South America

Brazil's Petrobras to auction 20 MM liters of diesel amid shortage reports

A spike in diesel prices is emerging as the first and most immediate threat to Brazil's farm sector from the U.S.-Israeli attacks on Iran, raising costs for producers harvesting a record soybean crop and planting corn they cannot afford to delay.

IEA announces record release of strategic stocks in response to Iran war oil price surge

The IEA said the release had been backed unanimously by 32 member countries, the sixth such move it has made since its creation in the 1970s.

U.S. fuel exports see slight uptick in 2025

Brazil's antitrust watchdog approves private equity firm's controlling stake purchase in Braskem

Shell committed to backstop Raizen with $668-MM investment, Brazil CEO says

Raizen has reported a string of losses and soaring net debt in recent quarters amid costly investments and poor weather negatively impacting crops, prompting the company to warn in February of "significant uncertainty" about its ability to keep operating.

Motiva buys cargo of Venezuelan heavy oil for March delivery; first purchase since 2019

Aramco acquired Motiva Trading in 2023 and became the sole supplier of Motiva Enterprises, which owns the 640,500-bpd refinery in Port Arthur, Texas, the largest in the United States.

Mubadala's Acelen to boost diesel capacity at Brazilian refinery Mataripe by 10%

Mataripe, Brazil's second-largest refinery, accounting for about 14% of national capacity, is set to increase diesel production to 13,700 m3d from 12,400 m3d.

U.S. seeks forfeiture of oil tanker and 1.8 MMbbl of Venezuelan oil

The oil supertanker was seized by the U.S. near Venezuela in December as part of a pressure strategy against President Nicolas Maduro, who was captured in a U.S. military operation on January 3.

HIF Global and German eFuel One GmbH sign HoA for e-methanol offtake

Venezuela's refineries boost processing to 35% of capacity