Tag: oil

• Wednesday, January 16th 2019 - 08:42 UTC

  Massive organized fuel theft in Mexico, denounces Lopez Obrador

  

  Mexican President Andres Manuel Lopez Obrador said on Tuesday that widespread fuel theft extended to oil drilling platforms and he pledged to take actions to alleviate shortages sparked by his crackdown on gasoline thieves.

• Monday, January 7th 2019 - 09:03 UTC

  Oil Is at the mercy of Financial Markets

  

  Oil prices regained more ground on Wednesday, pushed higher after equity markets rebounded from an initial selloff at the start of 2019 trading. The price gains are not entirely convincing. WTI and Brent posted strong gains, each up more than 3 per cent by midday in New York, but come largely after U.S. equity markets shook off an earlier bout of pessimism.

• Friday, January 4th 2019 - 09:10 UTC

  YPF 2012 nationalization case reaches US Supreme Court: US$ 2.5bn at stake

  

  The US Supreme Court will hear this Friday an appeal against an intermediate court decision accepting jurisdiction over Argentina and its majority state-owned oil giant YPF, in a case relating to YPF’s 2012 re-nationalization by Argentina, then under the rule of ex-president Cristina Fernandez.

• Friday, December 28th 2018 - 08:55 UTC

  Oil prices remain under pressure from US stockpiles and concerns with the global economy

  

  Oil prices jumped as much as 3% on Friday to win back a chunk of the ground they lost in the previous session, but growth in U.S. crude stockpiles and ongoing concerns about the global economy kept markets under pressure.

• Wednesday, December 26th 2018 - 08:55 UTC

  Petrobras plans to invest US$ 84bn mainly in pre-salt areas by 2023

  

  Petrobras has unveiled plans to invest US$ 84.1bn in deepwater exploration and production projects in Brazil, as well as raise $27bn through asset sales and partnerships by 2023. Around US$ 69bn of the planned investment will be channelled into the development of production in the pre-salt areas. Other key focus areas of investment include refining, transportation, trading, and natural gas and petrochemicals.

• Thursday, December 20th 2018 - 08:38 UTC

  What’s Behind The Crash In Crude?

  

  Oil prices crashed to new one-year lows on Tuesday, dragged down by a deepening sense of global economic gloom as well as fears of oversupply in the oil market itself.

• Monday, December 17th 2018 - 08:49 UTC

  Oil trader Trafigura ex officials face corruption charges in Brazil involving Petrobras

  

  Brazilian prosecutors on Friday charged two former executives of oil trader Trafigura over allegations of paying at least US$ 1.5 million in bribes to employees of Petrobras. Prosecutors said in a statement that the charges against Mariano Marcondes Ferraz, a former Trafigura top executive, and Marcio Pinto Magalhaes, a country representative, were the first of many to come against the world’s largest oil traders.

• Saturday, December 8th 2018 - 09:30 UTC

  Brazil environment regulator denies license to drill near mouth of the Amazon

  

  Brazil's environmental regulator on Friday denied French oil giant Total a license to drill for crude in five blocks near the mouth of the Amazon river. Regulatory agency Ibama said the license was denied “due to a set of technical problems” identified during the application process.

• Thursday, December 6th 2018 - 09:47 UTC

  Venezuela importing 300.000 bpd of refined products to ease fuel shortage

  

  Venezuela this month plans to import over 300,000 barrels per day (bpd) of refined products to ease domestic fuel shortages caused by hobbled refineries and need to prioritize exports, according to internal documents, reports Reuters.

• Thursday, December 6th 2018 - 09:32 UTC

  YPF and Malaysia's Petrona committed to invest US$ 2.3bn in Vaca Muerta

  

  Argentina's state-run energy company YPF and Malaysia's Petronas agreed this week to invest US$ 2.3 billion in a shale oil project in Vaca Muerta, with a target of reaching 60,000 b/d of oil equivalent by 2022. The investment will be in La Amarga Chica, where the companies have been testing the shale oil potential since 2015 and have spent US$ 550 million to date in the process, YPF said in a statement.