South America

Compass Gas e Energia is a Brazilian?natural?gas distributor, a 'unit of the local?conglomerate Cosan. It announced on a 'Thursday that it has filed an initial public offer (IPO) in Brazil. Compass, a company that also operates in the other parts of gas chains, announced in a filing with the Securities and Exchange Commission (SEC) that the offering would consist of existing shares. It added, "more details about the deal will be revealed in due course." This move comes after a resumption in IPOs this year by Brazilian companies?through shares offerings by digital banks PicPay & Agibank, both of which are...

Ship tracking data revealed on Thursday that Iranian dry bulk'vessels' are trying to transport their cargoes through the Gulf to the export markets for the first time since the U.S. launched an attack? on Iran at the weekend. Since the start of the conflict, international shipping has been largely shut out of Strait of Hormuz. Vessels are wary of being shot at. According to MarineTraffic, two Iran-flagged?bulk ships - the Parshad? and the Parisan? - left Iranian port Bandar Imam?Khomeini? and Bandar Abbas on Thursday and were on water heading towards Kuantan in?Malaysia. The two ships that were sanctioned by...

Data from LSEG and market sources showed that Russia's seaborne gasoil and diesel exports dropped 21% last month compared to the previous one. This was due to harsh weather conditions and unplanned refinery repairs disrupting fuel loadings. The sources say that the ultra-low-sulphur exports from Primorsk in the Baltic fell to 1.563 millions tons last month from a record of 2.256 million tons the previous month, due to severe frosts in the Baltic Sea and unplanned refinery maintenance. Since mid-February, non-ice-class vessels are barred from entering Primorsk. Ust-Luga and Vysotsk have also been restricted. However, icebreakers escorting ice1 and ice2...

The logistics of one of the main export hubs in the world for soybeans are being overwhelmed by a record harvest. Backlogs for soybeans being moved from the world's biggest producer and exporter highlight ongoing logistical challenges in Brazil's agriculture supply chain. A large portion of Brazil's soybean harvest is headed for China. It's a shame here in Miritituba," said trucker Jeferson Borges da Silva who, after driving 1,200km from Mato Grosso waited for a?30 km (20 mile) queue. "We have been waiting in line for 2 days, this was the worst year yet." Miritituba is a crucial transshipment point...

European traders reported that the 'Major Feedmill Group' (MFG) of South Korea purchased approximately 135,000 metric tonnes of 'animal feed corn on Friday in an international tender that sought up to?to?210,000 tons. Two consignments were purchased at the end of the tender. A third consignment, also requested in the tender, was not believed to be purchased after negotiations. It was possible to source corn from South America, the United States or Africa. A 67,000-ton consignment was purchased for an estimated cost and freight of $251.23 per ton plus a $1.50 surcharge per ton to cover additional port unloading. It was...

Four sources and shipping data indicate that buyers and trading houses of Venezuelan oil chartered the very large crude carriers to export the South American nation?since the Caracas-Washington deal was signed. This move will boost deliveries to India. The use of larger vessels that can hold up to 2,000,000 barrels each is expected to reduce transportation costs for buyers and traders, relieve a shortage in smaller tankers, and speed up deliveries beginning next month. This could help to drain the millions barrels stored at Venezuela faster. The Nissos Kea and Nissos Kythnos, as well as the Arzanah, are at least...

A government official announced on Monday that Brazil had decided to revoke the 'decree that would have increased Amazonian waterways as part of the federal privatization program. This decision follows the occupation by Indigenous protesters of the Cargill facility on the Tapajos River. Protesters claim that the August decree will open up Amazonian river systems like the 'Tapajos' to dredging. This could have a negative impact on water quality and fishing, both of which are vital to their survival. The rivers are used to transport grains such as corn and soy before they reach the export markets. The weekend saw...

Cargill, a U.S. grain dealer, said in a Saturday statement that indigenous protesters had occupied the Santarem 'river port terminal' in Brazil's Para State. They "completely" disrupted operations on the site. The firm stated that protesters forced employees of?Cargill? to evacuate the private terminal Friday evening. It added that it was in contact with the local authorities to ensure an eviction would be conducted "in a safe and orderly manner." According to data from the port sector, Cargill shipped over 5.5 million metric tons of corn and soybeans through Santarem in 2017. Santarem's total grain volume was 70% exported volume....

