South America
EIA: Distillate and jet fuel contribute to record U.S. petroleum product exports in 2024
In 2024, U.S. exports of total petroleum products increased to a record 6.6 MMbpd annual average, according to the U.S. Energy Information Administration (EIA). Annual U.S. petroleum product exports increased by 495,000 bpd as U.S. exports of distillate fuel oil—typically sold as diesel—and jet fuel increased compared with 2023, while exports of total motor gasoline decreased.
Declining prices enable Brazil to raise biodiesel blend to 15%
Declining vegetable oil prices are clearing the way for Brazil to increase its mandatory biodiesel blend into diesel to 15%, up from 14%.
Colombia's Ecopetrol to invest up to $700 MM in SAF production plant
Colombia's state-run energy company Ecopetrol plans to invest up to $700 MM to build a plant at the Barrancabermeja refinery to produce sustainable aviation fuel
Solvay partners with Cavalinho to reduce emissions at Brazilian chemical plant
Solvay will be one the first companies in Brazil to adopt biofuel-powered trucks for transportation, supporting its goal of cutting scope 3 emissions by 20% by 2030.
Brazil's Petrobras lowers diesel prices for first time in more than a year
Brazilian state-run oil company Petrobras said it will lower refinery gate diesel prices for the first time in more than a year, as local prices currently stand above import parity.
Russia increases fuel, diesel supply to Bolivia amid rising energy crisis
Russia is increasing exports of motor fuels to Bolivia, according to data from LSEG vessel tracking and industry sources, as an energy crisis worsens in the Latin American country and Moscow needs to expand sales hit by Western sanctions.
Wärtsilä to test ethanol-fueled engine for large-scale electricity generation
Technology group Wärtsilä has partnered with Brazilian energy company Energetica Suape II S.A, majority owned by Grupo Econômico 4M, to conduct a world-first clean energy trial, which will see ethanol—a biofuel mainly produced from sugarcane—used to generate clean power.
Brazil's diesel imports rise with Petrobras above parity
Brazil's diesel imports in March exceeded the same month in 2024, as Brazil's state-run oil firm Petrobras sold the raw material for several days at prices above import parity.
Trump to hit Venezuelan oil buyers with tariff, extends Chevron's wind down
U.S. President Donald Trump on Monday issued an executive order declaring that any country buying oil or gas from Venezuela will pay a 25% tariff on trades with the U.S., while his administration extended a deadline for U.S. producer Chevron to wind down operations in the South American country.
Venezuela's PDVSA to keep producing, exporting and processing oil previously handled by Chevron
Venezuela's state-run PDVSA has put together three operational scenarios as part of a plan to continue producing and exporting oil at its largest JV with Chevron once a license for the U.S. major to operate in the country expires next month.
- Borouge set to boost production capacity to over 6.6 MMtpy 4/28
- Sri Lanka to begin talks with India, UAE for new energy hub 4/28
- S-Oil posts refining, petrochemical losses; expects US tariffs to affect margins in Q2 4/28
- Kuwait Petroleum's stake investment in China Wanhua Chemical's unit valued at $638 MM 4/28
- Chemical maker LyondellBasell misses quarterly profit estimates on weak volumes 4/28
- Trump administration (U.S.) to allow temporary sales of summertime higher-ethanol fuel 4/28
