[El petróleo venezolano] es muy útil para China, para sus refinerías, y China quiere mantenerse muy diversificado en términos de diferentes fuentes de petróleo. Le conviene seguir comprando a pesar de las sanciones.
The most competitive [oil producers] will be the countries with lower oil extraction costs. Some projects will not be economically viable.
Regulatory changes under the current administration [in Mexico] are undermining incentives to invest in the [renewable energy] sector.
Addressing the climate emergency will require the deployment of low and zero carbon energy sources on all fronts, and nuclear provides a carbon-free, firm energy source to back up intermittent renewables. With coal demand still growing globally, we need to dramatically reduce fossil fuel consumption for power generation and nuclear should be a part of the mix.
Provinces [in Argentina] are asking the government for a minimum price for crude. Subsidies would mean [foreign] companies stay, hoping that the oil price recovers.
El desplome de la demanda eléctrica a causa de la cuarentena (por Covid-19) impacta con fuerza, cancelando las subastas de renovables - un mecanismo de compra-venta de electricidad entre proveedores y distribuidores.
Hay muchos actores que compran contratos [de futuros de petróleo] para especular, sin intención de quedarse el petróleo. Y entre ellos se ha disparado la preocupación por que no pudieran deshacerse de ellos.
In the Caribbean region, where some countries use diesel or heavy fuel oil for power generation, drops in fossil fuel prices have historically tended to reduce the sense of urgency to adopt cleaner sources of energy. I would be concerned, especially in those countries, that there would be less of an impetus to switch to renewables.
Una prolongación de la guerra de precios [del petróleo] afectaría [a Brasil] igual que al resto de la región.
This is what you will see with all national oil companies and the majors -- they have to cut back on their costs. Brazil won’t shut down its producing projects, but this will impact exploration and it will impact future production.
The drop [in oil prices] is a consequence of a rift between OPEC+'s two biggest producers, Russia and Saudi Arabia, pushing prices below the break-even point of promising basins such as Brazil's pre-salt and Argentina's Vaca Muerta.
The whole idea of energy sovereignty and energy security, the idea that things should be done in Mexico, is more ideological than economically rational.
In terms of a rock bottom, there are potential scenarios in which Venezuelan oil production goes all the way down to zero.
The energy transition has to involve electrification of transport and zero-carbon sources of electricity. It is the only way to address climate change.
With Pdvsa in crisis mode, they are increasingly handing operational responsibilities and decisions over to the partners.
