Palm oil drops on Dalian and Chicago Exchanges due to weakness in soyoil
Malaysian palm futures continued to lose on Thursday, wiping out the gains of the previous session, as the contract tracked the losses in soyoil futures at Dalian and Chicago. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange had fallen 48 Malaysian Ringgits, or 1.07% to 4,427 Malaysian Ringgit ($1,055.56) per metric ton.
IEA: Global oil and gas production is declining rapidly, IEA reports
International Energy Agency (IEA) said Tuesday that the decline in oil and gas production from mature fields around the world is increasing due to a greater reliance on deep-ocean and shale resources. This means companies will need to invest even more to maintain output. Donald Trump's administration has criticized the IEA for its recent shift in focus to clean energy policy.
The IEA reports that the decline rates of global oil and gas fields are increasing.
International Energy Agency reported on Tuesday that the natural rate of decline for oil and gas production is increasing, due to a greater reliance on deep-ocean and shale resources. The International Energy Agency said on Tuesday that companies would need to increase their investment pace to maintain the same output. In a press release…
Brazil's Cemig plans on leveraging hydroelectric expertise to build new power plants
Reynaldo Passanezi Filho, CEO of Brazil's Cemig state-controlled electricity utility, said that Cemig will use its hydropower experience to invest in clean technologies to boost the country's grid. Cemig has a plan to invest nearly 40 billion reais (7,4 billion dollars) from 2025 to 2029. The company prioritizes power distribution and…
Inpasa, a Brazilian biofuel producer, wants to decentralize the supply of biofuels in Brazil.
Inpasa's Vice President of Trading Gustavo Mariano Oliveira stated that the company will decentralize its supply of biofuel by focusing on regions such as Brazil's North-East and Northeast. Inpasa produces most of its ethanol in central Brazil from corn, whereas sugarcane ethanol has been the dominant biofuel in Brazil's Southeast region and in Sao Paulo (the main fuel-consuming State).
Lula: Brazil's environmental agency must be satisfied with Petrobras tests in offshore areas.
Brazil's president Luiz Inacio Lula Da Silva said that the environmental agency Ibama must be satisfied with results of a emergency drill conducted by the state-run oil company Petrobras within the Foz do Amazonas Basin. Petrobras already conducted the test. Ibama must be happy with the results, and Ibama is now going to grant us the permission to conduct the first experiment…
Why E20 fuel has caused angst on the Indian auto market
The launch of E20 by the Indian government under Prime Minister Narendra Modi has created confusion and panic in the third largest auto market. How was E20 implemented? How does it help? E20 is petrol blended 20% with ethanol. This alcohol is primarily produced from sugarcane, maize and other grains. The fuel was first introduced in April 2023 at a handful of pumps and is now available across India.
Russian Seaborne Diesel Exports Fall in August
Russia's seaborne diesel and gasoil exports fell 6% on the month in August to about 3.1 million metric tons as damage from Ukrainian drone strikes hit production, data from market sources and LSEG showed.Last month Ukraine intensified drone attacks on Russian oil facilities, targeting major refineries and oil depots mainly in southern and central Russia daily ahead of a meeting between U.S.
Petrobras passes key test for Amazon exploration license
The Brazilian state-owned oil company Petrobras concluded an emergency drill on Wednesday in the Foz do Amazonas Basin, according to the company and Brazil’s environmental agency. This was one of the last steps required to secure the controversial exploration license for the mouth of Amazon river. Petrobras sees this pre-operational evaluation…
Climate group: Methane emissions in Brazil's beef-rich country are increasing
Brazil's methane emission increased by 6% between the years 2020 and 2023. The world's biggest beef exporter released 21,1 million tons of this potent greenhouse gas. This was the second highest level in history. According to a report released on Wednesday by the Climate Observatory, 34 of Brazil's total methane emissions are attributed to the beef and dairy cattle industry.
Brazil is the largest beef exporter in the world. Methane emission levels are rising.
