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The never ending saga... (Reuters) - Labor activist Alejandro Bodart marched down the Buenos Aires streets two decades ago to protest against the International Monetary Fund, which many then blamed for austerity measures that sharpened Argentina's worst ever economic crisis. Now Bodart is on the war path again, worried that a new deal to roll... Continue Reading →
(Reuters) - Argentine state energy firm YPF (YPFD.BA) is close to signing a loan deal with a multilateral lender which could cover part of its $400 million debt obligations next year, its chief financial officer said on Thursday, which will free up funds for investment. Alejandro Lew said the loan would inject funds to balance out repayments... Continue Reading →
(Reuters) - Finding themselves at the sharp end of a global inflation shock, emerging market central banks are expected to raise interest rates at a pace not seen in more than a decade -- moves bound to aggravate debt problems and hurt equity markets. Soaring price pressures have seen rate hike expectations shift up even... Continue Reading →
(Reuters) - Australian mining billionaire Andrew Forrest is planning what could be up to an $8.4 billion "green hydrogen" investment in Argentina, the South American country's government said on Monday after a meeting between the businessman and President Alberto Fernandez. Forrest, whose Fortescue Metals Group Ltd (FMG.AX) aims to become carbon-neutral by 2030, is a major backer... Continue Reading →
(PetroleoHoje) Schlumberger signed a contract with Petrobras to supply completion systems for 21 wells in pre-salt concessions. Installation of the systems is scheduled to start in the third quarter of 2022. The deal is the result of a public tender for the supply of direct hydraulic intelligent completion systems and selective lower completion systems. Petrobras... Continue Reading →
Oil and gas producer Wintershall Dea's most closely watched measure of earnings more than doubled in the third quarter, it said on Tuesday, benefiting from soaring oil and gas prices and spending cuts. The company, owned jointly by BASF and Russia's LetterOne, posted earnings before interest, tax, depreciation, amortization, and exploration expenses (EBITDAX) - a... Continue Reading →
(Reuters) - The giant Itaipu hydroelectric power plant, wedged between Paraguay and Brazil on the Parana River, is facing an energy crunch amid record low river and rainfall levels that experts say could last into next year. The Itaipu dam, which supplies around 10% of the energy consumed in Brazil and 86% of that used... Continue Reading →
(Oilprice) The global push to substantially reduce carbon and other fossil fuel emissions is expected to sharply impact demand for fossil fuels. It will eventually trigger a phenomenon known as peak oil demand, where crude oil consumption will cease growing, flat line, and then progressively contract causing prices to fall. A raft of analytical agencies and... Continue Reading →
(Reuters) - Wintershall Dea (WINT.UL) posted strong second quarter 2021 earnings as it benefited from firmer oil prices and reduced spending, its earnings report showed on Tuesday. The company, owned jointly by BASF (BASFn.DE) and Russia's LetterOne, posted earnings before interest, tax, depreciation, amortisation, and exploration expenses (EBITDAX), a standard oil industry measure, of 636 million euros... Continue Reading →
Argentina's government has launched a process to sanction a number of foreign firms it accuses of illegally drilling for oil in a disputed area near the British-run Falkland Islands, over which the South American country also claims sovereignty. The country's energy secretary Darío Martínez told reporters on Wednesday it would seek sanctions against UK-based Chrysaor... Continue Reading →
Brazil Energy Insight 