Bolivian police raid the offices of the state energy company YPFB
Bolivia's anticorruption police and 'public prosecutor's' office raided YPFB's offices in 'the 'cities of La Paz' and 'Santa Cruz' on Friday as part of an investigation into alleged irregularities with the purchase of fuel. Witnesses confirmed the raid to local media. The investigation was launched in response to complaints made by members of Congress, including Vice President Edmand Lara. They alleged that the cost of oil procurement had increased compared with previous administrations. YPFB didn't immediately respond to a comment request. The probe is looking into contracts and oil purchases made by Trafigura, a global commodity trading firm.
US Energy Department restores funds to carbon removal projects
According to a list of major projects that the Department of Energy sent to Congress earlier this week, the funding will be retained for?carbon direct-air capture? awarded during the Biden administration. In October last year, DOE considered canceling billions of dollars worth of funding for clean energy programmes, including awards for auto manufacture, hydrogen, and carbon capture. Two major direct air capture hubs, one in Texas and the other in Louisiana, which received $1.2 billion in?awards under former President Joe Biden’s administration are slated to be cancelled.
Energy chief: First new nuclear reactors planned in the US likely to receive government loans
Chris Wright, the U.S. Energy Department Secretary, told Congress in a Thursday hearing that "almost certain" the first five to ten new nuclear reactors planned for America will receive loans from its?lending department. Last year, President Donald Trump signed a?executive Order calling for ten new large nuclear reactors to be built by 2030 and for the 'Nuclear Regulatory Commission' to expedite reactor approvals. There is currently no approved plan to build large new reactors. The final U.S. nuclear reactors, which will be operational in Georgia's Vogtle, are seven years behind schedule and cost $17 billion over budget.
The oil lobby group claims that the export tax in Brazil is an obstacle to new investment
The 12% tax on exports of crude?oil, which was introduced by the Brazilian government about a month ago, is a barrier to new investment by oil companies, according to the head lobby group IBP, who said at an event held on Wednesday that the group may file a suit against the tax. The 12% export tax was created when oil prices spiked due to the U.S./Israeli war against Iran. At the same time, the government scrapped local taxes on fuel sales in order to reduce prices for consumers. Roberto Ardenghy, IBP's head of the Oil & Gas sector, said that the tax was not appropriate.
The oil lobby group claims that the export tax in Brazil is an obstacle to new investment
The head of the lobby group IBP said at a Wednesday event that Brazil's new export tax on crude oil, which was created by the government a month ago, is a hurdle to new investments for oil majors. He added that the group may file a suit against the tax. As oil prices rose due to the U.S./Israeli war against Iran, the government abolished?local taxation on fuel sales in order to reduce prices for consumers. Roberto Ardenghy, IBP's head of corporate affairs, said: "This tax is not appropriate. Ardenghy said that the lobby group representing oil majors in Brazil will sue the Brazilian government to determine the legality and fairness of the tax.
Energy prices spiked ahead of the election, threatening Brazil's free gas for cooking program
Fuel?distributors and resellers?and analysts?warned, six months before a presidential elections?that rising energy prices could?scupper?a popular Brazilian program?that?provides?free cooking gas?to around 50 million people?. As he prepared to run for re-election in October, President Luiz inacio Lula launched his "People's Gas Program" as his main energy initiative in November. The U.S. and Israel war against Iran has pushed up the price of liquefied gas in Brazil. Lula was furious after a Petrobras auction drew premiums up to twice the reference price.
US gas prices reach $4 per gallon due to the Iran war which has wreaked havoc on energy supplies worldwide
The U.S. average gas prices rose to $4 per gallon for the first time since more than three years on Monday, according to data from the price tracking service, GasBuddy. This was the largest monthly increase in decades. Last August 2022, after the Russian invasion of Ukraine, was when we reached $4 per gallon. Analysts have called this price a psychological barrier to consumers. The price of crude oil, which is used to make gasoline, has also risen, as have the prices of many other goods since Iran banned most shipping through Strait of Hormuz. Even before the rise in gasoline prices, U.S. household costs were increasing.
