Tag: oil

• Tuesday, October 21st 2025 - 08:26 UTC

  Oil heading below US$ 50 per barrel anticipates Energy Agency

  

  When oil prices in the international market are sliding faster than expected, already in the range of US$ 50 the barrel, the International Energy Agency, IEA in its latest report anticipated that because of soaring “supply and subdued demand”, oil oversupply will be larger than expected, both in 2025 and 2026. IEA warns that while demand growth is down, supply growth will lead to a record supply overhang, since oil stocks are already soaring, mainly that stockpiled in tankers in water.

• Tuesday, October 21st 2025 - 08:23 UTC

  Mexico shipping oil to energy starved Cuba

  

  So far this year, Mexico has shipped more than US$ 3 billion worth of subsidized fuel to Cuba through Gasolinas Bienestar, a subsidiary of Pemex, according to an investigation by Mexicanos Contra la Corrupción y la Impunidad (MCCI), as reported by OilPrice.

• Tuesday, September 2nd 2025 - 10:24 UTC

  Brazil reaches all-time high in oil and gas output

  

  Brazil surpassed the barrier of 5 million barrels of oil and natural gas produced per day for the first time ever, the National Agency of Petroleum, Natural Gas and Biofuels (ANP), the regulatory agency for the oil and gas industry, announced Monday. The achievement was recorded in July this year, it was also explained.

• Wednesday, July 3rd 2024 - 23:00 UTC

  Falklands: Navitas updates emission assessment of Sea Lion environmental impact statement

  

  The Israeli/US company preparing to extract oil from Falkland Islands waters, Navitas Petroleum Development and Production Ltd. (Navitas) has issued a revised Environmental Impact Statement (EIS) concerning its proposals for the drilling of oil wells and offshore production from the Sea Lion Field Northern Development Area, Phase 1 and 2, which includes additional information on atmospheric emissions.

• Tuesday, May 14th 2024 - 10:26 UTC

  Russia claims to have found huge oil reserves in Antarctica; UK feels it could mean a complete new ball game

  

  The House of Commons’ Environmental Audit Committee (EAC) held a special session on Russian oil exploration in the polar region, following on claims that the Rosgeo oil exploration company had reported that its research vessel Alexander Karpinsky has completed a comprehensive subsurface geological survey, mapping very promising oil and gas prospects on the Antarctic oil shelves.

• Monday, February 26th 2024 - 11:44 UTC

  Patagonian governors threaten to cut oil and gas output

  

  The Governors of Argentina's Patagonian provinces said Sunday that they would cut oil and gas output starting Wednesday if Chubut's funds are not wired by then from the federal administration of President Javier Milei. The announcement was made after Governors Ignacio Torres (Chubut), Gustavo Melella (Tierra del Fuego), Sergio Ziliotto (La Pampa), Claudio Vidal (Santa Cruz), Rolando Figueroa (Neuquén), and Alberto Weretilneck (Río Negro) convened to join forces.

• Saturday, February 24th 2024 - 10:24 UTC

  Argentina: Chubut Governor threatens to cut oil supply if federal funds are withheld

  

  Chubut Governor Ignacio Torres Friday warned Argentine President Javier Milei that his province would stop exporting oil if the federal administration insisted on “improperly withholding half of the [so-called] co-participation” funding. “If on Tuesday there is no resolution from the courts, we will not export even one more barrel of oil,” threatened Torres, whose stance was endorsed by several fellow governors and also by Buenos Aires Mayor Jorge Macri.

• Tuesday, January 23rd 2024 - 17:31 UTC

  Promising update for Sea Lion development and Falklands' oil industry

  

  Rockhopper Exploration PLC has released a corporate update in which it refers to the recent release published by Navitas Petroleum LP on the Sea Lion development in the North Falkland basin. The release includes an updated development plan to align with their static and dynamic reservoir models, resulting in the increase in certified resources in an updated NFB independent resource report conducted by Netherland Sewell & Associates on behalf of Navitas.

• Thursday, September 28th 2023 - 08:37 UTC

  UK implements a U-turn in climate policy and opens largest oilfields in North Sea to exploration and production

  

  The United Kingdom approved the exploration and exploitation of oil and gas in its largest undeveloped field, the North Sea Transition Authority, the responsible regulatory body said on Wednesday.

• Thursday, September 28th 2023 - 08:35 UTC

  Guyana: oil and time

  

  By Gwynne Dyer – Guyana is not a “hellhole country” of the sort Donald Trump complained about when he said he wanted immigrants to come to the US from white places like Norway instead, but it did used to be poor, tropical and largely populated by people of color.