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(Reuters) Oil giant Shell will pull out of three offshore gas projects in Colombia's Caribbean, it owns together with Colombia's state-run oil company Ecopetrol, the groups said on Thursday. Shell had acquired a 50% operating stake in Col 5, Purple Angel and Fuerte Sur deepwater blocs in 2020. "They no longer fit our strategic ambitions.... Continue Reading →
(Reuters) - Italian energy group Eni said on Monday it signed a memorandum of understanding (MoU) with Argentine state-run oil producer YPF on its possible participation in an liquefied natural gas (LNG) project in Argentina. The Argentina LNG project aims to develop the onshore "Vaca Muerta" gas field and supply international markets by exporting up to... Continue Reading →
(Reuters) - Argentine state-run oil producer YPF could see its core earnings this year slide on lower crude prices, a presentation to investors showed on Friday. The firm currently estimates its earnings before interest, taxes, depreciation and amortization (EBITDA) in 2025 will range between $5.2 billion and $5.5 billion, assuming Brent crude prices at $72.5 a barrel.... Continue Reading →
(Reuters) - Lower oil prices could reduce Colombian state-run oil firm Ecopetrol's profits by up to 12 trillion pesos ($2.76 billion) this year, the company's president warned on Friday. Ecopetrol may also have to scrap production at some fields and focus on those with lower costs, president Ricardo Roa told journalists on the sidelines of an... Continue Reading →
(oilprice.com) Despite the recent slump in international oil prices, YPF CEO Horacio Marín remains confident in the resilience of Argentina’s energy sector—particularly the viability of Vaca Muerta. Speaking to Infobae en Vivo, Marín stressed that YPF can sustain profitable operations even if crude prices drop to $40 or $45 per barrel. “We made ourselves resilient at... Continue Reading →
(Reuters) - Mexico lowered its estimate for average crude oil production for this year by 129,000 barrels per day (bpd), citing a "prudent approach" that takes into account the trajectory of the first months of the year. This would bring the country below the ambitious 1.8 million bpd target set by President Claudia Sheinbaum. In... Continue Reading →
(Reuters) - Colombia's state-run energy company Ecopetrol plans to invest between $500 million and $700 million to build a plant to produce Sustainable Aviation Fuel (SAF) jet fuel, company's president Ricardo Roa said on Wednesday. The new plant, to be built at the Barrancabermeja refinery, will start its development phase between this and next year, Roa... Continue Reading →
Kaieteur News- The state-owned oil company of Suriname, Staatsolie on Monday announced that the company has raised US$515.8 million through a new bond that allowed citizens there to invest in the country’s first offshore oil project, GranMorgu. Staatsolie in thanking participants highlighted that the amount raised was US$ 211.7 million more than the US$ 304.1 million that was... Continue Reading →
(Reuters) - China Petroleum & Chemical Corp, known as Sinopec, reported a 16.8% decline in 2024 net profit, citing lower crude oil prices and the accelerated development of the new energy vehicle (NEV) industry. Sinopec's Hong Kong-listed shares were down 3.3% around 10:40 a.m. local time on Monday after falling as far as 4.5% earlier... Continue Reading →
(Reuters) - Argentine energy company CGC announced on Friday that it will partner with state oil company YPF in a project located in the South American country's lucrative Vaca Muerta basin as a minority partner. In a statement, CGC said it will provide an unspecified amount of capital for the tie-up in Argentina's massive shale... Continue Reading →
Brazil Energy Insight 