Iranian strikes burn oil tankers, despite Trump's claims to have won war
Two oil tankers caught fire in an Iraqi harbor on Thursday, after being hit by a boat suspected to be laden with explosives. This was a new attack that has cut off Middle East oil and defied Donald Trump’s claim of having?won' the war launched two weeks earlier. Images that were verified as having "been filmed" from the shores of Basra port showed massive orange fireballs lighting up the night skies, following the attacks Iraqi authorities had blamed on Iranian vessels. One crew member died. Three other ships were also struck by missiles in the Gulf a few hours earlier. Iran's Revolutionary Guards have claimed responsibility for one of these attacks.
Peru taps its fuel reserves to fight worst energy crisis in 20 years
Denisse Miralles, the Prime Minister, said that 'the Peruvian government will use its fuel reserves to safeguard the domestic supply.' This comes after a gas pipeline rupture triggered what has been described as the worst energy crisis for 20 years. She added that the government will encourage public and private sector employees to work remotely, while converting schools to online education. Emergency measures were taken after the suspension of natural gas exports by Peru on Thursday, as it tries to control the consequences of Sunday's gas-pipeline explosion that snuffed out energy supplies and caused a power crisis.
Trump's tariff reversal may reduce costs for US energy companies, but it will likely not affect broader flows.
Although the U.S. Supreme Court’s decision to overturn trade tariffs that President Donald Trump imposed last year could ease costs for certain?oil drillers and producers, analysts and experts said that energy flows in general would?remain unchanged for now. The ruling of the court could lower the cost to build LNG plants and large-scale infrastructures that depend on modules and parts made in countries affected by tariffs. Venture Global, for instance, builds its LNG plant components in Italy and then imports them to the U.S.A. for final assembly. Trump's tariffs increased costs for U.S.
Environmental groups protest Trump's decision to repeal US climate regulations
On Wednesday, a coalition of environmental and health groups sued the Trump administration over its decision?to revoke?the scientific findings that form?the basis of?U.S. Climate regulations. The lawsuit filed before the U.S. Court of Appeals in the District of Columbia challenges also the Environmental Protection Agency decision, announced last week, to repeal the tailpipe regulations that limit greenhouse gas emission from cars and trucks. The groups suing include the Center for Biological Diversity, ?American?Lung Association,?American Public Health Association,?Union of Concerned Scientists, Natural Resources Defense Council, Public Citizen and ?Sierra Club.
California's top air regulator: Trump opposes tax credits and EV regulations, but California is accelerating work on them.
California's top air regulator announced that officials will meet with Detroit automakers to discuss the next phase in greenhouse gas regulations for vehicles and trucks. California is fighting President Donald Trump in the U.S. Congress and in?the court against his efforts to dismantle federal vehicle emission standards. Lauren Sanchez, Chair of the California Air Resources Board and Governor Gavin Newsom, said in an interview that Newsom will announce next week details of a $200 million "electric" vehicle incentive program. The program is intended to fill the gap created by Trump's budget bill, which eliminated federal tax credits on new electric vehicles last year.
House Democrats warn oil companies about risks associated with Venezuelan transactions
Twelve House Democrats sent a letter on Wednesday to '21 companies that attended the White House meeting held on Jan. 9, about developing Venezuelan oil resources. They warned them of legal and financial risks associated with any transactions or investments they made there. The letter was written by Democratic Congressman Sean Casten. It stated that despite assurances given by the Trump administration, their failure to inform Congress about its legal basis for exercising control over Venezuela's assets places any investments made at risk of being questioned by Congress, a new U.S. President or Venezuelan Government.
