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(Reuters) - Brazil's central bank raised its benchmark interest rate by 100 basis points for the second straight meeting on Wednesday and signaled another hike of that size in March, leaving the door open for subsequent moves amid mounting inflationary pressures. The bank's rate-setting committee, known as Copom, lifted the Selic policy rate to 13.25%... Continue Reading →
(Reuters) - Guyana's economy achieved its fifth consecutive year of double-digit growth in 2024, expanding 43.6% as oil output and exports showed solid increases, the Finance minister said on Friday, but the expansion is expected to slow this year. Latin America's newest oil producer last year became the region's fifth-largest crude exporter after Brazil, Mexico,... Continue Reading →
(Bloomberg) -- Brazilian assets finished the year lagging all major peers, with the real posting its biggest slump since the pandemic shock of 2020 amid mounting skepticism over President Luiz Inacio Lula da Silva’s commitment to fix a ballooning budget deficit. The real weakened 21% against the US dollar this year, the worst among 31... Continue Reading →
(Bloomberg) -- Colombia and Brazil are both run by leftist presidents with ambitious social agendas. Now the neighboring Latin American nations have something else in common: growing investor fears about government finance. In the first two years of their mandates, Gustavo Petro and Luiz Inacio Lula da Silva have taken similar tacks to boost their... Continue Reading →
(Reuters) - Investors who have been rewarded for their bets on Argentine President Javier Milei are doubling down on the country's stocks and bonds even as they hit records, betting that an austerity crusade will pay further dividends. Milei won the presidential election a year ago with a mandate to reshape South America's second-largest economy,... Continue Reading →
(oilnow.gy) Moody’s Ratings has upgraded Suriname’s long-term local and foreign-currency issuer ratings from Caa3 to Caa1. The outlook is now positive, reflecting the anticipated economic benefits from a significant offshore oil project. This change is driven by TotalEnergies’ recent decision to proceed with the GranMorgu oil project in Block 58, which holds 750 million barrels of recoverable reserves. The... Continue Reading →
(oilprice) Argentina’s shale province has been touted for years as the next Permian that would make the South American country a net exporter of energy after decades of import dependence. The Vaca Muerta shale basin is estimated to be the world’s second-largest shale gas deposit and the fourth-biggest resource of shale oil. However, Argentina’s... Continue Reading →
This is an op-ed piece by Liz Burdock, Founder and CEO of Oceantic Network, the US offshore renewable energy industry organisation. (offshoreWIND.biz) When I started Oceantic Network 11 years ago, I was motivated by the confident belief that offshore wind would be an economic and environmental game-changer for the U.S. Not only because of the industry’s... Continue Reading →
(Bloomberg) -- Brazil analysts lifted their key rate forecast for the end of next year as the biggest currency rout in emerging markets fans concerns of more persistent inflation going forward. The benchmark Selic will hit 9.75% in December of next year, up from the prior estimate of 9.5%, according to a weekly central bank... Continue Reading →
(Offshore-energy.biz) Joint venture (JV) partners, Canada’s CGX Energy and Frontera Energy, are seeking to undertake additional action to tap into and unleash the hydrocarbon resources on the Corentyne block offshore Guyana, given the potential for a standalone shallow oil resource development across the block, which their exploration results highlighted. As a result, the JV has... Continue Reading →
Brazil Energy Insight 