According to a study released by the Climate Observatory on Wednesday, three-fourths of Brazil's methane gas emissions were linked to beef and dairy cattle production, which accounted for 14.5 million tons of total emissions in 2023. This is the equivalent of 406 millions of tons of carbon dioxide (CO2) equivalent. According to a report released on Wednesday by the Climate Observatory…
CNOOC's first-half profits fall 13% due to lower oil prices
CNOOC, the Chinese offshore oil-and-gas major, reported a 13% drop in its interim net income as lower oil prices countered the impact of record oil and natural gas production. According to a Hong Kong Stock Exchange filing, the net profit attributable equity shareholders fell to 69.5 billion Yuan ($9.7billion) following a record-breaking interim profit in 2024.
Brazil's beef-tallow demand is increasing as US tariffs are hitting exports
Industry sources say that the use of beef-tallow in biodiesel in Brazil will increase due to a projected rise in domestic sales, which is aimed at increasing the production of the biofuel. They also note that a rise in the domestic use of beef-tallow would offset the likely decline in U.S. demand for Brazilian beef and its byproducts after tariffs were imposed.
Brazil's Conab reduces 2025/26 Sugar Production Forecast
Conab, Brazil's national agricultural agency, cut its forecast of sugar production for the 2025/26 year to 44.5 million tons on Tuesday. The reason given was bad weather conditions that affected sugarcane cultivation. This revision represents a 3,1% reduction in Conab’s April estimate. Conab announced that the sugar production in the center-south region…
Petrobras begins emergency drill in Foz do Amazonas basin
Two sources familiar with the situation said on Monday that the Brazilian state-owned oil company Petrobras started an emergency drill on Sunday in the Foz do Amazonas area. Petrobras considers the so-called preoperative assessment as the final step in an environmental licensing procedure to obtain a permit for drilling an exploratory oil well and gas wells in the area.
After a billion-real-loss and debt surge, shares of sugar producer Raizen have hit a record low.
The shares of Brazilian sugarcane processing company Raizen fell to a new record low after the company reported a loss of 1.8 billion Brazilian reais ($333.12million) for the first three months of the 2025/26 harvest year. Shell and Brazilian conglomerate Cosan control Raizen, the largest sugar producer in the world. The company faces high debt and operational challenges.
Petrobras Simulation for Foz do Amazonas Drilling License scheduled for late August
Ibama, the Brazilian environmental agency and Petrobras, the state-run oil firm in Brazil's Foz do Amazonas Region have planned a disaster simulation for the week beginning August 24. Pre-operational assessment is the final step before Ibama decides whether or not to grant Petrobras the long-sought license for drilling in the region. Foz do Amazonas basin shares geology with Guyana…
Colombia's Ecopetrol reports a 46% drop in profit as oil prices fall
Ecopetrol, Colombia's state-owned oil company, reported a 46% drop in its net profits for the second quarter 2025. This was due to lower oil prices globally, which impacted sales. Production also decreased. The company reported a net profit of 1.81 trillion pesos ($450 million) for the three-month period ending June, compared with 3.38 trillion pesos a year ago.
OPEC raises its 2026 oil supply forecast and reduces the growth of rivals' supplies
OPEC raised its forecast of global oil demand for next year, and trimmed their estimate for the growth in supply coming from the United States and producers outside the larger OPEC+ Group. This indicates a tighter marketplace. The prospect of higher demand and a decline in supply growth outside OPEC+ (which groups OPEC, Russia, and other…
Sources say that the CO2 levels are crucial to BP-Petrobras' partnership in Bumerangue Block.
Three sources from the Brazilian state oil company told us that a possible partnership between BP, Petrobras and the British firm to develop BP's oil-and-gas find in Brazil's Pre-salt Layer would depend on the carbon dioxide levels of the reservoir. BP's chief executive Murray Auchincloss announced on Tuesday that BP would be looking for a partner to develop its Bumerangue Block discovery…