South America

Brazil's BNDES approves $71 MM for carbon storage project

Brazil is a major ethanol producer, and corn ethanol output is growing rapidly.

Cuba on edge as U.S. seizure of oil tanker puts supply at risk

A U.S. move this week to seize an oil tanker out of Venezuela is poised to make a bad situation worse for a crisis-stricken Cuba already struggling to source enough oil to power its ailing economy and electrical grid.

Corn-ethanol not seen as threat to Brazil's cane-ethanol producers

Corn-based ethanol production in Brazil has more than tripled since the turn of the decade while cane-based ethanol output has flattened. Brazil's cane mills can produce either sugar or ethanol from cane.

Amber Energy plans to hold on to Citgo refineries after takeover

A Delaware court last week approved Amber's $5.9-B bid for Citgo's parent PDV Holding and ordered the sale of PDV's shares, wrapping up an auction aimed at compensating creditors for debt defaults and expropriations in Venezuela.

Neoenergia and Honda join forces to accelerate green mobility in Brazil

The partnership will take place at Neoenergia's first green hydrogen filling station in the country, located in Brasilia (DF).

Update: Fire extinguished at Venezuelan oil upgrader, operations halted

Incidents and outages are frequent within PDVSA's aging infrastructure, including oilfields, refineries and upgraders that are key to turning the country's extra heavy oil output into exportable crude grades.

COP30: Brazil seeks biofuel boom, but critics query climate impact

U.N. COP30 climate summit host Brazil is pressing nations to pledge to quadruple the global use of sustainable fuels by 2035, including biofuels, hydrogen and biogases, but environmentalists warn that making fuel from crops harms food security and nature.

Global oil refining profits surge and may stay strong

The strength in margins contrasts with crude oil markets coming under pressure from an expected oversupply, and has defied expectations earlier this year that the rally could prove to be a short-term blip due to the impact of tariffs.

Abra Group and Sumitomo sign MoU to advance affordable SAF in Brazil

Quick wins on cutting methane dogged by a slow transition

The pledge to cut methane emissions by 30% below 2020 levels by 2030 has been signed by 159 countries plus the EU. Many of them have developed, or are working on, methane action plans, and billions of dollars have been committed to the effort.