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(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 →
(Zack's) Petrobras PBR, a Brazilian oil and gas company, in partnership with Colombia-based integrated oil and gas company Ecopetrol S.A. EC, has commenced the drilling of the Uchuva-2 well in the Tayrona block, located offshore Colombia’s Caribbean coast. This move is part of a broader strategy to boost Colombia's natural gas reserves and enhance the country's energy security.... Continue Reading →
(Reuters) - New tax credit rules unveiled by Brazil's government are expected to lead to a rise in gasoline and diesel prices in the country, an energy lobby said on Monday, estimating their impact on fuel distributors to reach 10 billion reais ($1.86 billion). President Luiz Inacio Lula da Silva last week published an executive... Continue Reading →
(Reuters) - Brazil's Finance Minister Fernando Haddad said there is no reason to worry about state oil major Petrobras after a recent leadership change that caused the company's shares to plummet. In an interview with French newspaper Le Monde published on Wednesday, Haddad said the appointment last week of Magda Chambriard as the company's CEO... Continue Reading →
(Reuters) - Brazil's government expects Petrobras will pay out all of its extraordinary dividends, according to a revenue projection for this year, even though the state oil company has yet to make a decision on that. "We consider the distribution of 100% of Petrobras' extraordinary dividends as the probable scenario," Treasury Secretary Rogerio Ceron said on... Continue Reading →
