Energy & Oil

• Wednesday, February 19th 2025 - 09:13 UTC

  Brazil announces plans to join OPEC+

  

  Brazilian authorities announced Tuesday the South American country's decision to join the Organization of 13 Petroleum Exporting Countries (OPEC) and 10 observer nations, commonly referred to as OPEC+. According to Mines and Energy Minister Alexandre Silveira, the move would in in line with Brazil's goals and would not collide with its environmental commitments. Brazil will participate in the OPEC Cooperation Charter, a forum for discussing oil market strategies without binding obligations to follow cartel policies like production cuts.

• Monday, February 17th 2025 - 10:19 UTC

  Brazil: Offshore oil platform begins pre-salt operations

  

  Brazilian authorities announced Saturday that the Almirante Tamandaré (Búzios 7) offshore oil production platform, the largest in the country, began operating in the Búzios Field, in the Santos Basin, around 180 kilometers off Rio de Janeiro. The platform ship can process up to 225,000 barrels of oil and 12 million cubic meters of natural gas per day.

• Thursday, February 13th 2025 - 20:17 UTC

  Brazilian scientists find enzyme that can transform waste into biofuel

  

  Scientists at Brazil's National Center for Research in Energy and Materials (CNPEM) have discovered a biocatalyst called CelOCE (Cellulose Oxidative Cleaving Enzyme) stemming from a soil bacteria, which can transform waste into biofuel. The enzyme, isolated from bacteria found in sugarcane bagasse, enhances the breakdown of cellulose, increasing glucose release by up to 21%. The study showing these findings was published Thursday in the journal Nature.

• Thursday, February 13th 2025 - 13:20 UTC

  Cuba going through one of its worst electricity-generation crises

  

  Cuba has been reported to be facing severe power outages after the unexpected breakdown of the Felton 1 Thermoelectric Power Plant, worsening the situation in Havana and other parts of the island. The State-run National Electric Union (UNE) said numerous generation plants were out of service due to fuel shortages, local authorities blaming the US economic blockade for their hardships, when in reality infrastructure failures and poor maintenance to already obsolete equipment were other contributing factors. A total of 57 generation plants in the country, in addition to two floating units, were affected by the lack of fuel.

• Thursday, February 13th 2025 - 01:18 UTC

  Uruguay's Green Energy Success Story Takes an Unexpected Turn

  

  Uruguay has been considered a leading country in renewable energy, with 98% of its energy eolic, but now has surprisingly has invited foreign companies to explore for offshore oil and gas reserves, attracting some of the heavy weights of he industry, which has generated certain controversy in the country regarding concerns about the impact on marine life and the potential damage to Uruguay’s current global standing. OilPrice, which specializes in the oil and gas industry information comments on the decision.

• Wednesday, February 12th 2025 - 09:48 UTC

  Bolivia's lithium company says deal with Chinese partners is risk-free

  

  Yacimientos de Litio Bolivianos (YLB) Legal Manager Pablo Nina warned Tuesday that the Chinese company Hong Kong CBC has three years to extract a mineral with 99.5% purity and 80% recovery in the raw material processing or face the dismantling of its two battery-grade lithium carbonate production plants in the Uyuni salt flat and leave the country.

• Wednesday, January 22nd 2025 - 08:15 UTC

  Colombian company signs partnership with Bolivia's YPFB

  

  Bolivia's state-run oil company signed Tuesday a series of agreements with Colombia's Canacol representing an investment of up to US$ 270 million for hydrocarbon exploration and exploitation undertakings in the Ovai, Florida Este, Arenales, and Tita-Techi areas, all of them in the department of Santa Cruz.

• Friday, January 17th 2025 - 21:42 UTC

  Power cuts hit Buenos Aires Metropolitan Area and other parts of Argentina

  

  Several areas in the Buenos Aires Metropolitan Area (AMBA) and Rosario in the province of Santa Fe have been suffering prolonged power cuts which enraged residents who, in addition, were deprived of state subsidies on their electricity bills and are therefore paying full fare in exchange for... literally nothing.

• Thursday, January 16th 2025 - 13:48 UTC

  German economy shrinks second year running; lack of Russian gas and Chinese industry hit hard

  

  The German economy, the heart of European Union dynamism shrank by 0.2% in 2024, the second year in a row, according to Destatis, the German Federal Stats Office. In 2023, the German GDP, Europe’s largest contracted by 0,3%.

• Wednesday, January 15th 2025 - 21:09 UTC

  Chile's ENAP announces diesel production from used cooking oil

  

  Chile's state-run oil company ENAP (Empresa Nacional del Petróleo) announced Wednesday that the South American country has proven able to produce renewable diesel out of used cooking oil. “A new step towards a greener Chile! ENAP presents its new renewable diesel, made from used cooking oil,” a statement read.