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
U.S. President Donald Trump hit Russia's two biggest oil companies with sanctions in a sharp policy shift on Moscow's war in Ukraine, prompting global oil prices to rise by 5% and India to consider cutting Russian imports
The national government awarded the contract to TGS for the expansion of the trunk pipeline from Vaca Muerta, in a deal that will involve a USD700 million investment to add 14 million m³/day of natural gas transport capacity
The governor of Neuquén authorized Pluspetrol to cede to GeoPark 100 % of its stake in the exploitation concession at Puesto Silva Oeste and in the natural gas transport concession from Puesto Silva Oeste to Neuba II
Brazil has authorized controversial offshore oil exploration near the Amazon, less than a month before it hosts the U.N. climate summit (COP30), where it aims to present itself as a leader in environmental preservation
Governments worldwide plan to produce 120% more fossil fuels by 2030 than the level consistent with limiting global warming to 1.5 degrees Celsius, as outlined in the Paris Agreement
