Energy & Oil

Thursday, December 9th 2021 - 09:30 UTC
Brazil working to create a price stabilization fund for gasoline, diesel and LNG

The Brazilian government in coordination with Congress are working on the creation of a price stabilization fund for fuels in an attempt to isolate the country from the volatility of international prices of oil and refined products. The fund is to be financed mainly with a tax on oil exports, helping with stability to domestic prices of gasoline, diesel and liquid gas.
Thursday, December 9th 2021 - 09:00 UTC
World Bank approves Renewable Energy Project loans to Cabo Verde, Africa

The World Bank on Wednesday approved an International Development Association credit in the amount of US$3.5 million and an International Bank for Reconstruction and Development loan in the amount of US$ 3.5 million for the Renewable Energy and Improved Utility Performance Project (REIUP) for Cabo Verde in Western Africa.
Monday, December 6th 2021 - 09:00 UTC
OPEC+ Expects Large Oil Glut In Early 2022

By Tsvetana Paraskova for Oilprice.com – OPEC+ anticipates the global oil market to show a worse-than-previously expected surplus in the first quarter of 2022, according to an internal report seen by Reuters, which could give the group another reason to pause monthly supply additions.
Saturday, December 4th 2021 - 09:31 UTC
Argentina pays Paraguay part of the US $ 45 million of overdue Yacyretá energy

Argentina Friday paid Paraguay US $ 19 million for overdue Yacyretá energy, Nicanor Duarte Frutos, head of Paraguay's side within Yacyretá's Binational Entity (EBY) announced.
Thursday, December 2nd 2021 - 09:55 UTC
Guedes insists in privatizing Petrobras, since the world is heading for “a green and digital economy”

Brazilian economy minister Paulo Guedes underlined on Wednesday that the announced privatization plan of the government (some 100 companies) must include oil giant Petrobras because the “future is green” and in not so many years time the value of crude will be zero.
Tuesday, November 30th 2021 - 09:00 UTC
OPEC+ meets Thursday to decide January cuts; pre-pandemic oil output level expected to be reached in May

By Tsvetana Paraskova for Oilprice.com – All Russian oil companies have confirmed they can raise production to the levels before the pandemic if the alliance chooses to proceed with monthly increases in output, Russian Deputy Prime Minister Alexander Novak said on Monday.
Thursday, November 25th 2021 - 09:55 UTC
Presidents of Brazil and Paraguay meet in Brasilia but reach no agreement on Itaipú rates

Brazil's President Jair Bolsonaro Wednesday did not concede an iota of what his Paraguayan counterpart Mario Abdo Benítez was seeking during a bilateral Summit in Brasilia to discuss Annex C of the Itaipú agreement regarding fees.
Thursday, November 25th 2021 - 09:33 UTC
Russian company finds oil off the coast of Tabasco in Mexico

Russia's Lukoil oil company Wednesday announced the finding of an oil reserve off the coast of Tabasco in Mexico believed to be worth 250 million barrels of crude. ”The reservoir was discovered when drilling the Yoti West-1EXP well from the semi-submersible platform Valaris 8505,” according to a company statement.
Wednesday, November 24th 2021 - 08:46 UTC
Bolsonaro favors reviewing Petrobras' formula to adjust price of fuel

Brazil's President Jair Bolsonaro Tuesday said he intended to have Petrobras' international parity system reviewed, although he fell short of disclosing how he planned to go about it.
Saturday, November 20th 2021 - 09:17 UTC
Why China and India aren’t the climate villains of COP26

By Daniel Parsons and Martin Taylor (*) – The Glasgow Climate Pact urges countries to “accelerate efforts towards phasing down”, rather than “phasing out”, coal power that isn’t mitigated by carbon capture and storage.