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March 24 (TN) Equinor has acquired the 230 MW Esquina do Vento onshore wind farm complex from Vestas, which is ready for construction. With this investment, Equinor expands its broad energy offering in Brazil, further strengthening its portfolio for long-term growth in one of the company's key markets. The complex, which will have 51 turbines,... Continue Reading →
March 7 (Reuters) - Dozens of U.S. and other investors ranging from hedge fund managers to energy investors plan to travel to Venezuela in the coming weeks with hopes of meeting the country's top politicians and business leaders and scouting out investment opportunities, according to event organizers and participants. Three investor trips are being organized... Continue Reading →
Feb. 27 (Reuters) Venezuela's oil ministry has suspended 19 oil production-sharing contracts with private companies signed under the administration of President Nicolas Maduro, four sources with knowledge of the move told Reuters on Thursday. The suspension has had no impact on the country's oil and gas output so far, the sources said. State oil giant... Continue Reading →
Feb. 11 (Reuters) The U.S. Treasury Department on Tuesday issued a general license to facilitate the exploration and production of oil and gas in Venezuela, a long-awaited step that could help increase output in the country. Washington has relaxed sanctions on Venezuela's energy industry since U.S. forces captured President Nicolas Maduro in early January. It... Continue Reading →
Feb 6 (Reuters) - Some Brazilian power companies are pulling back from energy trading amid rising credit risks, greater price volatility, shrinking sales from generators and reduced liquidity in the market, company executives and sources said. CPFL and CTG Brasil, two major generators controlled by Chinese groups, are among the firms that have quit "directional trading,"... Continue Reading →
Feb 2 (Reuters) - Venezuelan oil exports rose to some 800,000 barrels per day (bpd) in January, from 498,000 bpd in December, after the U.S. capture of Nicolas Maduro and the ending of an oil blockade which has let traders carry most exports, shipping data showed. Washington imposed an oil embargo on the U.S.-sanctioned country... Continue Reading →
Jan 16 (Reuters) - Oil executives and lawyers for international oil companies are lobbying the U.S. and Venezuelan governments for changes in the OPEC member's hydrocarbon law that would give them the right to freely export the oil they produce in Venezuela, sources involved in the talks said. As the administration of U.S. President Donald... Continue Reading →
Jan 15 (Reuters) - Several European partners of Venezuela's state-run oil company PDVSA, including Spain's Repsol, Italy's ENI and France's Maurel & Prom, have applied for U.S. licenses or authorizations to export oil from the OPEC country, six industry sources told Reuters. The requested terms are similar to those granted by Washington in past years,... Continue Reading →
Jan. 9 (Reuters) Oil major Chevron Corp, global trading houses Vitol and Trafigura, and other firms are competing for U.S. government deals to export crude oil from Venezuela, according to sources familiar with the matter. The competition reflects a desire by many in the oil industry to access the South American country's crude stocks and... Continue Reading →
Jan 6 (Reuters) - Caracas and Washington have reached a deal to export up to $2 billion worth of Venezuelan crude to the United States, U.S. President Donald Trump said on Tuesday, a flagship negotiation that would divert supplies from China while helping Venezuela avoid deeper oil production cuts. The agreement is a strong sign that the Venezuelan government... Continue Reading →
Brazil Energy Insight 