Energy & Oil

• Saturday, April 18th 2026 - 02:53 UTC

  Uruguayan court rejects injunction against offshore seismic prospection, allowing exploration to continue

  

  A Montevideo civil court dismissed an injunction filed by social organizations and fishing industry unions against seismic prospection activities for hydrocarbon exploration in Uruguay's exclusive economic zone, allowing operations by the company Viridien (CGG Services) to continue on an offshore block assigned to oil major Chevron.

• Friday, April 17th 2026 - 21:42 UTC

  Iran declares Hormuz “fully open” until ceasefire ends; Trump insists on keeping Iranian port blockade

  

  Iran announced on Friday that the Strait of Hormuz will remain “fully open” to merchant shipping until the ceasefire with the United States expires next Wednesday. The decision, linked to the start of the 10-day truce between Israel and Lebanon announced by Trump on Thursday, triggered an immediate drop in oil prices of nearly 10% and strong relief across global markets.

• Monday, April 13th 2026 - 21:52 UTC

  Tankers turn back at Hormuz as crude jumps over 4% on US blockade

  

  Two oil tankers reversed course as they approached the Strait of Hormuz on Monday, just hours after the US naval blockade against Iranian ports took effect, according to maritime tracking platform MarineTraffic. Brent crude for June delivery closed up 4.4% at $99.36 per barrel, while US benchmark WTI rose 2.6% to $99.08, according to Bloomberg.

• Monday, April 13th 2026 - 21:37 UTC

  Venezuela expands Chevron operations in Orinoco Belt following hydrocarbon reform

  

  Venezuela's government on Monday signed an agreement expanding US oil company Chevron's operations in the country, weeks after a hydrocarbon reform opened the sector to private and foreign investment. The signing ceremony took place at the Miraflores presidential palace in Caracas.

• Friday, April 10th 2026 - 15:26 UTC

  Brazil's inflation rises to 4.14% in March driven by higher fuel and food costs

  

  Annual inflation in Brazil accelerated to 4.14% in March, pushed higher by rising fuel and food prices, the Brazilian Institute of Geography and Statistics (IBGE) reported on Friday. The figure reverses the slowdown recorded in February, when the index had eased to 3.81%.

• Thursday, April 9th 2026 - 23:57 UTC

  Argentina approves glacier law reform, opens previously protected areas to mining

  

  Argentina's Chamber of Deputies passed a reform of the National Glacier Law in the early hours of Thursday, an initiative pushed by President Javier Milei's government that reduces the scope of environmental protections in the Andean cordillera and opens previously restricted areas to mining. The vote was 137 in favor, 111 against and 3 abstentions, after more than eleven hours of debate in a special session. The bill had already been approved by the Senate.

• Thursday, April 9th 2026 - 07:40 UTC

  Uruguay considers relocating HIF Global's green hydrogen megaplant to ease tensions with Argentina

  

  Uruguay's government is considering relocating within the department of Paysandú the synthetic fuels plant planned by multinational HIF Global, in an effort to simultaneously defuse diplomatic tensions with Argentina and advance what would be the largest private investment in the country's history, estimated at $5.385 billion in its final phase.

• Thursday, April 9th 2026 - 01:08 UTC

  Brazilian judge suspends 12% crude oil export tax for five international oil companies

  

  A federal judge in Rio de Janeiro issued a preliminary injunction suspending the 12% crude oil export tax for five international companies operating in Brazil: Shell, TotalEnergies, Equinor, Repsol Sinopec and Petrogal. The ruling represents an initial court victory for the oil companies in their dispute with President Luiz Inácio Lula da Silva's government over a levy they consider unconstitutional.

• Wednesday, April 8th 2026 - 21:11 UTC

  QatarEnergy and Chevron join Shell in Uruguay's offshore oil exploration

  

  QatarEnergy and Chevron have formally entered as non-operating partners in offshore hydrocarbon exploration blocks off Uruguay's coast, in areas operated by Shell, state energy company Ancap announced. The incorporation of two of the world's largest energy companies reinforces international interest in Uruguay's offshore petroleum potential, a frontier exploration area that has gained prominence over the past two years.

• Tuesday, April 7th 2026 - 21:06 UTC

  “Has anyone talked about democracy? No”: OEI secretary criticizes Trump's oil-driven approach to Venezuela

  

  The secretary general of the Organization of Ibero-American States for Education, Science and Culture (OEI), Mariano Jabonero, said that US President Donald Trump's primary interest in Venezuela is energy-related and has nothing to do with promoting democratic values or civilization.