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(Reuters) - Argentina persuaded a U.S. judge not to enforce a $16.1 billion judgment arising from the government's 2012 seizure of majority control in oil company YPF (YPFD.BA) while the cash-strapped country appeals the judgment. In a decision on Tuesday, U.S. District Judge Loretta Preska in Manhattan agreed to suspend enforcement until Dec. 5 without requiring Argentina... Continue Reading →
(Reuters) - Argentina has a $12 billion energy conundrum: what to do about state subsidies that keep prices at a minimum for two-thirds of consumers, a popular measure that is straining state coffers and a deal with the International Monetary Fund (IMF). Those subsidies, that keep energy bills at under 15% of normal, will play... Continue Reading →
Unfortunately it is a perpetual rerun of the same movie... (Reuters) - As Argentina prepares for a crunch presidential election, the old adage rings true: 'it's the economy, stupid'. Inflation is at 138%, net reserves of foreign currency are in the red, savers are ditching the peso, and a recession is looming. The country goes... Continue Reading →
(Reuters) - President Joe Biden will announce in Philadelphia on Friday the recipients of $7 billion in federal grants for the development of regional hydrogen hubs, advancing a key part of his administration's broader plan to decarbonize the U.S. economy. Seven proposed hubs spanning 16 states from Pennsylvania to California were selected in the program,... Continue Reading →
(Reuters) Studies by Brazilian state-run oil company Petrobras show that a single oil block of Amapa's equatorial margin could total more than 5.6 billion barrels of oil, the country's mines and energy minister said on Friday. Alexandre Silveira's remarks come as the oil giant bids to drill a well at the mouth of the Amazon... Continue Reading →
(OE) The U.S. Bureau of Ocean Energy Management (BOEM) said Monday it had completed its environmental review of the proposed 3GW Coastal Virginia Offshore Wind (CVOW) commercial project, which BOEM estimates could power about 1 million households, if approved. “The completion of our environmental review marks another step towards a clean energy future—one that... Continue Reading →
Guyana's economy will boom again this year as it grows by an expected 38% thanks to "unparalleled" oil sector expansion, according to a forecast from the International Monetary Fund (IMF) released on Monday. The latest 2023 estimate follows real gross domestic product (GDP) expansion of 62% in the South American country last year, which was... Continue Reading →
(OW) Massachusetts has opened its fourth offshore wind solicitation which seeks to procure 3.6 GW of new generation capacity and makes this the state’s largest solicitation of this kind to date. Developers can submit bids until 31 January 2024 and the projects will be selected by 12 June next year, with the execution of long-term... Continue Reading →
Suriname, struggling with political unrest and a debt crisis, pins hopes on its oil sector after TotalEnergies delayed the billion-dollar final investment decision for Block 58. Latest appraisal drilling confirms that Block 58 could contain as much as 6.5 billion barrels of exploitable oil resources, boosting prospects for an oil boom similar to neighboring Guyana.... Continue Reading →
(Reuters) - A "growth acceleration program" to be launched by Brazil's President Luiz Inacio Lula da Silva on Friday will include a total 1.7 trillion reais ($347.47 billion) in investments in all states, the government said. The program, known as PAC, revisits an initiative that Lula introduced in 2007 during his first tenure as president,... Continue Reading →
