South America

Not everybody is a loser from the Iran war—just ask Brunei

The focus from the Iran conflict has largely been on the increasing cost the world is having to pay through higher crude oil and natural gas prices resulting from the effective closure of the Strait of Hormuz.

Mubadala's Acelen secures $1.5 B to launch Brazil SAF biorefinery project

The refinery is expected to start operations in 2029 and produce up to 1 B liters per year of sustainable aviation fuel (SAF) and renewable diesel.

Argentine government hikes biofuel prices for domestic market

Venezuela's PDVSA controlling fire at Cardon refinery's cracker

Power outages and fires are frequent at PDVSA's deteriorated refineries, which typically work at a fraction of capacity.

ATOME announces FID for $665-MM green hydrogen project in Paraguay

Construction of the plant is expected shortly following FID with full production projected to commence by or before October 2029.

Petrobras selects Honeywell's ethanol-to-jet technology for large-scale SAF plant

Petrobras in talks with Mubadala to buy back Mataripe refinery

Venezuela's refineries down to 31% of crude processing capacity

The South American country has increased oil output and exports since it agreed to a flagship supply pact with the U.S. government in January, but limited power service, outages and need for major repairs and maintenance are creating obstacles to recovering refining operations.

India's Reliance buys Venezuelan oil directly from PDVSA

Since Caracas signed a flagship oil supply deal with Washington after the U.S. capture of President Nicolas Maduro in January, only a small group of companies have been able to buy cargoes directly from PDVSA.

Petrobras delivers LPG sold at steep premiums despite Lula move to annul auction

Brazilian state-run oil firm Petrobras has delivered liquefied petroleum gas auctioned off at high prices, even after President Luiz Inacio Lula da Silva said the government would annul it to protect consumers from fuel spikes.