Energy & Oil

Tuesday, March 3rd 2020 - 08:29 UTC
Brazil increases bio-content of blended diesel to 12% from 11%

Brazil increased the volume of biodiesel blended with diesel sold at the pump to 12% from 11% on Sunday, the latest increase to a biofuels mandate that aims to decrease Latin America's largest economy's dependence on imported barrels.
Monday, March 2nd 2020 - 19:54 UTC
Crucial election in oil rich Guyana; economy forecasted to grow 85% this year, IMF

Guyana goes to the polls this Monday in a pivotal election in one of South America's poorest nations, where a coming oil boom is set to reshape an ethnically-divided political landscape.
Monday, February 24th 2020 - 06:38 UTC
Petrobras workers end three weeks strike, after arbitration call by labor court

Workers at Brazil’s state-owned oil giant Petrobras have ended a strike of nearly three weeks that left the firm scrambling to avoid a drop in production, labor unions said last Friday. Around 21,000 workers — a third of the total workforce — joined the mass walk-out at the start of the month.
Monday, February 24th 2020 - 06:33 UTC
Petrobras record profit for 2019, basically on divesting and asset sales

Brazil’s state-run oil firm Petrobras reported last week a record net profit for 2019, thanks to asset sales under its strategy to divest non-core operations and focus on the deepwater pre-salt region offshore Brazil.
Thursday, February 20th 2020 - 18:10 UTC
Oil workers on strike against Petrobras privatization plans

Brazilian oil workers and oil giant Petrobras were locked in a power struggle over the company’s privatization plans, with the union saying thousands of employees are on an indefinite strike.
Wednesday, February 19th 2020 - 06:42 UTC
Cuba short of oil forced to burn old tyres to power factories

The Cuban government has ordered a cement factory to burn old tyres to power its operations and save on oil, amid a worsening fuel shortage brought on by US sanctions on the Communist island.
Monday, February 17th 2020 - 08:50 UTC
Venezuela urgently shipping oil to fuel-short Cuba and its crippled its sugar and tourism industries

Venezuela's state energy firm PDVSA has been shipping more oil this month to close ally Cuba, as tighter U.S. sanctions have worsened fuel shortages on the Caribbean island, according to sources.
Friday, February 14th 2020 - 08:40 UTC
Ex head of Mexican oil firm Pemex arrested in Spain on corruption charges

Spanish police this week arrested Emilio Lozoya, the former chief executive of Mexico’s state oil firm Pemex, giving President Andres Manuel Lopez Obrador his first high-profile win in his government’s anti-corruption drive.
Wednesday, February 12th 2020 - 08:40 UTC
Chinese company confident it will start its US$ 2,1 billion iron ore project in Brazil

Chinese mining company Sul Americana de Metais (SAM), a unit of China’s Honbridge Holdings, is confident it will receive the necessary permits to start up its US$ 2.1 billion iron ore project in Minas Gerais, its chief executive said.
Wednesday, February 12th 2020 - 07:43 UTC
World's largest oil traders investing in climate friendly projects, but profits remain a big question mark

The world's largest oil traders are pouring hundreds of millions of dollars into climate-friendly projects: including wind farms, cow manure plants, and blue hydrogen: as they seek to match the profits they make from trading oil.