Brazil's Batista Family seeks to expand its footprint in the Oil Sector
According to two sources familiar with the deal, Brazilian oil and natural gas company Fluxus is owned by J&F Group, the holding firm of the Batistas. It has made a nonbinding offer to purchase the assets on land of Brava Energia. J&F acquired Fluxus in 2023. It also purchased a Pluspetrol oil field in Argentina. Fluxus' growth continued in 2024 when it acquired Pluspetrol Bolivia which included three oilfields. According to a source who asked to remain anonymous due to the nature of the discussion…
Argentina negotiates gas imports with Bolivia and Chile after heatwave increases demand
Bolivia and Chile have begun talks to resume gas exports to Argentina, amid a spike in demand sparked by a heatwave this summer. This highlights the challenges facing the government of Buenos Aires in its quest to become self-sufficient in energy. Armin Dorgathen Taia, the head of Bolivia's state energy company YPFB told me by phone on Friday that "we are in a negotiations with Argentina to create a contract spot". These talks were previously unknown.
Executive: Bolivia and Argentina in talks to restart gas supply due to spike in demand
Bolivia's state energy company YPFB has begun talks with Argentina to resume gas exports, amid a spike in demand sparked by a heatwave this summer. This highlights the challenges facing the government of Buenos Aires in its quest to become self-sufficient in energy. Armin Dorgathen Tapiea, the YPFB's chief, told a reporter by phone on Friday that "we are in a discussion with Argentina about creating a spot contract." These talks were previously unknown.
Sources say that India's palm oils imports will hit a 5-year low on January due to negative margins.
India's palm-oil imports will plunge to their lowest level in five years this January due to negative refining margins. The tropical oil's higher price than its rivals is driving buyers to soyoil which is more competitively priced, according to government and industry officials. The world's largest buyer of vegetable oil, Malaysia, could reduce palm oil imports and weigh down on Malaysian benchmark palm oil prices. However, this would support U.S. soybean oil futures.
JPMorgan Upgrades YPF and Expects Further Growth for the Argentine Energy Sector
In a client note, JPMorgan analysts raised their rating of Argentine oil company YPF. They said that the energy sector in South America has more room to grow as part of its "economic transformation". The U.S. Investment Bank raised its YPF recommendations to "overweight" and from "neutral." It also more than doubled the price target from $25.00 to $59.50 for each American Depositary Receipt. In 2024, YPF shares soared by more than 150% during a major…
Palm oil prices rise on the back of bargain-buying and strong competition oils
Malaysian palm oils futures rose Friday on the back of bargain-buying and higher rival edible oil prices, but weaker export estimates limited gains. The benchmark contract for palm oil delivery in March on the Bursa Derivatives Exchange rose 82 ringgit or 1.8% to 4,625 Ringgit ($1,035.14) per metric ton. The contract rose 4.33% last week, ending a two-week slide. Anilkumar Bagani said that the price of crude palm oil futures was higher in Asian hours, due to bargain-buying, a weaker Malaysian Ringgit, and gains in Chinese Vegetable Oil Futures.
Palm oil prices rise on the back of bargain-buying and stronger competition in edible oils
Malaysian palm oils futures were up on Friday, and on course to record a weekly gain. This was boosted by bargain-buying and the strength of rival edible oils. The gains were however capped by weaker estimates of exports. At midday, the benchmark March palm oil contract on Bursa Derivatives Exchange rose 44 ringgit or 0.97% to 4,587 Ringgit per metric ton. The contract has gained about 2.46% this week, and was expected to end a two-week slide. Anilkumar Bagani said that the price of crude palm oil futures was higher in Asian hours…
Oil rises by 1% in a 3-week period as sanctions on Russia and Iran increase
The price of oil rose by about 1% on Friday to a record high for three weeks, as a result of expectations that additional sanctions against Russia and Iran would tighten up supplies. Lower interest rates in Europe or the U.S. may also boost the demand for fuel. . U.S. West Texas Intermediate crude (WTI), which is a blend of oil from Texas and Louisiana, rose by 79 cents or 1.1% at $70.81. Both crudes were heading for their highest closings since November 22. Brent was on track for a gain of 4% and WTI, a gain of 5%.
Argentina's Pampa Energia joins LNG export project
Pampa Energia, a subsidiary of Argentina's Pampa Energia, announced on Friday that it had joined Pan American Energy (PAE) and Golar in a joint project to export liquefied gas from the South American country. Pampa Energia announced that it will own a 20% stake of Southern Energy, a joint venture between Pan American Energy and Golar to produce LNG. The project will require $2.9 billion in investment over the next ten years to achieve its goal of exporting 11.5 million cubic metres of LNG each day.
Rystad reports that Argentina's Vaca muerta region has achieved record oil production during the third quarter.
Rystad, a consultancy, said that Argentina's Vaca Muerta shale formed produced a record 400,000 barges of oil per day (bpd), in the third quarter. This figure represents a 35% increase in production year-over-year, thanks to improvements in productivity and evacuation capability. The formation is on track to reach its goal of 1,000,000 bpd, by 2030. YPF, the state-owned oil company of Argentina, led the production in the area with 55% Vaca Muerta’s oil output during the third quarter.
