Issue 60🌎

December 13, 2024

LATAM Highlights

Brazil

Banks forecast larger rate hike in Brazil due to inflation concerns (Valor International)

Colombia

Colombia greenlights eight firms for first 3GW offshore wind energy auction (América Economía)

Argentina

Argentina's November inflation hits 2.4%, lowest since 2020 (América Economía)

Venezuela

Venezuela builds infrastructure to boost tourism in fragile ecosystems (Reuters)

Ecuador

Ecuador ends nationwide electricity rationing ahead of holidays (AP)

Chile

Chile drops out of OECD’s Top 10 economic performance ranking (América Economía)

Uruguay

Pluspetrol expands into renewable energy with new acquisition in Uruguay (Pluspetrol)

Global Energy Watch

IEA raises 2025 oil demand forecast, predicts steady but muted growth (WSJ)

Rio Tinto to invest $2.5B as part of new lithium commitment (Financial Times)

BP, Shell reduce electricity ambitions to escape ‘valley of death’ (Financial Times)

Notable Transactions

Clean energy firm Intersect Power raised an $800M round led by TPG Rise Climate

Carlyle and Vitol-backed European energy firm Varo Energy is in talks to buy Preem's Swedish refineries

Oilfield services provider Flowco filed for a US IPO at a ~$2B valuation

Must Read

The Financial Times examines whether Javier Milei has managed to prove his critics wrong as he navigates Argentina's economic challenges. 

Featured Podcast

In this Financial Times podcast, experts explore if big oil can escape the ‘valley of death’ as BP and Shell scale back their power generation push, while Qatar’s wealth fund prepares for a petrodollar windfall.

Data Insight

The Visual Capitalist chart shows the rise of global tariffs on China’s tech sector, reflecting concerns over economic dependence and national security. 

LinkedIn Roundup

• EU-South America Trade Deal After 25 Years. Read more.

• Panama joins Mercosur as an associate state. Find out more here.

• Ecopetrol and Parex sign agreements to boost hydrocarbon exploration in Colombia (América Economía).

Upcoming Events

Jan 21-23: Caribbean Energy Conference. Santo Domingo, Dominican Republic

Feb 20-21: Offshore Latin America Conference 2025. Buenos Aires, Argentina  

March 12: Workshop PSR / CanalEnergia 2025. Rio de Janeiro, Brazil

Meme Corner