governors and also by Buenos Aires Mayor Jorge Macri.

• Thursday, February 15th 2024 - 11:00 UTC

  Falklands' Borders & Southern Petroleum with new CEO at end of the month

  

  Falkland Islands oil exploring company, Borders & Southern Petroleum plc announced that Howard Obee has informed the Board that he intends to stand down as Chief Executive Officer.

• Tuesday, February 13th 2024 - 11:42 UTC

  Surplus from electricity exports benefits Brazilian customers

  

  Brazil totaled a surplus of R$ 888 million (US$ 179.26 million) from electricity sales to neighboring countries, which helped President Luiz Inácio Lula da Silva's administration ease the burden on Brazilian consumers, Agencia Brasil reported.

• Tuesday, February 13th 2024 - 10:55 UTC

  Trinidad and Tobago does not rule out foreign help to deal with oil spill

  

  Authorities in Trinidad and Tobago are not ruling out seeking international help to clean up the oil stain from a mysterious capsizing ship that is heavily affecting tourism and the environment along 15 kilometers of beaches there, Agencia Brasil reported.

• Monday, February 12th 2024 - 10:32 UTC

  Explosion leaves key Buenos Aires neighborhoods powerless for hours

  

  Some 30,406 households were still without electricity in the Autonomous City of Buenos Aires (CABA) after an explosion Saturday of a generating substation of the Edesur company in the strategic Caballito neighborhood in the Argentine capital left some 60,000 users powerless for hours, after which service was gradually restored, the (National Entity Regulating Electricity (Ente Nacional Regulador de la Electricidad - ENRE) reported Sunday.

• Monday, February 12th 2024 - 09:57 UTC

  Oil leak off Trinidad and Tobago causes national environmental emergency

  

  An oil leak from an unflagged overturned ship named Gulfstream off the coast of Trinidad and Tobago has led Prime Minister Keith Rowley to declare Sunday a national emergency because the situation along some 15 km of coastline in Tobago is “not under control.” The mystery vessel capsized Wednesday off the coast of the Cove Eco-Industrial Park in southern Tobago, and currents have dragged the boat shoreward.

• Monday, February 5th 2024 - 10:53 UTC

  Falklands oil industry: UK complete support, but no financial backing for islands’ bonds

  

  Exploring the viability of the oil industry in the Falkland Islands is building up since its Readiness program in 2014 and has been further boosted by recent agreements among companies interested in developing potential projects, but it recently also faced an unexpected technical hurdle from the UK Treasury Department. Nevertheless, London once again ratified support for the Falkland's right to explore and exploit its natural resources.

• Thursday, February 1st 2024 - 10:15 UTC

  Argentina: Fuel at pumps soars as gov't lifts taxation cap

  

  Drivers lined up for hours Wednesday in Buenos Aires and other places across Argentina as a new increase in the price of fuel at pumps was expected to be enacted Thursday following a decision by the administration of President Javier Milei to release a liquid fuel (ICL) and carbon dioxide (IDC) tax cap in force since 2021, it was reported.

• Friday, January 26th 2024 - 15:01 UTC

  Falklands advancing in making MPA energy sustainable with Mare Harbour Wind Farm

  

  Following approval from ExCo on Tuesday 23 January, the Falkland Islands Government in joint working with British Forces South Atlantic will be able to proceed with “in principle approval” for Phase Two of the Mare Harbour Wind Farm.