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(Reuters) - China National Petroleum Corp (CNPC), Asia's largest oil and gas producer, has over the past three decades built a global portfolio with assets in 33 countries. The company's overseas production exceeded 100 million metric tons, or 2 million barrels per day of oil equivalent, for the first time in 2019 and has since... Continue Reading →
(Reuters) - Peru officials are looking at ways to help cash-strapped state oil firm Petroperu avoid bankruptcy or liquidation, Economy Minister Jose Arista told Congress on Friday, including cost cutting, asset sales and possible private management. The company described its financial condition last month as "extremely grave." "Petroperu is currently facing a difficult financial situation that... Continue Reading →
(Reuters) - Norwegian state-owned utility Statkraft, which has quietly become Europe's largest renewable energy producer, faces the challenge under its new CEO of balancing ambitions for global growth with financial restraint and calls to go public. On Monday, Statkraft's board announced Birgitte Ringstad Vartdal, its head of Nordic operations, would take on the top job... Continue Reading →
(Reuters) - Spanish energy giant Repsol (REP.MC) faces a class action lawsuit with 30,000 alleged victims in Peru stemming from a major oil spill in 2022, the law firm representing the class said on Monday, as a small protest marked two years since the incident. The class action lawsuit is asking for a $1 billion judgment, local... Continue Reading →
(OE) Eight Amazon rainforest nations are expected to face divisions over proposals to block new oil drilling and end deforestation when they meet on Tuesday for their first summit in 14 years. The meeting of the Amazon Cooperation Treaty Organization (ACTO) gathers heads of state from Bolivia, Brazil, Colombia, Ecuador, Guyana, Peru, Suriname and Venezuela... Continue Reading →
(Reuters) - Peru's state-owned oil company Petroperu signed a license agreement on Tuesday to return to producing crude oil, starting at one of the country's largest oil blocks, with plans to invest $638 million in the site to develop new wells. Petroperu will take over Block 192, located in the Amazon near the border with... Continue Reading →
(Reuters) - A Peruvian judge on Tuesday admitted a $4.5 billion lawsuit against Spanish oil firm Repsol SA (REP.MC), eight months after an underwater oil pipeline owned by the company caused a spill of over 10,000 barrels into the Pacific Ocean. The civil lawsuit seeking $3 billion for environmental damage and $1.5 billion for damages to... Continue Reading →
(Reuters) - State-owned Petroperu asked the government to declare a state of emergency for a major crude oil pipeline late on Friday, after it suffered a series of cuts in an Amazonian region of the country that it described as "an unprecedented attack." Petroperu confirmed an oil leak in a statement, adding that the spill... Continue Reading →
(Reuters) - Exports of Ecuador's flagship Oriente crude remain suspended under a force majeure declaration as the spread of anti-government protests hurts oil output, state-run Petroecuador said on Wednesday. At least eight people have died and road blockades have led to food and medicine shortages. The crisis has halved oil output, the country's main source... Continue Reading →
(Reuters) - Peruvian state oil company Petroperu said on Tuesday it would present the long-delayed audit of its 2021 financial statements by September, following approval from its bondholders. Petroperu was supposed to present the paperwork by May of this year but failed to do so when accounting firm PwC declined to carry out the audit... Continue Reading →
Brazil Energy Insight 