Economist Víctor Fuentes expressed concerns regarding Petroperú’s financial woes, as Peru’s state oil company reported losses exceeding $500 million in 2023. Talking to Sputnik, he said terrible management for many years is why the company is failing. He warns that getting back into oil production is risky. The company’s financial report shows big problems. By […]
Related Posts
Brazil reports positive foreign exchange balance in first half of 2023
According to the Central Bank, Brazil has recorded a positive foreign exchange inflow of US$15.05 billion in the first half of 2023, surpassing the figure of US$14.038 billion from the same period in 2022. For the overall year up to June, the financial channel has seen net outflows of US$13.941 billion, primarily due to inflows […]
Mozambique’s 8th Energy Summit Opens
Carlos Zacarias, the Energy Minister, opened the 8th Mozambique Energy and Gas Summit this week. He called it a stage for “finding new opportunities.” The event gathers a mix of stakeholders, from government to business leaders. Its theme is building a sustainable energy network in Mozambique. “Let’s share ideas for a stable system that boosts […]
Paraguay Seeks 24% Hike in Itaipu Dam Fees, Brazil Resists
With a capacity of 14,000 megawatts, the bi-national Itaipú only trails behind China’s Three Gorges and Baihetan dams. The review of Annex C in the Binational Treaty between Brazil and Paraguay, overseeing the billion-dollar resources of the Itaipu hydroelectric plant, is projected to take 2-3 years, according to the Brazilian director general of Itaipu, Enio Verri. […]