South America

Argentina allows up to 15% ethanol blend into gasoline after oil shock

Gasoline prices in the South American country rose more than 18% in March, according to analyst estimates, driven by the U.S.-Israel war on Iran and have climbed more than 60% year‑on‑year.

Petrobras signs on with Baker Hughes for sweeping gas turbines service agreement

Baker Hughes has announced a substantial 60-month service award from Petrobras to support critical turbomachinery equipment for Brazil’s offshore operations as well as a major refinery.

Evonik expands distribution partnership with IMCD for VISIOMER® Specialty Methacrylates in the U.S.

TGS to invest $3 B in new NGL infrastructure project in Vaca Muerta shale formation

Brazil's Petrobras to auction 20 MM liters of diesel amid shortage reports

A spike in diesel prices is emerging as the first and most immediate threat to Brazil's farm sector from the U.S.-Israeli attacks on Iran, raising costs for producers harvesting a record soybean crop and planting corn they cannot afford to delay.

IEA announces record release of strategic stocks in response to Iran war oil price surge

The IEA said the release had been backed unanimously by 32 member countries, the sixth such move it has made since its creation in the 1970s.

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.