By Irina Slav for Oilprice.com – Oil super-major Shell is leaving the Permian with a divestment worth close to US$10 billion. The company said it will sell its assets in the shale play to ConocoPhillips for a total price of US$9.5 billion.
By Irina Slav for Oilprice.com – China made headlines last week with the news that it was going to release some crude oil from its strategic petroleum reserve and sell it in a move Bloomberg called “an unprecedented intervention.”
The Organization of Petroleum Exporting Countries plus a group led by Russia, OPEC+1 ignored requests from United States president Joe Biden and agreed on Wednesday to continue raising oil output in measured steps as originally agreed.
The Government of Uruguay Monday announced a small reduction in the price of fuel at pumps due to the use -for the first time- of the new Import Parity Price (PPI) adjustment formula devised by the current administration.
Brazil's President Jair Bolsonaro has issued a decree ordering all federal agencies to cut down electricity consumption between 10 and 20% from September to April 2022, in the face of an unprecedented shortage in supply from less expensive sources.
Six people were initially reported injured and taken to hospitals in nearby Campeche Sunday after a Petroleos Mexicanos (Pemex) offshore platform in the Gulf of Mexico was set ablaze following an explosion.
A major corruption scandal is unfolding in Uruguay with a pet project from former president Jose Mujica, which he tried to implement during his mandate, 2010/2015, but failed with accumulated losses of at least US$ 300 million.
Brazilian President Jair Bolsonaro Thursday announced in his weekly broadcast on social media that his country had started negotiations to purchase gas from Argentina's Vaca Muerta. “It is not easy to start importing gas, creating, building pipelines,” Bolsonaro said.
Exploration and development of oil and gas resources in the ex Dutch colony of Suriname, now an independent country, was the main point of the agenda addressed by Brazilian foreign minister Carlos Franca and his Surinamese peer Albert Randim, during a meeting held in Brasilia.
Brazilian president Jair Bolsonaro is fighting back his collapse in public opinion polls ahead of next year's what seems certain his reelection bid, by reaching out to what he once described as corrupt political parties and system, but also with more handouts to the vulnerable population.