Trump touts the economy in Iowa as protests roil Minnesota
U.S. president Donald Trump arrived in Iowa, Tuesday. He was seeking to shore up his support in a Midwestern battleground. An escalating conflict over immigration enforcement in Minnesota could drown out the economic message. The Republican President, whose economic and immigration policies are lagging, will try to rally his rural supporters in an area that is hosting key congressional elections?in November. The mounting stress on the farm economy, and the delays in biofuel policies are testing the patience and renewable fuel producers. The Republican president is under pressure from voters to show that he's reducing costs.
Trump visits Iowa amid farm stress and biofuel delays
The President Donald Trump is scheduled to travel to Iowa, on Tuesday, to boost his political support. This state is critical to the rural coalition of Trump, and farmers and producers of renewable fuels are becoming increasingly frustrated with the 'farm economy and its mounting pressure. The visit to the nation's biggest producer of corn and ethanol coincides with growing concern over low crop prices, high inputs costs, and policy uncertainty that threatens Trump's support across the U.S. Farm Belt. Lance Lillibridge is a 56-year old corn and beef farmer who plans to drive two hours from Vinton, Iowa to Des Moines to meet Trump.
After E15 deal fails, US Congress creates ethanol taskforce
After a failed attempt to include such legislation into a funding bill this week, Republican U.S. legislators plan to form a taskforce to examine the potential for year-round sale of?E15 gasoline blended with higher ethanol in the U.S. Farm groups and Midwest Ethanol advocates have blasted the formation of a taskforce instead of legislation. They called it a blow for American farmers who are already hurt by low prices, uncertainty in global trade and a lack?of clarity regarding U.S. Biofuels Policies. Farm groups want E15 to be sold year-round, as it has a higher ethanol content. This would increase demand for corn as the primary ingredient in ethanol.
Venezuelan oil companies are pushing for rapid reforms to allow them to control oil exports
Sources involved in the talks say that oil executives and lawyers from international oil companies are lobbying for changes to the hydrocarbon laws of OPEC members in order to 'give them the freedom to export the oil produced in Venezuela. Many potential investors want to know how they can make this happen without waiting years for the legal and contractual reforms to protect their investment. Representatives of international oil companies want to get things moving. They are asking for a few changes to the current legal framework in the oil industry.
US Supreme Court rejects Citigroup's appeal in lawsuit against Mexican oil company fraud
The U.S. Supreme Court declined to hear Citigroup’s appeal on Monday, despite the fact that the lawsuit accused the?bank for orchestrating a massive fraud against the Mexican oil and gas company Oceanografia. This lawsuit claimed the?bank caused more than $1 billion in losses. The Justices rejected Citigroup's appeal against a May 2025 lower court decision to revive a decade-old lawsuit brought by over 30 plaintiffs, including Oceanografia bondholders and shipping companies as well as Rabobank of the Netherlands. The Supreme Court, by doing this, allowed the lower court's ruling to stand.
The US government is under pressure from the Fusion Energy Industry to provide billions of dollars in support
On Monday, fusion energy industry leaders met U.S. Department of Energy representatives to encourage them to provide billions of dollars to projects that seek to?generate electrical power by the same process as the sun. In November, the?department?created an Office of Fusion as part of a reorganization which focused on fossil and nuclear energy. Renewable energy offices were eliminated. The Trump administration has reversed billions in funding that former President Joe Biden authorized for?hydrogen- and renewable energy projects. Andrew Holland…
Florida lawmakers ask Trump to reject drilling on the western coast of Florida
Florida's entire U.S. Congress delegation urged President Donald Trump on Thursday to exclude their state from a plan of his administration to expand drilling for oil and gas to new coastal areas. They said it would threaten Florida's tourism and military industries. The letter from Florida Senators Rick Scott, Ashley Moody, and the 28 House members of Florida was a rare example of bipartisan opposition to the Republican President's policies. The majority of Florida's congressional members are Republicans. The letter stated that more than 50,000 jobs are linked to military facilities in the Florida Panhandle.
