During the first five months of the year Europe has overtaken Asia as the biggest buyer of US crude, having imported 213.1 million barrels, while Asia imported 191.1 million barrels, Bloomberg reported, citing Census Bureau data. This is the first time in six years that Europe has been a bigger buyer of U.S. crude than Asia.
Presidents Andrés Manuel López Obrador of Mexico and Joseph Biden of the United States Wednesday held their second face-to-face meeting, and the first since the Latin American leader chose not to attend last month's Summit of the Americas in Los Angeles following the White House's decision not to invite Cuba, Nicaragua, and Venezuela to the event.
Venezuela's flag carrier Conviasa has announced it will halt its Caracas-Buenos Aires route at least until September in light of the refueling problems all its aircraft face for belonging to a company blacklisted by the US Treasury.
Anticipating possible fuel shortages, particularly diesel, the Brazilian government is considering importing the fuel from Russia. Currently, only Petrobras imports diesel from India, the country which is refining Russian oil. Brazil's foreign ministry is already helping private companies with the necessary accreditation for such operations through Abicom, the fuel importers association.
Brazilian President Jair Bolsonaro has hinted he might purchase diesel from Russia after a telephone conversation with Vladimir Putin, who had reportedly vowed to guarantee the South American country a steady supply of fertilizers despite the ongoing war with Ukraine.
Caio Mário Paes de Andrade has been approved Monday as the new CEO of Brazil's state-run oil company to replace José Mauro Coelho, who lasted merely 68 days on the job.
Uruguay's oil refining and fuel distribution company Ancap announced on Friday that three blocks and exploration licenses in the country's maritime shelf had been awarded. Two of them were acquired by Shell and the third by Apache Corporation, including an exploratory well, in the framework of the Open Uruguay Round.
Argentina's oil output reached its zenith in 20 years with 584,000 barrels per day (bpd) delivered in May of 2022, thanks mostly to unconventional developments, it was reported Tuesday.
While Brazil's Energy Minister Adolfo Sachsida appeared Tuesday before the Lower House to answer questions about the current situation regarding the state-owned oil company Petrobras, the Government of President Jair Bolsonaro is concocting other strategies to curb the neverending increases in the price of fuel.
Germany will have to increase the burning of coal for electricity production, because of the cut in gas supplies from Russia, economy minister Robert Habeck announced, despite his Greem party's policy favoring green energy and eliminating fossil fuel.