Tag: oil

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.
Thursday, December 26th 2019 - 11:49 UTC
Saudi Arabia and Kuwait agree to resume oil production in the shared Neutral Zone

Saudi ARAMCO said on Wednesday a new agreement between Saudi Arabia and Kuwait paves the way for the resumption of oil production in the Neutral (partitioned) Zone shared by the two countries.
Monday, November 25th 2019 - 09:46 UTC
Brazilian oil spill keeps advancing and has reached the north of Rio do Janeiro state

Oil from a spill that has contaminated a stretch of Brazil's coast was detected in Rio de Janeiro state, the navy said over the weekend, as President Jair Bolsonaro warned the country was preparing for the worst.
Saturday, November 23rd 2019 - 09:04 UTC
Mexico's giant Pemex, remains world's most indebted oil company

A Mexican government energy policy that gives more weight to state oil company Pemex could cause private sector investment to fall, an analyst with credit ratings agency Standard & Poor’s said on Friday.
Thursday, November 7th 2019 - 09:43 UTC
Brazil's oil fields auction falls well short of expectations: US$ 17bn instead of US$ 26bn targeted

Brazil's auction of drilling rights to four deep-sea oil fields raised a disappointing US$17 billion on Wednesday, officials said, well short of expectations for the highly-anticipated mega sale.