Energy & Oil

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.
Monday, February 7th 2022 - 09:13 UTC
New gas well found in Bolivia, expected to generate millions of dollars

Bolivian President Luis Arce Catacora has confirmed over the weekend the discovery of large gas reserves which -he hoped- would yield substantial profits to the country.
Saturday, February 5th 2022 - 09:47 UTC
Former German chancellor criticized for being member of Russian energy companies' boards

In the midst of the conflicting situation between NATO and the US, with Russia, regarding a possible invasion of Ukraine and which has the European continent on the edge, a former German chancellor was appointed to the supervisory board of the Russian state-owned gas giant Gazprom, one of the largest energy corporations in the world.
Saturday, February 5th 2022 - 09:42 UTC
WTI crude surges above US$ 92 on Texas freezing weather

By Tsvetana Paraskova for Oilprice.com – WTI Crude, the U.S. oil benchmark, jumped to over US$ 92 per barrel early on Friday—its highest level since 2014, amid the Russia-Ukraine crisis and a deep freeze in Texas that disrupted some Permian oil production.