OPEC slightly adjusts its production forecasts for 2025-2026 while projecting stable global demand growth, leaving OPEC+ significant room to increase supply without destabilizing global oil markets.
Brazil adopts new rules allowing immediate commercial measures to counter the U.S. decision to impose an exceptional 50% customs tariff on all Brazilian exports, threatening stability in bilateral trade valued at billions of dollars.
Arctech Brazil has received FINAME certification from the National Bank for Economic and Social Development, making financing more accessible for its solar trackers and consolidating its role in the Latin American solar market.
Petróleos de Venezuela S.A. (PDVSA) recorded $17.52bn in export sales in 2024, benefiting from increased volumes due to U.S. licences granted to foreign partners, according to an internal document seen by Reuters.
Petro-Victory Energy announces the completion of drilling operations for the AND-5 well in the Andorinha field, Brazil, with positive reservoir results and next steps for production.
Brazil, Mexico, Argentina, Colombia, Chile, and Peru significantly increase renewable electricity production, reaching nearly 70% of the regional electricity mix, according to a recent Wood Mackenzie study on Latin America's energy sector.
BRICS adopt a joint financial framework aimed at supporting emerging economies while criticizing European carbon border tax mechanisms, deemed discriminatory and risky for their strategic trade relations.
McDermott secures contract worth up to $50 million with BRAVA Energia to install subsea equipment on the Papa-Terra and Atlanta oil fields off the Brazilian coast.
According to a Wood Mackenzie report, Argentina could achieve daily gas production of 180 million cubic metres per day by 2040, aiming to become a key regional supplier and a significant exporter of liquefied natural gas.
Meeting in Rio, BRICS nations urge global energy market stability, openly condemning Western sanctions and tariff mechanisms in a tense economic and geopolitical context.
Petrobras is exploring various strategies for its Polo Bahia oil hub, including potentially selling it, as current profitability is challenged by oil prices around $65 per barrel.
Dalinar Energy, a subsidiary of Gold Reserve, receives official recommendation from a US court to acquire PDV Holdings, the parent company of refiner Citgo Petroleum, with a $7.38bn bid, despite a higher competing offer from Vitol.
Emerging economies from the BRICS group now account for more than half of global solar electricity production in 2024, driven mainly by China, India, and Brazil, according to a new report by the organisation Ember.
Rapid growth in solar and wind capacities will lead to a significant rise in electricity curtailment in Brazil, as existing transmission infrastructure remains inadequate to handle this massive influx of energy, according to a recent study by consulting firm Wood Mackenzie.
Petro-Victory Energy Corp. starts drilling of the AND-5 well in the Potiguar Basin, Brazil, as the first phase of an operation financed through its strategic partnership with Azevedo & Travassos Energia.
Pedro Azagra leaves his role as CEO of Avangrid to become CEO of Iberdrola, while Jose Antonio Miranda and Kimberly Harriman succeed him as CEO and Deputy CEO respectively of the American subsidiary.
Chinese independent refineries remain cautious amid rising Iranian crude prices driven by escalating Iran-Israel tensions, potentially threatening access to the strategic Strait of Hormuz.
The global solar tracker market is expected to reach $29.31bn by 2030, driven by a compound annual growth rate of 26.2%, notably supported by large-scale photovoltaic projects and recent technological advances, a new study reports.
Global CO₂ emissions reach a record level in 2024, while Europe reports a local decrease but significantly outsources its pollution to emerging economies, revealing a pronounced gap between stated ambitions and economic realities.
The Brazilian energy group Neoenergia has completed the installation of two power transmission lines in the state of Santa Catarina, aiming to enhance the reliability of the national grid, benefiting several key regional cities.
Egypt strengthens its position in the global LNG market by awarding a tender for 20 cargoes, despite price fluctuations and increased competition.
This decision raises strategic issues for future supply.
US policy towards Venezuela oscillates between economic sanctions and migration concerns.
As the Biden administration weighs up its options, geopolitical and humanitarian issues complicate the situation, making the future uncertain for the region.
The International Energy Agency (IEA) cuts its forecast for global oil demand growth to 910,000 b/d for 2024, citing the economic slowdown in China and an accelerated transition to alternative energy sources.
Argentina is expanding its natural gas exports from Vaca Muerta to Brazil and Chile, bolstered by new transport infrastructure and increased production.
Despite Western sanctions, Iran plans to increase its petrochemical exports in 2024-2025, bypassing restrictions through strategic partnerships with Russia and other markets.
Brazil's prolonged drought has drastically reduced soil moisture in the main hydroelectric basins, threatening energy production and increasing electricity costs, with economic and inflationary repercussions.
Petro-Victory and Eneva sign an agreement to exploit non-associated gas from Brazil's São João field, marking a key milestone for the region's energy sector.
ExxonMobil abandons its plan to buy 40% of the Mopane offshore field in Namibia from Galp Energia, leaving other companies in the running for this strategic stake.
Gasoline prices in Brazil remain stable despite a widening gap with imports, posing challenges for the ethanol market and influencing the commercial strategies of fuel distributors.
Exports of liquefied natural gas (LNG) from the United States to Latin America and the Caribbean rose slightly by 7% in August, with flows varying from country to country.
Brent crude oil prices hit their lowest level since March 2023.
OPEC+ postpones production increases, but the market remains skeptical in the face of flagging demand.
Under pressure from falling prices, OPEC+ decided to extend the production cut by 2.2 million barrels per day until December 2024 to maintain market balance.
According to Rystad Energy, demand for hydrocarbons will remain high.
Premium energy basins such as Rub Al Khali and Gulf Deepwater are identified as strategic targets for maintaining production while reducing CO2 emissions.
Petrobras decided to reduce the reinjection of natural gas into new wells, underlining a pragmatic approach that contrasts with Lula da Silva's declared climate objectives at COP28, exposing tensions within Brazil's energy policies.
Despite high European inventories, the global LNG market remains exposed to supply risks and growing demand from Asia and Latin America, fuelling tensions ahead of winter.
Algeria joins the New BRICS Development Bank, seeking to diversify its sources of financing and strengthen its position on the international financial scene.
A blackout lasting over 12 hours in Venezuela exposes the weaknesses of the national power grid.
While the government accuses the opposition of sabotage, experts point to a lack of maintenance and chronic structural failures.
Paraguay, with its low-cost hydroelectricity, has become a center for cryptomining, attracting investment while fighting illegal drifts and corruption in its energy sector.
Scala Data Centers and Serena announce an agreement to supply 393 MW of wind power from 2025, aimed at meeting the growing needs of hyperscale data centers.