According to traffic data provided by the oilseed lobby Abiove, trucks loaded with soybeans had to wait in a line of 39 kilometers to deliver their?products to grain terminals located at the Amazonian port of?Miritituba?in Para state. Terminals are operated by Cargill, Bunge and Brazilian Amaggi, as well as the logistics company Hidrovias do Brasil. The Miritituba River Terminals are usually busy at this time of year, when they receive soybeans and oilseeds from the Center-West. They then load them onto?barges to be shipped via the ports of the North of Brazil. Abiove estimates that Miritituba, on the 'Tapajos River',...

Authorities said that at least four people were killed in the explosion of a truck transporting liquid gas, which flipped over and exploded on Thursday. A police chief said at a news conference that 17 more people were injured. The driver of the truck lost control and crashed, he explained. The authorities said that the truck driver was one of the victims. The prosecutor’s office is investigating the circumstances of the accident. The truck belonged to a local gas company Gasco. Gasco didn't immediately respond to a request from for a?comment. Social media videos showed the flames descending at the...

The lower house of Argentina's?"Congress" is expected to vote on Thursday, "on a controversial labor reform supported by libertarian president?Javier Milei", as?unions are staging a nationwide strike which has brought some parts of the country a standstill. CGT, Argentina's largest umbrella organization, says that the new reforms threaten long-standing worker rights including the right of strike. In response, the union has called a 24-hour strike involving workers in the public sector, banks, and transport. The strikers have joined the maritime workers' union, which started a 48-hour walking out on Wednesday. They are targeting the cargo vessel operations, mainly in the...

According to a decision signed by federal Judge Shamyl Cipriano, a Brazilian court restored late on Wednesday an order allowing?access?to the Santarem River port terminal operated by U.S. grain traders Cargill. The Brazilian court reinstated late on?Wednesday an order?to free up?access?to the Santarem river port terminal where U.S. grain trader Cargill operates, according to a ruling signed by federal judge Shamyl Cipriano and seen by. A federal court issued an order last Friday requiring the government to take measures within 48 hours to remove protesters and restore access to Cargill’s facility in Para. Federal prosecutors said they appealed this decision....

Energy and Mines minister Angelo Alfaro announced on Thursday that Peru has suspended natural gas exports due to a ruptured pipeline at the largest gas field in the country. The stop follows a reported leak on Sunday that forced Transportadora de Gas del Peru to'shut down' a section to isolate the damage. Alfaro told Congress that this is the worst energy crisis in the past 20 years. He added, "The reduction in the supply of (gas) has been brutal. Only 10% are being delivered." The Ministry of Energy and Mines declared a 14 day emergency for the national pipe network...

Cuba's Energy Ministry announced on Thursday that power was being restored to the nation after a?outage? on Wednesday. The island's communist government, which is run by Trump, has been under increased pressure to reduce oil shipments. The ministry announced on X that the grid had been reconnected by 'early Thursday' from Guantanamo, in eastern Cuba, to Pinar del Rio, in the far western part of the island. According to the local utility EELH in Havana 22?substations? and 102 distributions circuits?representing roughly?36%?of the city?had been restored. The firm stated that the process would continue gradually as the conditions of the national...

LSEG data and traders' reports indicate that Russia is diverting its naphtha from Oman to Singapore as it searches for new buyers. At least one tanker has now headed for Singapore. Iran's retaliatory?attacks on Gulf countries have caused disruptions in energy production, shipping and naphtha discharges. Since the European Union embargo against Russian oil products came into effect in February 2023 most Russian naphtha is being shipped to the Middle East and Asia. Middle Eastern countries also are the largest suppliers to Asia. The recent disruption has pushed Asia's naphtha price to four-year heights. According to LSEG, the Liberia flagged?tanker...

Havana residents are repairing threadbare tires on their old bikes and in some cases learning to ride as fuel becomes scarcer in Cuba due to the U.S. taking over Venezuela's oil. Venezuela, which was a "key" ally of Cuba, was the island's main source of fuel and crude oil for over a quarter of a century. That is, until January, when the U.S. captured Venezuelan President Nicolas Maduro. Cubans are now in a survival mode due to the drying up of this supply. They have to deal with longer blackouts, rising prices for transportation and food as well as?fuel -...

