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Brazil

Petrobras strengthens its grip on Brazil’s spot gasoline market after Refit and SSOil exit

The removal of two Brazilian refiners and Petrobras’ pricing offensive reshuffle spot volumes around Santos and Paranaguá, shifting competition ahead of a planned tax increase in early 2026.

EDF power solutions launches hydrogen pilot plant in Macaé to strengthen assets in Brazil

EDF power solutions has inaugurated a hydrogen pilot plant at the Norte Fluminense thermal power plant, with an investment of BRL4.5mn ($882,000), as part of Aneel's R&D programme.

Gavin Newsom seeks to reposition California as an autonomous player amid US withdrawal

Governor Gavin Newsom attended the COP30 summit in Belém to present California as a strategic partner, distancing himself from federal policy and leveraging the state's economic weight.
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Buenos Aires raises biofuel prices for the domestic market

Argentina increased regulated prices for ethanol and biodiesel used in mandatory blending, directly impacting the local industry and domestic fuel market.

The “Belém 4x” pledge targets global sustainable fuels surge by 2035

Nineteen countries, led by Brazil, Italy, Japan and India, aim to quadruple sustainable fuel production by 2035, marking a major industrial and regulatory challenge for global energy and transport supply chains.

L’Union africaine réclame une réforme des règles de financement climatique avant la COP30

À l’approche de la COP30, l’Union africaine demande une refonte des mécanismes de financement climatique pour garantir des ressources stables et équitables en faveur de l’adaptation des pays les plus vulnérables.
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COP30 opens in tension as negotiations fail on initial agenda

COP30 begins in Belém under uncertainty, as countries fail to agree on key discussion topics, highlighting deep divisions over climate finance and the global energy transition.

Three U.S. gas basins reshape prices, flows and contracts

Appalachia, Permian and Haynesville each reach the scale of a national producer, anchor the United States’ exportable supply and set regional differentials, LNG arbitrage and compliance constraints across the chain, amid capacity ramp-ups and reinforced sanctions.

Peru bets on carbon markets with its NDC 3.0 climate commitment

The Peruvian government announces a 179 million tonne emissions target by 2035, integrating carbon market tools and international transfers to reach its climate goal.
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Lula defends funding energy transition through oil revenues

Ahead of COP30 in Belém, Brazilian President Luiz Inacio Lula da Silva adopts a controversial stance by proposing to finance the energy transition with proceeds from offshore oil exploration near the Amazon.

Petrobras increases net profit in third quarter driven by production growth

Petrobras reported a net profit of $6 billion in the third quarter, supported by rising production and exports despite declining global oil prices.

Brazil extends coal usage despite dominance of renewable energy

The Brazilian government is granting new contracts to coal-fired power plants until 2040, illustrating the weight of regulatory decisions and industrial interests in a country predominantly powered by renewable energy.
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Mitsubishi Gas Chemical secures 1mn tonnes of low-carbon methanol from Transition Industries

Transition Industries signed a long-term purchase agreement with Mitsubishi Gas Chemical for the annual supply of 1mn tonnes of ultra-low carbon methanol starting in 2029, from its Pacifico Mexinol project in Mexico.

NU E Power acquires 500 MW of energy assets to strengthen global network

NU E Power Corp. acquires 500 MW of hybrid projects from ACT Mid Market Ltd. to support the global expansion of its artificial intelligence and Bitcoin mining infrastructure.

Global warming heads toward 2.5°C despite commitments

Current emission trajectories put the planet on course for a 2.3°C to 2.5°C rise, according to the latest UN calculations, just days before the COP30 in Belem.
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Brazil Reduces Emissions by 16.7% in 2024 Ahead of COP30

A week before COP30, Brazil announces an unprecedented drop in greenhouse gas emissions, driven mainly by reduced deforestation, with uneven sectorial dynamics, amid controversial offshore oil exploration.

Iberdrola concludes the acquisition of 30.29% of Neoenergia for 1.88 billion euros

Iberdrola has finalized the acquisition of 30.29% of Neoenergia for 1.88 billion euros, strengthening its strategic position in the Brazilian energy market.

Vallourec secures over 20,000-ton pipeline contract in Brazil

The French group will supply carbon steel pipelines to TechnipFMC for the offshore Orca project, strengthening its strategic position in the Brazilian market.
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The UN validates an Article 6.4 methodology for landfill methane

The Paris Agreement Crediting Mechanism formalizes a landfill-methane methodology, imposes an investment-based additionality test, and governs issuance of traceable units via a central registry, with host-country authorizations and corresponding adjustments required.

Amapá hosts strategic oil complex with Petrobras and Transpetro

An agreement between Transpetro, Petrobras and the government of Amapá provides for the construction of an industrial complex dedicated to oil and gas, consolidating the state's strategic position on the Equatorial Margin.
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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.

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.
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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.

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.

Trump, the puppet-master president: between tariff bluffing and energy market control

Donald Trump applies his negotiation methods to the energy sector, leveraging tariffs and targeted statements to influence markets and trading partners. Behind these decisions lies an ambiguous commercial strategy blending bluff and concrete actions.
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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.

Saúl Luciano Lliuya’s lawsuit against RWE opens in Germany

On March 17 and 19, Saúl Luciano Lliuya, a Peruvian farmer, will face energy group RWE in court before the regional court in Hamm, in a climate responsibility case related to the melting of Andean glaciers.
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The United States to impose tariffs on energy imports from Mexico and Canada

The US government has announced a 10% tariff on oil imports from Canada and a 25% tariff on those from Mexico, effective from March 4. This decision will directly affect the refining sector in the United States.

North America’s energy emissions set to fall by 20% by 2030, says Wood Mackenzie

According to a report by Wood Mackenzie, net energy-related emissions in the North American electricity sector are expected to drop by 20% by 2030, with significant impacts from renewable energy and transportation electrification.

Opec+ production increases lead to a drop in oil prices

Oil prices dropped this Tuesday after Opec+’s decision to maintain its plan of gradual production increases starting in April, despite calls from the US president to reduce energy prices.
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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.

Pemex records a net loss of $30.3bn in 2024

Mexican state-owned oil company Pemex has reported a net loss of $30.3bn in 2024, following a profit in 2023, due to a decline in sales and an increase in operating costs.

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.
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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.

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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Iberdrola posts record profit of €5.61 billion in 2024

Iberdrola achieved a record net profit of €5.61 billion in 2024, a 17% increase over 2022, driven by asset sales and increased investment in renewable energy.

Chile: Electricity restored to 90% of households after near-total blackout

After a massive power outage affecting more than 95% of the population, 90% of Chilean households regained electricity overnight from Tuesday to Wednesday. The country remains in shock following a failure that paralysed the power grid.
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