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(Reuters) - U.S. refiners imported about 1.3 million barrels per day (bpd) of crude and fuel oil from Latin America in April, the highest in seven months according to U.S. Customs data, as buyers began replacing Russian supplies. The United States in March banned imports of Russian crude and refined products over its invasion of... Continue Reading →
(Reuters) - German oil and gas producer Wintershall Dea (WINT.UL) said on Thursday it will look beyond Russia for growth in a "fundamental" change for the company, but will retain its assets there to avoid them falling to the Russian state. "There can be and will be no 'business as usual' with Russia now," Chief... Continue Reading →
(Reuters) - Top oilfield services firm Schlumberger (SLB.N) reported a higher first-quarter profit on Friday and increased its dividend by 40%, as rising oil prices boosted demand for services and equipment. Oil prices climbed to their highest in more than a decade during the quarter as Russia's invasion of Ukraine upended global supply dynamics. Oilfield service firms,... Continue Reading →
(Reuters) - Argentina has extended a concession held by energy firms Total Austral, Wintershall Dea Argentina and Pan American Sur for 10 more years until 2041, and approved an investment plan for $700 million, according to a government decree published on Tuesday. The extension for exploring conventional oil and gas in the 1,900 square kilometers... Continue Reading →
(Reuters) - Argentina's new deal with Bolivia to up natural gas imports will bring savings of $769 million in foreign-exchange reserves and replace 14 vessels of increasingly expensive liquefied natural gas (LNG), Energy Secretary Dario Martinez said on Friday. Argentine President Alberto Fernandez and his Bolivian counterpart Luis Arce on Thursday reached a deal for... Continue Reading →
(Reuters) - Peru's government wants to ramp up oil production in some of its dormant Amazonian fields as global crude prices soar on supply fears linked to Russia's invasion of Ukraine. Among the areas prime for a reboot is Block 192, the Andean country's largest - and leakiest - field. Located deep in the Amazon... Continue Reading →
(WO/Bloomberg) — Argentina, home to some of the world’s vastest gas reserves, is bracing for the unthinkable: rationing one of its chief natural resources. Despite having shale-gas deposits to rival those in Appalachia, which made the U.S. a major exporter, Argentina's domestic gas production sector has suffered from years of underinvestment that has left it unable to meet... Continue Reading →
(Bloomberg) — U.S. refiners Valero Energy Corp and Marathon Petroleum Corp., along with Shell Plc’s trading unit Shell Western Supply and Trading, are rushing to secure Ecuadorian barrels after America banned imports of Russian crude. Ecuador’s state oil company EP Petroecuador held back-to-back meetings this week in Louisiana with several refiners and trading houses, according... Continue Reading →
(Reuters) - Argentine state oil company YPF (YPFD.BA) on Thursday posted a $247 million net profit in the fourth quarter 2021, a 54% drop compared to the year-ago period. The company said profit was hurt by high international prices that could not be fully passed onto local customers. However, revenue grew from some of its main petroleum... Continue Reading →
(Reuters) - Argentina has struck an agreement in principle with the International Monetary Fund over a new $44.5 billion standby deal, both sides said on Friday, a major breakthrough in tense talks to restructure loans the country cannot repay. The South American country has been locked in talks for over a year with the IMF... Continue Reading →
Brazil Energy Insight 