Energy & Oil

• Friday, February 4th 2022 - 09:50 UTC

  Ecuadorian authorities speak of “major disaster” following oil spill last week

  

  An oil spill in Ecuador in late January has been spreading over the past few days throughout the Yasuní area reaching unforeseen proportions, it was reported Wednesday.

• Thursday, February 3rd 2022 - 09:51 UTC

  OPEC+ confirms March output increase; oil remains bullish at US$ 90 since several members can't deliver

  

  By Tsvetana Paraskova for Oilprice.com – In the shortest meeting so far in its history, OPEC+ decided on Wednesday to increase the collective production by 400,000 barrels per day (BPD) in March, keeping unchanged the plan to boost output and pushing Brent above US$ 90 per barrel again with the per-usual modest production hike.

• Thursday, February 3rd 2022 - 09:40 UTC

  Gas and nuclear energies and the green economy: furious debate in Europe

  

  Are gas and nuclear clean energies in the drive to a green economy? The controversy has triggered a furious debate in the European Commission following proposed rules that, in effect under certain conditions, the two energies can be labeled “green investments”.

• Thursday, February 3rd 2022 - 09:33 UTC

  Further oil and gas discovery off the coast of Guyana

  

  More oil reserves discovered in Guyana, Canada's CGX Energy reported that together with parent Frontera Energy discovered an oil and gas reservoir off the coast of Guyana and anticipated drilling on a second well could begin later this year.

• Wednesday, February 2nd 2022 - 21:00 UTC

  Fuel goes up 9% in Argentina after long price freeze

  

  Argentina's state-run oil company YPF announced a price increase of around 9% in the price of fuel at pumps as of Wednesday, with 2 additional percentage points in the case of premium products.

• Wednesday, February 2nd 2022 - 11:58 UTC

  Falklands' Sea Lion project, Rockhopper, Harbour and Navitas extend heads of terms to 31 March 2022

  

  Rockhopper Exploration, Harbour Energy, and Navitas Petroleum have extended the provisions of their previously signed heads of terms concerning the Sea Lion project offshore the North Falkland Basin. The new deadline is March 31, 2022: the aim is to sign definitive documentation on the transaction by this date. Harbour plans to exit operations offshore the Falklands, leaving the other two partners to take the development forward.

• Tuesday, February 1st 2022 - 21:38 UTC

  China to help Argentina build new nuclear power plant

  

  Argentina's National Committee of Atomic Energy (CNEA) and the Chinese National Nuclear Corporation (CNNC) Tuesday signed a contract for the construction of the Atucha III Nuclear Power Plant, it was announced.

• Tuesday, February 1st 2022 - 09:55 UTC

  Repsol ordered to stop loading or unloading crude in Peru's Pacific waters

  

  Peruvian authorities Monday ordered Spanish oil company Repsol to stop loading and unloading crude oil on ships after a spill in January has caused a major environmental crisis in the Pacific Ocean off the province of Callao near Lima.

• Friday, January 28th 2022 - 09:45 UTC

  YPF granted loan to boost clean energy developments

  

  Argentina's state-run oil company YPF has been granted a US $ 300 million loans, which “shows the confidence of the markets in the results obtained by the company in 2021,” it was announced.

• Friday, January 28th 2022 - 09:34 UTC

  With help from Iran and China, Venezuela recovering part of its production

  

  By Felicity Bradstock for Oilprice.com – Venezuela appears to be following in Iran’s footsteps by starting to ignore U.S. sanctions on its oil industry to once again develop its substantial crude reserves. After years of stalling and losing out on international investment as well as vital revenues, Venezuela looks to be set to increase its oil production, fostering relationships with key export markets that are willing to risk U.S. retaliation to the move.