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The U.S. Department of Energy is expected to announce a loan of oil from the Strategic Petroleum Reserve on Tuesday in coordination with other countries, a Biden administration source familiar with the situation said.
Democrats in the U.S. House of Representatives on Monday urged President Joe Biden to release crude oil from the U.S. Strategic Petroleum Reserve (SPR) and reinstate - at least temporarily - a ban on oil exports to help drive down surging energy prices.
Brazilian President Jair Bolsonaro lamented on Saturday that state-run oil company Petrobras sets domestic fuel prices independent of government interference and repeated his desire to privatize the firm.
The small Central American nation of Costa Rica has managed some revolutionary changes over the past century - from fully disbanding its military to providing universal healthcare coverage and restoring vast acreage of lost tropical forests.
In late July, Costa Rica’s legislature was scheduled to vote on a bill to permanently ban any extraction or exploration of fossil fuels in the Central American nation, noted for its international green leadership and reliance on clean hydropower.
Executives at Brazil's Petrobras on Fridayeffectively brushed aside suggestions that the company was too profitable and should lower its fuel prices, telling analysts that it had no plans subsidize consumers at the pump.
CNOOC Ltd's unaudited third-quarter revenue grew 64% to 59.7 billion yuan ($9.33 billion) on higher prices and output, the Chinese offshore oil and gas major said on Thursday.
Brazil's Petrobras posted third-quarter results on Thursday that smashed profit and margin estimates, less than two hours after President Jair Bolsonaro said the state-run oil company was too profitable and would have to contribute more to society as a whole.