Palm oil prices near record highs as Soyoil takes the lead -Braun
Palm oil is not the cheapest oil in the world, despite being the most abundant vegetable oil. Supply concerns have driven up the price by almost 30% this year. Prices for soybean oil, a rival product, have fallen by more than 11 % this year due to record global soybean production. In recent weeks, this has led to a near-record discount in palm oil compared to soybean oil. Palm oil makes up about 40% of the global production of major vegetable oils, including rapeseed, sunflower, and soybean oil. Palm oil is therefore almost always cheaper than soya oil.
Palm extends its losses amid China trade fears and weak demand
Malaysian palm futures fell for the second session in a row on Thursday as concerns about U.S. Tariffs on China, and a weakened demand for palm, sparked a sale on the vegetable oil market. At the close, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for February delivery fell 46 ringgit or 0.96% to 4,769 Ringgit ($1,069.28). The contract fell by 2.21% during the previous session. Paramalingam Supramaniam is the director of Selangor brokerage firm Pelindung Bestari.
French farmers take to the streets in protest at Mercosur trade negotiations
Farmers protested across France Monday against the prospect of an agreement between the European Union (EU) and South America’s Mercosur bloc that will intensify the competition in the French agricultural sector. The EU, along with four Mercosur countries - Argentina Brazil Paraguay Uruguay - is pushing for the conclusion of long-running commercial negotiations before the end the year. The protests on Monday were the largest since French farmers staged weeks-long demonstrations in January last year over lower imports, burdensome regulation and low incomes.
Report: Senior aide of Argentina's Milei claims Shell is eyeing LNG investment
According to the newspaper La Nacion, the cabinet chief of Argentine president Javier Milei cited Shell as a possible investor in a future liquefied gas (LNG), project that will be managed by YPF, Argentina's state-owned oil company. La Nacion reported that Guillermo Francos, the Cabinet Chief, said during an event the major energy company had shown "strong interest" for a possible LNG investment in the nation. Cynthia Babski, Shell's spokesperson in an email…
Report: Senior aide of Argentina's Milei claims Shell is eyeing LNG investment
According to the newspaper La Nacion, the cabinet chief of Argentine president Javier Milei cited Shell as a possible investor in a future liquefied gas (LNG), project that will be managed by YPF, Argentina's state-owned oil company. La Nacion reported that Guillermo Francos, the Cabinet Chief, said during an event the major energy company had shown "strong interest" for a possible LNG investment in the nation. Cynthia Babski, Shell's spokesperson in an email…
Exporters group says Brazil is likely to export record volumes of soybean meal by 2024.
According to the local grain traders' lobby Anec, Brazil's soybean meals exports will likely set a record in 2024, surpassing the previous best mark recorded in history in 2023. According to the US Department of Agriculture, Brazil will once again be the world's second largest soybean meal exporter in 2023/24. It had previously been the leader in 2022/23, following a crop failure that occurred in Argentina, the traditional leading exporter. Brazil also leads the world in soybean production and exports.
Argentina's Pampa Energia will pump $1.5 bln into a key shale-oil project by 2027
Pampa Energia, a natural gas producer in Argentina, announced on Thursday that it plans to invest $1.5billion between 2025-2027 in order to increase production in a major oil field in the massive Vaca Muerta shale deposit. Pampa Energia announced its intention to invest $700 millions next year in the Rincon de Aranda shale shale in western Neuquen Province. According to the presentation, the investment in the project will reach $1.5 billion between 2027 and 2027.
YPF, the Argentine oil company, is focusing on Vaca Muerta and a production boost by 2025.
The CEO of Argentina's state-owned oil company YPF, Horacio Martin, said that the firm expects shale production to rise by 30 to 40 percent next year. Marin said that YPF, during a conference call to discuss its financial results, will concentrate its capital investments in its main shale resources, specifically the massive Vaca Muerta Formation. Vaca Muerta has the second largest shale-oil reserve in the world and is also home to one of the largest shale-gas reserves.
Bunge's takeover of Vicentin, a bankrupt soy company, is set back by court decisions in Argentina
A court in Argentina has ruled an agreement between Vicentin, the soymeal giant, and its creditors unconstitutional. This will hinder any attempt to takeover the bankrupt company that is stuck in a long legal battle. The Supreme Court of Santa Fe Province, where Vicentin's headquarters is located, has ruled that the company must negotiate a new deal with its creditors before a proposed acquisition by U.S. grains traders Bunge and Glencore-backed oilseeds crusher Viterra, as well as local group ACA, can proceed.
Vista Energy accelerates oil production in Argentina
Vista Energy's chief executive announced on Thursday that the company expects to reach a 100,000 barrels per day oil equivalent goal next year. This was originally set for 2026. The company is betting on a higher output from the top shale formations in the world. In a press release following a quarterly earnings conference, the company said it would invest between $1.1 billion and $1.3billion next year in order to achieve its revised target of bringing 60 wells online.
