Energy & Oil

Friday, September 23rd 2022 - 10:10 UTC
England announces pause in “fracking moratorium” to bolster energy security

$UK had halted fracking, or hydraulic fracking, in 2019 over fears that the procedure could trigger earthquakes.$

The UK government on Thursday lifted England's moratorium on the fracking process to extract oil and gas, saying the move aims to shore up energy security as Russia cuts gas deliveries amid tensions over its invasion of Ukraine and the intensification of the war.
Thursday, September 22nd 2022 - 09:35 UTC
Germany to nationalize gas giants to secure energy supplies and war in Ukraine

Germany is to nationalize gas giant Uniper to secure energy supplies amid the war in Ukraine. The deal will see the German government take on a 98.5% stake in the firm at a cost of €8.5bn (£7.4bn).
Tuesday, September 20th 2022 - 10:19 UTC
Iran trying to recover the Chinese oil market share which Russia has taken over

Iran is reportedly gearing up to slash the price of its sanctioned crude oil stored offshore Singapore, in an attempt to recover the China market from Russia, reports The Straits Times quoting local industry sources.
Monday, September 19th 2022 - 09:37 UTC
Puerto Rico powerless as Hurricane Fiona makes landfall

Puerto Rico has been left without electricity as Hurricane Fiona made landfall with winds of up to 160.9 kilometers per hour, amid residents fearing an encore of the devastation left by Hurricane Maria in 2017. US President Joseph Biden declared a state of emergency on the island.
Friday, September 16th 2022 - 09:37 UTC
Drilling in search of oil in Paraguay to continue

Despite previous comments that there was no commercial oil available in Paraguay's soil, President Energy is to drill its third well in the Chaco region, it was announced Thursday.
Wednesday, September 14th 2022 - 19:52 UTC
Slight cut in price of Paraguayan fuel labeled insufficient

Paraguay's state-run oil company Petropar has announced a reduction of PYG 250 (US$ 0.036) for liquefied petroleum gas (LPG), marketed under the brand Ñande, and of PYG 150 (US$ 0.022) for 88-octane gasoline known as Kape, effective this coming Friday.
Wednesday, September 14th 2022 - 09:42 UTC
Uruguay going through “2nd energy transition,” minister says

Uruguay's Industry Minister Omar Paganini Tuesday said during the traditional rural Expo Prado fair in Montevideo that his country was going through a second energy transition.
Wednesday, September 14th 2022 - 09:31 UTC
Argentine province of Rio Negro legislates in favor of oil pipeline

The Argentine province of Rio Negro has rephrased its hydrocarbons law so that oil may be transported through the pipelines to be built in the San Matías Gulf, despite warnings from environmentalist groups, it was reported Tuesday.
Monday, September 12th 2022 - 10:04 UTC
Wind energy and green hydrogen projects in Rio Grande do Sul target 13% of power demand

The Brazilian state of Rio Grande do Sul has signed a three-year memorandum of understanding with Neoenergia, a subsidiary of the Spanish giant electricity energy corporation Iberdrola, for the development of offshore wind power, plus a project for the production of green hydrogen.
Monday, September 5th 2022 - 18:31 UTC
OPEC to cut down oil output to keep price stable

The Organization of Oil Exporting Countries (OPEC) Monday decided to cut their output of crude and put on sale on international markets 100,000 bpds less daily as fears of a recession keep bringing down the price of crude.