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A new bill passed by Japan’s House of Representatives on 3 June will enable offshore wind projects to be built in the country’s Exclusive Economic Zone (EEZ), beyond the 22-kilometre (12-nautical-mile) line of Japan’s territorial waters. The bill, which was approved by the House of Councillors on 11 April, amends the existing Act on Promotion... Continue Reading →
(Reuters) - Moody's Ratings on Friday changed its outlook on Brazil to stable from positive while affirming its Ba1 ratings, citing "slower-than-expected progress in addressing spending rigidity and building credibility around fiscal policy." In its report, Moody's, which had upgraded Brazil in October to the Ba1 sovereign rating - one step from investment grade -... Continue Reading →
(Reuters) - The average cost of Brazil's domestic debt issuance rose to the highest level in more than eight years, Treasury data showed on Wednesday, as elevated interest rates and persistent inflation continue to weigh on the country's debt profile. The cost reached 13.05% in April, up from 12.61% the previous month and the highest... Continue Reading →
Reuters) - Voters in Suriname, which is on the cusp of a predicted oil boom, will go to the polls on Sunday to elect a new parliament, which will later choose the South American country's next president. The contest, marked by fraud allegations, has seen little debate about what the next government, which will hold... Continue Reading →
By Haley Zaremba for Oilprice.com Nearly 90% of Brazil's electricity comes from renewables, making it a prime location for energy-intensive AI infrastructure. Amazon, Microsoft, and other tech giants are investing billions in Brazilian data centers powered by clean energy. Brazil aims to prove that a renewable-focused energy grid can sustain large-scale AI growth, challenging the... Continue Reading →
Suriname is experiencing renewed optimism for its oil industry with the approval of the GranMorgu project and significant investment from international energy companies. The country hopes to leverage its offshore oil discoveries to address economic challenges and reduce poverty, drawing inspiration from neighboring Guyana's successful oil boom. Several offshore blocks, including Block 58 and Block... Continue Reading →
(Reuters) - Argentina sealed a $20 billion, 48-month Extended Fund Facility deal with the International Monetary Fund on Friday and, in a major policy move ahead of the deal, dismantled key parts of its years-long currency controls and loosened its grip on the peso. The IMF will disburse $12 billion by next Tuesday, while another... Continue Reading →
(Reuters) The global economy is bracing for renewed turbulence following U.S. President Donald Trump’s announcement on Wednesday of sweeping new tariffs, triggering fears of a global trade war and sparking immediate market and political reactions. According to the White House, the new measures include a 10% minimum tariff on most imported goods, with certain products... Continue Reading →
(Reuters) - Brazil's government will propose a 10% tax on corporate profits and dividends sent abroad to help offset revenue lost from an expanded tax exemption for individuals with lower incomes, two sources with knowledge of the matter said on Monday. The measure would deal a blow to multinationals with subsidiaries in Brazil, which now... Continue Reading →
(oilprice.com) Latin America has long been a dominant force in the global energy market, built on vast oil and gas reserves. While the world increasingly eyes renewable sources of energy for the future, hydrocarbons remain the bedrock of economic stability for the region. As energy demand evolves, national oil companies (NOCs) must not forsake oil,... Continue Reading →
Brazil Energy Insight 