The drop in oil demand by refiners at local level and the exports limited to a minimum at global level due to the coronavirus pandemic, pushed storage capacity to the limit in the producing provinces
The British giant said it slumped into a u$s4.4-billion net loss in the first quarter as the coronavirus pandemic crushed demand for oil. "Our industry has been hit by supply and demand shocks on a scale never seen before," BP's CEO stated
According to the company, the $360 million project aims to expand production capacity and boost the development of liquids associated with oil and natural gas from Vaca Muerta
The U.S. Court of Appeals for the Second Circuit accepted Argentina’s emergency request to halt the discovery process related to enforcing a 2023 judgment issued by New York District Judge Loretta Preska
The U.S. government will hold an auction for oil and gas drilling rights in the National Petroleum Reserve in Alaska, the first since 2019, in what marks the latest test of industry interest in developing resources in the state
Spain has approved the release of up to 11.5 million barrels from its oil reserves over a 90-day period to counter supply shortages caused by the partial closure of the Strait of Hormuz
The war in Iran is currently cutting about 15 million barrels per day (bpd) of oil and refined products from the Gulf to global markets, which could push crude prices to $150 per barrel, research and consulting firm Wood Mackenzie said
Repsol, through the joint venture Repsol Sinopec Brasil and in a consortium with TotalEnergies and Shell, has started oil production at Lapa Southwest, located in the Santos Basin
State-controlled Argentine oil company YPF reported a net loss of $799 million in 2025, compared with a net profit of $2.393 billion in 2024. .477 billion. Total hydrocarbon production reached 527,000 barrels of oil equivalent per day last year
Vista Energy, whose operations are focused on Argentina’s Vaca Muerta unconventional hydrocarbon formation, reported a net profit of $719 million last year, up 50.5% from 2024
