Tag: oil

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 - 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.
Wednesday, February 5th 2020 - 07:18 UTC
Consolidation and a FPSO platform in Brazil's Campo Basin

Brazil’s PetroRio SA has acquired a floating oil and gas platform type FPSO OSX-3 for US$140 million and 80% of the Tubarão Martelo oil field where the vessel is located, the field’s previous owner Dommo Energia SA said.
Wednesday, January 29th 2020 - 07:44 UTC
Guyana rapidly becoming an oil major: 16th discovery in four years of exploration

ExxonMobil today announced its 16 discovery in the Stabroek Block, located off the Guyanese coastline. The Texas-based company announced that it encountered 29 meters of high-quality oil-bearing sandstone at the Uaru well.
Tuesday, January 28th 2020 - 08:35 UTC
Maduro prepared to hand over the oil industry to foreign private companies

Venezuelan President Nicolas Maduro is considering selling shares of the country's state-owned oil company, Petroleos de Venezuela SA, in an attempt to recover the country's petroleum industry and its dwindling production.
Monday, January 27th 2020 - 08:03 UTC
Deadly China virus impacts on oil prices while safe havens assets rally

Fears over the global economic impact of the deadly China virus sent oil prices plunging more than on Monday to extend last week's sell-off, while safe-haven assets including the yen and gold rallied.
Friday, January 24th 2020 - 08:44 UTC
Record oil production in Brazil during 2019

By Irina Slav for Oilprice.com – Brazil produced more than 1 billion barrels last year, the first time it has breached the 1-billion-barrel mark, according to reports from the country’s oil regulator, ANP. The daily average stood at 3.106 million bpd, up 7.78% on 2018, ANP also said.
Tuesday, January 14th 2020 - 09:50 UTC
Chile's oil company ENAP faces sanctions for hydro-fracking in Tierra del Fuego

$The country’s environmental superintendent (the SMA) said ENAP had failed to follow protocols in its permits for so-called “hydro-fracking” activities$

Chile’s environmental regulator on Monday charged state oil company ENAP with improper fracking in Tierra del Fuego, a wild, largely unpopulated region at the southern fringe of the South American continent.
Tuesday, December 31st 2019 - 13:15 UTC
On request from Alberto Fernandez, YPF rolls back a 5% increase in fuel prices

Argentine president Alberto Fernandez asked the state-managed oil company YPF to roll back a 5% increase on fuels scheduled to become effective, January first, and which would have a major impact on inflation and food prices.