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Oil Bust Takes Its Toll On Latin-American Oil Output

EIA’s weekly estimates show a decline in U.S. shale output, going hand in hand with other declines around the around specifically in Latin America.  Being slated as the world’s most vulnerable oil region, as the major oil producers are having declines in their productions. by Nick Cunningham, Oilprice.com, April 2, 2016 U.S. shale continues to…

Outages in Latin America to help relieve global oil supply glut

Unplanned outages happening around the world at ports and pipelines is helping curb a supply glut that has inundated surpluses of oil and gas. Although short-lived it may still help certain oil producing countries but once it runs it course it will negatively affect several major Latin American countries. by Marianna Parraga, Reuters, April 1,…

Brazil plans to extend oil rights to foster investment

In an effort to trigger Brazil’s oil sector, the country’s government is taking new measurements that could get up to $130 billion in investments. Some of the measurements include extension of exploration rights, new auctions and a special customs regime. by Silvio Cascione, Reuters, Jan. 29, 2016 Brazil plans to extend oil exploration rights in…

Brazil’s Eletrobras Approves Sale of Energy Distributor Celg-D

Brazil’s Eletrobras decided to sell 51% stake in Celg-D for $367 million USD in order to help te government with its cash struggles. Companies like Italy’s Enel SpA and Chinese State Grid Corp. had shown interest in the distributor that currently serves 7 million people in Goias state. by Vanessa Dezem, Bloomberg, Dec. 28, 2015…

Latin America Dominates Ranking of Clean-Power Investments

Latin America accounts for almost half of the 30 countries evaluated for clean’energy investment. Just between Brazil, Chile, Mexico, and Uruguay, it managed to get 16 percent of the total invested to the top 10 countries, almost $20 billion. by Vanessa Dezem, Bloomberg, Nov. 23, 2015 Latin America dominated the list of top emerging nations…

Southern Cone’s Gas Sector Will Need Significant Investment & Multi-Lateral Approach

South American countries consider gas to be the fuel of the future, however this industry is still in its growing stage along that region. According to a study by Wood Mackenzie, the Southern Cone would need an annual investment of up to $30 billion along with multi -lateral commercial arrangements within countries in order to balance…

Workers Union strike is hurting Petrobras production

Few days have passed since the Oil Workers Federation (FUP) in Brazil went on strike and Petrobras’ production has been greatly affected. The strike has cost Petrobras a decrease of 13% daily oil production and 14% on daily natural gas. by Will Connors, The Wall Street Journal, Nov. 03, 2015  Turmoil at Brazil’s state-run oil…

China, Latin America see great potential in clean energy cooperation: experts

Experts agree that China has the necessary infrastructure to fill that deficit gap in Latin America’s clean energy sector. Through different Chinese corporations, the country has already invested billions of dollars in different projects in Argentina, Peru, Ecuador, and Chile and is looking to expand much further. by China Daily, Nov. 02, 2015 China and…

Brazilian wind players look to wider Latin American market

Despite Brazil´s recent energy plan to grow 11.5% share in the energy market, companies started to look for opportunities in other Latin American markets specifically in Uruguay, Chile and Mexico, which are seeking wind expansion via auctions. Eletrobras, energy developer from Brazil, plans to develop wind farms in Uruguay. Renova Energia, another Brazilian company, is…

Brazil auction fails to attract bids from oil majors

Last Wednesday, Brazil was able to award only 14 percent out of the 266 crude and natural gas concessions offered. The 37 blocks were assigned mostly to small Brazilian firms. The only large company to bid during the auction was Queiroz Galvao, a Brazilian construction group which won two deep-water blocks off the northeastern state of Alagoas. The…

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