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Vaca Muerta produced 52% of Argentine oil in March
A report by consulting firm Economía & Energía found that oil production in Argentina reached 690,000 barrels per day in May, with the Vaca Muerta shale formation accounting for 52% of total output.
Nicaragua's El Jaguar solar plant boosts national energy grid
The 16 MW El Jaguar photovoltaic facility, situated in Malpaisillo, León department, has commenced injecting power into Nicaragua's National Interconnected System. The plant features nearly 40 bifacial solar panels.
Venezuela bolsters military presence near Guyana border amid rising tensions
Venezuelan President Nicolas Maduro's administration is intensifying military infrastructure and hardware deployment near the border with Guyana, heightening concerns of annexation threats towards the oil-rich stretch of Guyanese land.
Costa Rica's president revives Diquis hydroelectric project amid environmental concerns
Costa Rica's President Rodrigo Chaves has unveiled plans to revive the controversial Diquis hydroelectric project, which involves building a reservoir on the Grande de Térraba River - a plan opposed by indigenous groups over environmental concerns.
Panama Canal Authority eyes LNG transit boost amid drought recovery
Ricaurte Vásquez Morales, Administrator of the Panama Canal Authority, revealed plans to engage American liquefied natural gas producers to address transit demand as the crucial waterway emerges from an extended drought.
Experts weigh major significance of revived plan to build Kambar-Ata-1 dam and hydropower plant
MODEC reports 657% surge in quarterly profit driven by Guyana FPSO contract
MODEC released its earnings for the first quarter of 2024, announcing a $71mn profit largely driven by its order for the Errea Wittu floating production storage and offloading vessel for the Uaru development offshore Guyana.
Iranian oil still being offloaded in China despite US sanctions
According to a report in London-based Iran International on May 11, the group United Against Nuclear Iran (UANI) revealed that two vessels were seen offloading Iranian oil at the port of Dongjiakou in China.
Nigerian Senate approves taking $500mn loan to improve electric metering
The Nigerian Senate has given the green light to President Bola Tinubu’s request for a $500mn loan, aimed at bolstering the country’s electricity sector.
Uganda in talks with China’s Sinohydro to supply power to South Sudan
Uganda is in talks with Chinese firm Sinohydro Corporation Limited for the development of a $180mn power transmission line to allow Kampala to export electricity to South Sudan.
Benin approves Niger’s first export of crude oil
Petrobras introduces new gas contracts amid newly liberalised Brazilian market
Brazil’s national oil company (NOC) Petrobras has announced plans to introduce new types of natural gas contracts in Brazil's open market, featuring more flexible and competitive terms.
CMM secures $94mn to build ethanol-powered PSV fleet in Brazil
Compagnie Maritime Monegasque (CMM) has obtained $94mn in financing from Summit Ridge Capital Partners, earmarked for the construction of a pioneering ethanol-powered fleet of Platform Supply Vessels (PSVs) in Brazil.
Brazil narrows reduced biofuel mix mandate in flood-hit south
Brazil's crude oil, gas, and biofuels regulator the ANP has scaled back the reduced biofuel blending mandate in Rio Grande do Sul state, limiting it to the cities of Canoas, Esteio, Rio Grande, and Santa Maria as the area reels from severe flooding.
Iran’s output up for 3rd straight month in April, OPEC report shows
Iran’s oil output soared for the third month in a row in April, an OPEC monthly report showed, as the Middle Eastern producer has vowed to pump more crude in defiance of US sanctions.
Oil poised to become Brazil's leading export in 2024
Crude oil is set to become Brazil’s primary export in 2024, reflecting its growing significance in the country's export portfolio.
Petrobras curbs investor payouts amid political pressure
Brazil’s national oil company Petrobras’ board has approved a BRL1.04 per share, or BRL13.45bn ($2.6bn), in dividends from the first quarter, it said in a regulatory filing,
Shell bets big on hydrogen to decarbonise offshore operations
The subsidiary of UK energy major Shell in Brazil is investing millions in a project to test hydrogen in diesel engines on marine vessels, including drilling rigs and tankers, aiming to reduce greenhouse gas (GHG) emissions.
Vietnamese manufacturers turn to rooftop solar for greener production
Vietnamese manufacturers are increasingly embracing rooftop solar power as a way to "greenify" their production processes, enhance competitiveness, and contribute to national net-zero goals, according to industry experts
Wave of consolidation may be imminent amongst Brazil’s smaller upstream independents
Four of Brazil’s top 10 independent exploration and production players are in talks in which they are seeking a merger. And indeed it is Brazil’s oil juniors that are hunting for M&As most avidly.
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