South America

U.S. fuel exports see slight uptick in 2025

Brazil's antitrust watchdog approves private equity firm's controlling stake purchase in Braskem

Shell committed to backstop Raizen with $668-MM investment, Brazil CEO says

Raizen has reported a string of losses and soaring net debt in recent quarters amid costly investments and poor weather negatively impacting crops, prompting the company to warn in February of "significant uncertainty" about its ability to keep operating.

Motiva buys cargo of Venezuelan heavy oil for March delivery; first purchase since 2019

Aramco acquired Motiva Trading in 2023 and became the sole supplier of Motiva Enterprises, which owns the 640,500-bpd refinery in Port Arthur, Texas, the largest in the United States.

Mubadala's Acelen to boost diesel capacity at Brazilian refinery Mataripe by 10%

Mataripe, Brazil's second-largest refinery, accounting for about 14% of national capacity, is set to increase diesel production to 13,700 m3d from 12,400 m3d.

U.S. seeks forfeiture of oil tanker and 1.8 MMbbl of Venezuelan oil

The oil supertanker was seized by the U.S. near Venezuela in December as part of a pressure strategy against President Nicolas Maduro, who was captured in a U.S. military operation on January 3.

HIF Global and German eFuel One GmbH sign HoA for e-methanol offtake

Venezuela's refineries boost processing to 35% of capacity

India's Bharat Petroleum, HPCL Mittal buy Venezuelan oil

The heavy oil, purchased through two separate deals, is planned to be co-loaded on a very large crude carrier to save on shipping cost, and will boost India's imports of Venezuelan crude to at least 6 MMbbl through April.

U.S. refiner Valero to import up to 6.5 MMbbl of Venezuelan crude in March

Valero was among the first U.S. refiners to resume imports of Venezuelan crude after the United States struck a flagship $2-B oil supply deal with the country's interim government and began to ease sanctions.