Bolivian President Luis Arce Catacora Monday announced the discovery of the YOPE-X1 hydrocarbon well in the municipality of Yapacani, in the department of Santa Cruz, it was reported.
Fatih Birol, head of the powerful International Energy Agency, (IEA),, the Paris-based organization led by the energy ministers of mostly rich countries, has warned that companies that increase fossil fuel production are contradicting goals to stop the planet warming.
President Vladimir Putin announced Russia was banning the supply of Russian oil and oil products to countries that impose a price cap, allowing deliveries to those nations only on the basis of a special permission from the Kremlin leader.
Argentina's Energy Secretariat extended until 2024 the oil offshore exploration permits of ExxonMobil and Qatar Petroleum (QP) to operate in the Argentine Sea, it was reported earlier this week in the Official Gazette.
Brazil's oil and natural gas production in the month of August of 2022 reached 3.967 million barrels per day (bpd), the National Agency of Petroleum, Natural Gas and Biofuels (ANP) reported Thursday in the Dynamic Panel of Oil and Natural Gas Production.
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.
During the first five months of the year Europe has overtaken Asia as the biggest buyer of US crude, having imported 213.1 million barrels, while Asia imported 191.1 million barrels, Bloomberg reported, citing Census Bureau data. This is the first time in six years that Europe has been a bigger buyer of U.S. crude than Asia.
Argentina's oil output reached its zenith in 20 years with 584,000 barrels per day (bpd) delivered in May of 2022, thanks mostly to unconventional developments, it was reported Tuesday.
Venezuela's oil output production fell 5% from May of 2022 to the previous month, according to the latest Organization of the Petroleum Exporting Countries (OPEC) released Tuesday.
Plunging demand for soy oil in China is expected to cut consumption of the oilseed in the world’s biggest user as lockdowns to prevent the spread of COVID have shuttered restaurants and canteens, according to traders and analysts. China is the world’s top consumer of edible oils, with millions of restaurants guzzling about half of the country’s roughly 17 million tons of soy oil, made from crushing soybeans.