Energy & Oil

• Monday, May 12th 2025 - 20:37 UTC

  Lula announces sizeable Chinese investments in infrastructure

  

  Brazilian President Luiz Inácio Lula da Silva announced Monday that Chinese investors would be allocating some R$ 27 billion (US$ 4.69 billion at the current exchange rate) to infrastructure and other development in the South American country. He made those remarks during his participation in the Brazil-China Business Forum in Beijing. The investments will also cover the areas of education and technology, it was explained.

• Monday, May 12th 2025 - 10:04 UTC

  Petrobras strikes high-quality oil in Santos Basin Pre-Salt Aram block

  

  Petrobras has announced a new oil discovery in the pre-salt Santos Basin, identifying “high-quality oil without contaminants” at the 3-BRSA-1396D-SPS exploratory well in the Aram block, located 248 kilometers off the coast of Santos, at a water depth of 1,952 meters

• Friday, May 9th 2025 - 14:51 UTC

  Venezuela seeks support from Russia and China amid economic crisis

  

  Venezuela is turning to its geopolitical allies, Russia and China, to counter a deepening economic crisis, as the South American nation faces dwindling oil revenues, runaway inflation, and a severe currency devaluation.

• Thursday, May 8th 2025 - 08:34 UTC

  Former Paraguayan President welcomes Milei's Yacyretá tariff adjustment

  

  Former Paraguayan President and Yacyretá Binational Entity (EBY) Director Nicanor Duarte Frutos said Argentine President Javier Milei's decree adjusting the energy tariff from US$ 17 to US$ 28 per megawatt-hour (MWh) was the right thing to do and insisted that the measure did not violate any treaty. It rather establishes an effective charge for energy consumption to be paid by his country's National Electricity Administration (ANDE) and the Wholesale Electricity Market Administration Company (CAMMESA).

• Wednesday, May 7th 2025 - 10:55 UTC

  Milei adjusts Yacyretá tariff ahead of new operating agreement

  

  Argentine President Javier Milei signed Decree No. 303/2025, authorizing a new Operating Agreement for the Yacyretá Hydroelectric Power Plant, a binational entity co-owned by Argentina and Paraguay. The agreement sets a tariff increase from US$17 to US$28 per megawatt-hour (MWh) to optimize supply, ensure financial stability, and support technological modernization

• Monday, May 5th 2025 - 10:51 UTC

  Massive gold reserve found in Argentine province of Salta

  

  A massive gold reserve exceeding 11 million ounces was discovered in the Argentine province of Salta, at the Lindero project, 260 km from the territory's capital. Initially targeted for copper, the site revealed a deposit with 84 million tons of material at 0.6 grams per ton, making it one of South America’s most significant finds. The project, leveraging existing infrastructure, is driving economic growth through job creation, construction, and logistics.

• Monday, April 28th 2025 - 14:49 UTC

  Mass power outage hits large parts of Europe

  

  A massive power outage struck the Iberian Peninsula (Spain and Portugal) and has also affected Spain, Portugal, and some regions in France, Italy, and the UK, disrupting critical infrastructure including public transport, airports, telecommunications, and traffic systems.

• Monday, April 28th 2025 - 10:48 UTC

  Paraguayan experts visit Brazilian floating solar power plant to apply that technology to Itaipú

  

  Paraguayan technicians from Itaipu's Renewable Energy Consultancy visited a 7-megawatt floating solar power plant at the Billings dam reservoir in São Paulo, Brazil, the largest of its kind in Latin America, spanning 5 hectares to learn about flotation and anchoring systems, as part of the preparations for a similar project, albeit smaller, undertaking at Itaipú.

• Wednesday, April 23rd 2025 - 10:35 UTC

  Paraguay hopes to build 22 small hydroelectric plants through private investment

  

  Paraguay plans to build 22 small hydroelectric power plants on internal rivers, with an estimated private investment of US$ 1.4 billion, explained Vice Minister of Mines and Energy Mauricio Bejarano in a radio interview after the enactment of the Small Hydroelectric Power Plants Law which grants the government free rein to bid for the construction of new dams.

• Tuesday, April 22nd 2025 - 10:20 UTC

  At least 14 injured in Petrobras offshore platform incident

  

  At least 14 people were injured when a fire broke out on Petrobras' Platform PCH-1 (Cherne 1) in the Campos Basin, off the coast of Macaé, Rio de Janeiro. One worker was initially reported injured after falling into the sea, but the company later admitted that 13 others had also been affected. The rescued worker is stable, and the others are receiving medical care.