By Energía16 10/07/2018 Despite the rise in Spain’s energy consumption, maintaining an upward trend started in 2015, when it rose by 1.8 percent from 2014, hydroelectricity went down by nearly half (49.1 percent) from 2017. This came as a consequence of the dry season, as BP stated in its Statistical Review of World Energy 2018, a benchmark publication in the …

By Energía16 09/07/2018 Fossil fuel consumption continues to dominate the energy matrix in the U.S. In fact, this has been the case for over a century. Petroleum, natural gas, and coal have historically accounted for 80 percent of the energy demand in North America. The fossil fuel share of total U.S. energy consumption in 2017 was the lowest share since …

By Energía16 05/07/2018 Fuel prices in Spain have decreased throughout this week, influenced by uncertainty in the market. Thus, this marks the fourth consecutive drop, hindering, for the time being, the upward spiral that resulted in two and a half months of price rises, Europa Press reported. In detail, diesel oil prices stood at €1.221 per liter, after falling by …

By Energía16 04/07/2018 Venezuela’s Minister of Economy and Finance Simon Zerpa informed that China has granted a $5 billion loan to Venezuela. These resources will be earmarked for oil investment and production projects in the South American nation. “We have obtained the authorization of direct investment by the Development Bank of China in the increase of the production of PDVSA …

By Energía16 03/07/2018 China is set to lead Asia’s growing natural gas demand. The Asian giant needs to significantly accelerate its transition towards renewable energies. Electrification is becoming more urgent. Meanwhile, environmental targets will boost growing natural gas demand throughout Asia over the next decade. In this scenario, China will lead the way, the Petroleum Economist assures. “Asia will be …

By Energía16 03/07/2018 Mexico has reached an amount of 50 oil well discoveries over the past five years. The country’s National Hydrocarbons Commission (NHC) published a report this week detailing some of these results. Over the past year, oil well discoveries have significantly increased in the region. The hope is that this trend can be maintained with the development of …

By Energía16 02/07/2018 The U.S. State Department Director of Policy Planning told reporters on Monday that the Trump Administration wants to reduce Iran’s oil revenue to zero. To this end, they will pressure many countries to stop purchasing Iranian crude, as international press reported. “We are working to minimize disruptions to the global market but we are confident there is …

By Energía16 28/06/2018 Saudi Aramco, the world’s biggest oil producer, has formed a joint venture partnership with US-based National Oilwell Varco (NOV). The alliance is meant to establish an integrated world-class on-shore rig and equipment manufacturing and aftermarket facility. It will be located in Ras Al Khair in Saudi Arabia, as the kingdom’s oil giant informed. Under the agreement, Aramco …

By Energía16 28/06/2018 The Mexican government has signed 16 contracts with the winners of Round Three of the energy tenders. Through the National Hydrocarbons Commission (NHC) the Mexican state awarded the 35 blocks auctioned at the International Public Tender CNH-R03-L01/2017, under the modality of Shared Production for Exploration and Extraction in Shallow Waters at three sectors in the Gulf of …

By Energía16 28/06/2018 Ecuador’s state-owned oil company Petroamazonas is seeking to reduce the energy consumed in its operations. To this end, the company began a services procurement process aimed at reducing its internal fuel consumption (diesel and oil). Petroamazonas directives assure that this will help save up to $240 million for the State in ten years. The most important goal …

By Energía16 27/06/2018 State-owned Brazilian oil company Petrobras has sold its distribution business in Paraguay to Copetrol for $383.5 million (€330.7 million), as it announced in a press statement on June 27. In this statement, the company explains that it is divesting all assets in this field. The contract will be signed by Petrobras International Braspetro (PIB BV), a subsidiary …

By Energía16 27/06/2018 Gas Natural Fenosa has changed its name to Naturgy, the new brand that will face the upcoming challenges in the company’s 2018-2022 Strategic Plan. Also, the name will be changed in all the company’s Spanish and International businesses. Therefore, the new name of the parent company will be Naturgy Energy Group, S.A., as it informed in its …