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Argentina

Terra Innovatum signs agreement with Argentina’s Conuar for SOLO nuclear reactor components

Terra Innovatum has signed a memorandum of understanding with Conuar for the supply of key components for the industrial production of its SOLO micro-modular reactor, marking a strategic move into the South American market.

Argentina targets Brazil for gas exports despite Bolivian fees

Argentina aims to boost gas sales to Brazil by 2030, but high transit fees imposed by Bolivia require significant public investment to secure alternative routes.

Horizonte wind farm begins operations and becomes Chile’s largest

With 816 MW of capacity and 140 turbines, Colbún’s Horizonte wind farm launched its commercial phase in early September after a gradual deployment over several months.
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Colbún buys back 53% of its 2027 notes for $266mn

Chilean power producer Colbún has completed its cash tender offer for 3.950% notes due 2027, repurchasing more than half of the outstanding amount for a total of $266mn.

Latin America’s energy storage to reach 23 GW by 2034

Led by Chile and dominated by utility-scale projects, Latin America's energy storage market is projected to grow at an average annual rate of 8 % through 2034.

Vallourec signs $1bn contract with Petrobras for Brazilian offshore operations

French steel tube manufacturer Vallourec has secured a strategic agreement with Petrobras, covering complete offshore well solutions from 2026 to 2029.
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IEA warns of 3.3 million barrel oil surplus in 2026

Increased output from Opec+ and non-member producers is expected to create a global oil surplus as early as 2025, putting pressure on crude prices, according to the International Energy Agency.

Petrobras takes 27.5% stake in Block 4 offshore São Tomé with Shell and Galp

The Brazilian company expands its African footprint with a new offshore exploration stake, partnering with Shell and Galp to develop São Tomé and Príncipe’s Block 4.

Iberdrola secures 84% of Neoenergia after €1.88bn acquisition

Iberdrola strengthens its presence in Brazil by acquiring PREVI’s stake in Neoenergia for BRL11.95bn, raising its ownership to 84%.
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Brazil invests to connect Roraima to its national power grid

Roraima, the last state not connected to Brazil’s national grid, has been linked through a publicly funded project launched over 14 years ago.

Anglo American and Teck merge to form copper giant in zero-premium deal

The announced merger between Anglo American and Teck forms Anglo Teck, a new copper-focused leader structured for growth, with a no-premium share structure and a $4.5bn special dividend.

Grenergy secures $270mn in financing for Phase 6 of Oasis de Atacama

Grenergy has secured $270mn in non-recourse financing to install 3.5 GWh of batteries in Phase 6 of the Oasis de Atacama project, marking a major step in expanding its energy storage capacity in Chile.
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Voltalia unveils SPRING, a strategic plan to restore profitability by 2026

Voltalia launches a transformation programme targeting a return to profit from 2026, built on a refocus of activities, a new operating structure and self-financed growth of 300 to 400 MW per year.

BW Energy raises $365mn for Maromba FPSO and secures drilling rig

BW Energy has finalised a $365mn financing for the conversion of the Maromba FPSO offshore Brazil and signed a short-term lease for a drilling rig with Minsheng Financial Leasing.

Viridien and TGS launch 5,300 km² 3D seismic survey offshore Brazil

Viridien and TGS have started a new 3D multi-client seismic survey in Brazil’s Barreirinhas Basin, an offshore zone still unexplored but viewed as strategic for oil exploration.
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Brazil bets on Cop 28 to shape the diplomatic agenda of Cop 30

Brazil’s Cop 30 presidency aims to leverage the Dubai commitments to mobilise public and private actors despite ongoing deadlock in international negotiations.

1,460 GtCO2: Nature study reshapes allocation of global subsurface capacity

A prudent limit of 1,460 GtCO2 for geologic storage reshapes the split between industrial abatement and net removals, with oil-scale injection needs and an onshore/offshore distribution that will define logistics, costs and liabilities.

Grenergy sells 10% of Chilean megaproject to CVC DIF for $475mn

Grenergy has finalised the sale of the fourth phase of its hybrid solar-storage project in Chile to CVC DIF, valued at up to $475mn, while retaining operation and maintenance for five years.
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Scatec signs 15-year power purchase agreement for a solar plant in Colombia

Norwegian group Scatec has signed a power sales agreement with BTG Pactual for its first solar project in Colombia, representing an estimated $110mn investment.

Brazil requests full membership in the International Energy Agency

Brasília has officially begun the process of joining the International Energy Agency, strengthening its strategic position on the global energy stage after years of close cooperation with the Paris-based organisation.
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Eni and YPF sign a memorandum of understanding for the evaluation of the liquefied natural gas project in Argentina

Eni and YPF have signed a memorandum of understanding to evaluate Eni's participation in the Argentina LNG project, aimed at developing resources from the Vaca Muerta gas field and exporting up to 30 million tons of LNG per year.