Tuesday, oil prices fell 1% after Iran said it would take all 'necessary measures' to reach a deal with the United States. This came following weeks of the U.S. increasing its military presence in the Middle East. Brent futures closed at $70.77 a barrel, down 72c or 1%. WTI futures fell 1% as well, closing at $65.63, a decrease of 68 cents. Oman's Badr Albusaidi, the Foreign Minister of Oman, said that the U.S. and Iran will be holding a third round of talks in Geneva on Thursday. Iran is the third largest crude producer within the Organization of Petroleum...

Sources and data indicate that trading houses and buyers of Venezuelan oil chartered the very large crude carriers to export from the South American nation since the Caracas-Washington deal was signed. This is expected to increase shipments to India and speed up the process starting in March. Trading firms Vitol & Trafigura export Venezuelan crude oil & fuels since January. This is part of the $2 billion deal that the U.S. & Venezuela signed after the capture of President Nicolas Maduro. According to data on vessel movements, the 'lion's share' of exports has been made by Panamax and Aframax tanks...

Authorities?said that the Dominican Republic experienced a nationwide 'blackout' on Monday due to a?major failure? in its national power grid. This is the second occurrence of a?outage? within three months. As crews repaired the power outage, traffic was halted and public transport services were disrupted. Some businesses had to close as they worked to restore electricity. Joel Santos of the Ministry of Energy and Mines in Colombia, who spoke at a press briefing, stated that a failure occurred in the grid around 10:50 am. Santos stated that the power outage occurred due to a faulty transmission line switch which tripped...

A rig that drills wells in shallow water completed its long journey from China to Venezuela’s oil-producing Lake Maracaibo region. Residents and workers were excited to see the passage of a big old rig called Alula, which passed just inches below a bridge that connects Maracaibo with the oilfields on the eastern shore of Lake Maracaibo. This was due to U.S. sanctioned. The rig struck an oil pipeline while it was passing through the lake, and also over the metallic spaghetti that was 20,000 kilometers worth of pipes below the water. The oil leaked out for several months before repairs...

Asuncion, the capital of Paraguay, began receiving power on Wednesday after some transmission lines were taken offline. This knocked out power in much of South America. The state power company ANDE said that one of the transmissions lines was re-started, and it is normalizing the?power distribution in Asuncion and its surrounding metropolitan area. ANDE released a statement saying that "technicians are continuing to do the necessary work to restore service across the country." The outage affected the northern and eastern regions of the country. Drivers in the capital were thrown into chaos when traffic lights went dark. The blackout occurred...

Annand Jagesar, the managing director at Suriname’s Staatsolie state-run company, stated that a pipeline connecting the two neighbors Guyana and Suriname would be of 'high interest,' to increase the?availability?of fuel. The two countries have developed their offshore oil and gas industries separately. An Exxon Mobil consortium is 'rapidly increasing crude output' and aims to begin non-associated gas production in Guyana within the next few years. A consortium led by TotalEnergies in Suriname is expected to "begin oil production" through the $12 billion Gran Morgu Project, while another natural gas project nears a final investment decision. Since years, Guyana and Suriname...

Police said that at least 10 people died and several others were seriously injured when a bus fell 'about 100 metres (330 feet) into a ravine in Bolivia's mountains on Thursday night. Residents and authorities in the Camacho Province, north of La Paz's capital, worked long hours to rescue those trapped by the crash. Images shown on local television and social media showed the extent of the tragedy, including the bodies of victims, as well as injured passengers, some of whom were minors. Local media reported that emergency teams evacuated survivors from the crash and transported them to hospitals. Local...

Traders and LSEG data show that Russia has increased its naphtha exports to STS and port storage hubs, as key buyers reduce imports due to?Western sanction pressure. Since the European Union's full embargo against Russian oil products went into effect in February 2023?,?most? of?Russian naphtha is being directed towards the Middle East and Asia. India and Taiwan were among the largest Asian buyers. However, recent U.S. sanction have caused both countries to withdraw. According to LSEG, Taiwan hasn't imported Russian naphtha from the beginning of 2026. This compares with 2.7?million tonnes in 2025. Shipping data showed that traders were avoiding...