Energy & Oil

• Monday, November 30th 2020 - 09:34 UTC

  Oil-rich Middle East and its inevitable declining power

  

  By Gwynne Dyer – The only officials present were American and Saudi,” tweeted the Saudi Arabian foreign minister, Prince Faisal bin Farhan Al Saud, but he was lying. Israeli Prime Minister Benjamin Netanyahu really did fly in to Saudi Arabia to spend a few hours with Crown Prince Mohammed bin Salman and US Secretary of State Mike Pompeo.

• Friday, November 27th 2020 - 09:42 UTC

  Venezuela resumes direct shipments of oil to China despite US sanctions

  

  Venezuela has resumed direct shipments of oil to China after U.S. sanctions sent the trade underground for more than a year, according to Refinitiv Eikon vessel-tracking data and internal documents from state company Petroleos de Venezuela (PDVSA).

• Tuesday, November 24th 2020 - 09:22 UTC

  Chile expects a bull market for copper next year

  

  Chile’s copper production will likely rise by 0.6% to 5.82 million tons in 2020, state copper commission Cochilco said on Monday, and to 5.99 million tons in 2021. Cochilco estimated that the copper price will average US$ 2.75 per pound in 2020, before rising to US$ 2.90 per pound in 2021.

• Saturday, November 21st 2020 - 09:21 UTC

  Argentina presents incentives to attract investors for its “Gas Plan”

  

  Companies that participate in Argentina’s natural gas production plan will have free access to the official foreign exchange market, the central bank said this week, opening a loophole in tight capital controls that have been in place for more than a year.

• Tuesday, November 17th 2020 - 09:34 UTC

  Brazil is emerging as the world's leading offshore oil producer

  

  By Matthew Smith for Oilprice.com – Sharply weaker oil prices, the COVID-19 pandemic, and heightened geopolitical uncertainty have done little to blunt Brazil’s epic offshore oil boom. By September 2020 Brazil had soared to be the third-largest supplier of crude oil to China, the world’s second-largest economy.

• Tuesday, November 10th 2020 - 09:39 UTC

  US markets react strongly to president-elect Biden's announcement and Pfizer vaccines results

  

  The S&P 500 ended higher but closed just shy of a record on Monday as investors bet that a full economic reopening was finally in sight following the first positive data from a late-stage Covid-19 vaccine trial.

• Monday, November 9th 2020 - 09:21 UTC

  Petrobras expects increased production from the pre-salt offshore basin

  

  By Tsvetana Paraskova for Oilprice.com – Because of the increased production at the prolific pre-salt offshore basin, Petrobras expects its oil and gas production this year to exceed earlier guidance, Brazil’s state oil firm said when it reported its production figures for Q3.

• Saturday, November 7th 2020 - 08:40 UTC

  Four days blackout in Brazilian Amapa state: full service restoration in ten days

  

  A fire at an electricity substation has caused four days of blackouts in most of northern Brazil’s Amapa state, disrupting the lives of hundreds of thousands of people.

• Thursday, November 5th 2020 - 09:32 UTC

  Chilean mining industry lobby cautions about the rewriting of the new constitution

  

  Chile’s world-leading copper industry will see investment lag for at least two years as the country rewrites a constitution that underpinned nearly three decades of mining growth in the South American nation.

• Wednesday, November 4th 2020 - 09:35 UTC

  Peru with Canadian funds joins the South American lithium rush

  

  Canada’s Plateau Energy Metals has raised nearly US$ 600 million to develop Peru’s sole lithium project and expects to start mining in 2023, a year later than planned, as the country lags its neighbors in developing the battery mineral, a company official said.