Energy & Oil

• Wednesday, February 23rd 2022 - 09:58 UTC

  Fitch warns about sanctions to Russia's oil and gas sector: barrel could exceed US$100

  

  If Western sanctions lead to Russia’s oil exports being completely cut off, the world can expect the international energy market to collapse, a senior figure at the US rating agency Fitch said on Tuesday.

• Wednesday, February 23rd 2022 - 09:40 UTC

  “Europeans welcome to the new world and much dearer natural gas,” former Russian president Medvedev

  

  Europeans will soon have to pay €2,000 ($2,200) per thousand cubic meters of natural gas, former Russian president and current deputy chairman of the Security Council Dmitry Medvedev tweeted on Tuesday. The warning comes after Germany ordered a halt to Nord Stream 2 gas pipeline certification.

• Tuesday, February 22nd 2022 - 21:50 UTC

  Iran to further help Venezuela regarding oil and other issues

  

  Venezuela's Foreign Minister Félix Plasencia and his Iranian Petroleum colleague Javad Owji Tuesday signed an agreement to deepen mutual cooperation in the area of hydrocarbons.

• Tuesday, February 22nd 2022 - 09:57 UTC

  Middle East OPEC members with no plans to increase output: “caution” is the name of the game

  

  As crude prices steadily climb to US$ 100 a barrel, Middle Eastern OPEC producers have no plans to increase production beyond their OPEC+ quotas, a gathering of ministers this weekend has made clear. The energy minister of the biggest oil producer in the cartel, Saudi Arabia, said that the pandemic had taught oil-producing nations one thing, and that was caution, writes Irina Slav for oilprice.com.

• Saturday, February 19th 2022 - 07:50 UTC

  Historic shift for US: from net crude exporter in 2020, to net importer in 2021 and 2022

  

  By Michael Kern for Oilprice.com - Higher net crude oil imports are set to make the United States a net petroleum importer this year again, as in 2021, after a historic shift of being a net petroleum exporter in 2020, the U.S. Energy Information Administration (EIA) said on Friday.

• Tuesday, February 15th 2022 - 20:42 UTC

  Ancap refinery becomes National Historic Monument in Uruguay

  

  A refinery belonging to Uruguay's state-run oil company Ancap has been declared a National Historic Monument for its unique architectural design, it was announced.

• Saturday, February 12th 2022 - 09:24 UTC

  Fuel goes up in Paraguay, but tanking up in Argentina not an option

  

  The state-run oil company Petróleos Paraguayos (Petropar) has announced an increase in the price of fuel at pumps effective Saturday, Feb. 12, despite previous announcements that there would be no changes until the end of the month.

• Tuesday, February 8th 2022 - 21:54 UTC

  Bolivia to change Hydrocarbons Law to increase gas output

  

  Bolivia's Deputy Minister of Exploration and Exploitation Daniel Mayta Jiménez Tuesday said that following the discovery of the Margarita 10 well and in a move to foster investment and encourage production, the Hydrocarbons Law 3058 -enacted May 17, 2005- needed changing.

• Tuesday, February 8th 2022 - 21:46 UTC

  Two people needed hospitalization due to oil spill off Peru's shore

  

  Two people have been hospitalized as a result of the effects of contaminated Pacific Ocean waters stemming from the Repsol oi spill off Callao, Peruvian authorities said Tuesday.

• Monday, February 7th 2022 - 20:14 UTC

  Argentina's YPF to invest US $ 90 million in solar energy

  

  Argentina's Cabinet Chief Juan Manzur Monday presided over the ceremony during which the State-run oil company YPF announced it will invest U$S 90 million to develop a solar energy park in Ullum, in the province of San Juan, where radiation suits best these type of undertakings.