Petro-Victory boosts growth in Brazil through partnerships and acquisitions

Petro-Victory Energy secures key assets in Brazil through strategic alliances and acquisitions, consolidating its onshore market position and initiating a new phase of development.

SBM Offshore sells FPSO Cidade de Paraty in $400 million leaseback deal

SBM Offshore finalises a non-recourse leaseback agreement worth $400 million for FPSO Cidade de Paraty, transferring ownership to a consortium of Chinese lessors for an eight-year period.
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Petrobras builds wildlife centre to secure drilling permit in Brazil

Petrobras has completed a veterinary facility in the Amazon to meet a regulatory requirement for drilling in the strategic Foz do Amazonas region.

China and India urge BRICS to counter unilateral carbon mechanisms and tariffs

In Brasilia, China and India urged BRICS members to resist carbon taxes and trade measures imposed without international consensus, calling for stronger existing multilateral frameworks.

Copper producers bet on growth as investment strategies diverge

Mining companies are turning to copper production to drive growth from 2025, marking a strategic shift in capital allocation, according to Wood Mackenzie.
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Argentina targets record increase in oil production for 2025

Driven by massive investments and new infrastructure in Vaca Muerta, Argentina anticipates reaching oil production of 830,000 barrels per day in 2025, nearing the historic record set in 1998.

Despite sanctions, Rosatom expands global nuclear influence and secures exports

Despite severe Western sanctions targeting Russian energy, Rosatom continues its international nuclear projects and maintains a steady flow of enriched uranium to Europe and the United States, thus supporting the Russian economy through an effective diversification strategy.

ENERGO-PRO acquires Baixo Iguaçu in Brazil for €250 mn and strengthens global presence

Czech company ENERGO-PRO becomes the largest Latin American investor with the acquisition of Brazil’s Baixo Iguaçu hydropower plant, marking a major milestone in its geographic diversification strategy.
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Shell commits major investment in Gato do Mato oil field off Brazil

Shell Brasil approves the offshore Gato do Mato project development, targeting production of 120,000 barrels per day by 2029, further consolidating its position as Brazil’s leading foreign oil producer.

Abastible signs a long-term renewable energy purchase agreement with Zelestra in Chile

Abastible, a Chilean company specializing in liquefied gas and electricity, has signed a power purchase agreement with Zelestra. This hybrid project combines 220 MWdc of solar energy and 1 GWh of battery storage to support night-time energy supply.

Chile power plant project: ESO warns of risks to astronomical observation

The European Southern Observatory (ESO) warns of the potentially devastating consequences of a power plant project near its telescopes in the Atacama Desert, highlighting irreversible light pollution.
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Brazil accelerates investments in rare earths despite market uncertainty

With several mining projects recently funded, Brazil is strengthening its national strategy to exploit its rare earth reserves, amid sharply declining global prices and geopolitical tensions in this strategic market.

South America will add 160 GW of solar capacity by 2034

South America is set to add 160 GW of solar photovoltaic capacity between 2025 and 2034, driven by energy diversification, growing electricity demand, and favourable system economics. Emerging markets complement this growth despite challenges related to infrastructure and transmission costs.

Petro-Victory and Blue Oak acquire Capixaba Energia to strengthen their presence in Brazil

Petro-Victory Energy Corp. and Blue Oak Investments have reached an agreement to acquire Capixaba Energia LTDA, an integrated onshore production company in Brazil, aimed at expanding their presence in the country's oil and gas sector.
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Casa dos Ventos and ArcelorMittal Brasil launch Babilônia Centro wind farm production ahead of schedule

The Babilônia Centro wind farm, developed in partnership between Casa dos Ventos and ArcelorMittal Brasil, enters commercial production with 28 turbines out of 123. This launch marks a 13-week advancement from the original schedule.

EDP reports a 16% drop in annual profit, impacted by renewables

Portuguese group Energias de Portugal (EDP) announces a 16% decrease in its 2024 annual profit, affected by disappointing performance in its renewable energy subsidiary, particularly due to the abandonment of wind projects.

Mass power outage in Chile: private companies under scrutiny from authorities

An unprecedented power outage affected 95% of the Chilean population, paralysing the country for several hours. The government has blamed the network management companies and announced a thorough investigation.
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Petrobras reports a $2.8 billion loss in Q4 2024

Brazil's oil giant Petrobras announced a $2.8 billion loss for Q4 2024, primarily driven by a depreciation of the real and falling oil prices. Its net profit for the full year plummeted by 70%.

Vallourec sees 2024 profit decline but announces first dividend in ten years

French pipe manufacturer Vallourec reported a 9% decline in net profit for 2024 but plans to pay a dividend of €1.50 per share, its first in ten years.
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