TGS, a subsidiary of Argentina's TGS, to invest $3 billion in a natural gas liquids project
The Argentine energy company Transportadora de Gaz del Sur (TGS), announced on Wednesday that it 'will invest $3 billion 'in a new natural-gas liquids project within the Vaca Muerta shale. Exports of approximately $1.2 billion per year are expected from the project over a period of almost four years. The company intends to submit 'the project to a large scale investment incentive scheme known as RIGI. This was introduced by the administration of President Javier Milei.
Argentina restarts construction of the Santa Cruz Dam complex in south
The Economy Ministry reported that the government of Argentina and the state energy corporation?ENARSA had agreed to'restart construction' of the Santa Cruz Hydroelectric Dam?complex located in the southeastern part of the country. This agreement was reached after resolving longstanding disputes with contractors. In a recent statement, the Ministry of Environment said that the Jorge Cepernic Dam, the smaller structure, which is 46% complete, was the first priority to'restart.
Mercuria profits fall as the company expands into metals and LNG
Mercuria's?chief finance officer? told a reporter on Friday that the trading house had posted a 6% drop in profit for 2025, despite expanding its metals and physical LNG businesses, as well as its shipping business, from Latin America into Central Asia. Trading?houses' profits fell from the record highs in 2022-2023 when energy prices rose due to Russia’s invasion of Ukraine. Merchants reinvested profits in business expansion, equity and dividends while paying record amounts.
Shell to provide more support for Brazil sugar-ethanol JV Raizen sources claim
Shell, the oil major and the "healthier" joint-venture partner of Brazilian sugar and alcohol producer Raizen, is prepared to invest more in a recapitalization for the "distressed" company, according to three sources familiar with the matter. The world's largest sugar producer, Raizen, is facing financial difficulties after it posted a net loss for the third quarter of $15.6 billion ($3 billion) at mid-February. It also warned that there was "significant uncertainty" regarding its ability to continue operating.
Brazil's Raizen claims $2 billion in impairment is due to financial issues and not operational challenges
Executives said that Brazil's Raizen had no operational issues and its third quarter impairment of 11.1 billion Reais ($2.12billion) reflects financial difficulties but does not impact liquidity. This was after the company announced "significant uncertainty" regarding the firm's ability?to continue operating. Late Thursday night, Raizen, a joint venture of Shell and Brazilian conglomerate Cosan, reported a quarterly net loss record of 15.6 billion Brazilian reais…
YPF's XRG and ADNOC XRG sign agreement to advance Argentina LNG Project
Argentine's state oil company YPF, Italy’s?Eni, and Abu Dhabi National Oil Company’s international investments arm XRG'signed a binding 'joint 'development 'agreement' to advance Argentina LNG. The project is expected to achieve a liquefied gas capacity of 12,000,000 tons per year, XRG stated in a Thursday statement. In a statement, YPF's CEO Horacio Martin said that the deal marked XRG’s formal inclusion. The three companies would work together to reach a?final investment decision by the second half 2026.
Sources say Mercuria is moving closer to purchasing Raizen's Argentine assets worth over $1 billion.
According to two sources familiar with the situation, a Swiss-founded energy company Mercuria Energy Group is advancing in its bid to purchase a'refinery' and a large number of gas stations located in Argentina. The acquisition would be from Raizen, a Brazilian sugar and ethanol producer in financial trouble. A source told us that the deal may be done soon, but there is still a chance it won't be. The signing could still be weeks away according to a second source.
Sources say Mercuria is moving closer to purchasing Raizen's Argentine assets worth over $1 billion.
According to two sources familiar with the situation, Mercuria Energy Group is advancing in its bid to purchase a refinery in Argentina and hundreds of gas stations from Raizen, a Brazilian sugar and ethanol producer in financial trouble. A source told us that the deal may be done soon, but there is still a chance it won't be. The signing of the agreement could be weeks away, according to a'second source.' She added that the transaction will likely exceed $1 billion. However, no binding agreement has been signed.
Milei's Argentinean counterparts could face challenges if Vaca Muerta oil production slows down.
The Vaca Muerta oil field in Argentina, which is the fourth largest unconventional oil reserve in the world, has plateaued due to low oil prices and increasing costs. This slowdown could complicate Javier Milei's political agenda. The Vaca-Muerta formation, located in western Argentina, accounts for 64% the country's total oil production despite only 8% being under development. It's vital for Argentina's future economic and Milei's Government…
Gualcamayo Gold Mine in Argentina to receive $665 Million Investment under Incentive Program
In a recent tour of the mine, executives revealed that Gualcamayo's gold mine in Argentina is planning to build a $665 million project. They hope it will qualify for a government incentive program. The Large Investment Incentive Regime (RIGI) of Argentina, under the presidency Javier Milei, has only approved two lithium mining projects. In an interview conducted earlier this month, Ricardo Martinez said that Gualcamayo had originally proposed a one-billion-dollar investment.
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. Raizen's core profits fell 23.4% on an annual basis to 1.89 billion reais. This was below the 2.16 billion reais expected by LSEG analysts.
Eni, YPF Sign Agreement On Argentina LNG Project
Italian energy group Eni and Argentina's YPF on Friday signed an agreement on the Argentina LNG (ARGLNG) project during a meeting in Rome between Italian Prime Minister Giorgia Meloni and Argentine President Javier Milei.Eni will act as a strategic partner of YPF on the Argentina LNG project and make use of the know-how it has developed in its floating LNG projects in Congo and Mozambique, the Italian group said in a statement.The Argentina LNG project…
Argentina wants to increase lithium production by 75% by 2025 and sees no danger from trade war
The Argentine Chamber of Mining Companies said that Argentina, which is the fifth largest lithium producer in the world, will produce 130,800 metric tonnes of lithium carbonate (LCE) by 2025. This represents a 75 percent increase over 2024. According to Alejandra Cardona of CAEM, the executive director, a major boost in production will come from the expansion of operations in Catamarca, Jujuy and Salta, which are the provinces north with the biggest lithium operations. Cardona reports that Argentina has six lithium operations.
Sources claim that Indian state firms are interested in SQM’s lithium projects in Australia.
Four sources have confirmed that four Indian state firms were in discussions with Chilean mining company SQM about acquiring a 20% stake of its two projects in Australia. The deal would cost $600 million. This is New Delhi's largest effort to secure supplies for the metal used in EV batteries. Sources said that Khanij Bidesh India Ltd, a government-backed company, has partnered up with Coal India Ltd, Oil India Ltd, and ONGC Videsh in…
Argentine workers strike, halting soy crushing factories
The CIARA industry association reported that on Thursday, activity was halted in Argentina's soy-processing plants as the oilseed workers union SOEA began a strike to protest layoffs and the actions of the national security forces. The strike began late Wednesday night after members of Argentina's Naval Prefecture interfered with a demonstration by biodiesel producer Explora SA, in the Rosario area, a major agribusiness center. The Federacion Aceitera…
After Halliburton layoffs, the Argentine oil union has threatened to strike
The union of oil and gas workers in Argentina's oil rich Chubut province, which has hundreds of employees laid off by Halliburton and a local office closing, threatened to strike after Halliburton closed its local office and dismissed hundreds. Carlos Gomez said that the Chubut Private Oil and Gas Union's deputy secretary, Carlos Gomez spoke on the broadcast radio channel of the union, and claimed that the company had reneged on its commitment to maintain staffing levels and fired 290 employees on Monday without notice to the union.
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%…
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.
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…