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Peru declares environmental emergency on coastal area hit by oil spill

Peru declared an environmental emergency Saturday to battle an oil spill caused by freak waves from a volcanic eruption in the South Pacific. The stunningly...

Costa Rica & Denmark want to end exploration of fossil fuels: report

Costa Rica and Denmark hope to create an alliance of countries willing to set a date to phase out oil and gas production.

Activists push Costa Rica to ban oil and gas exploitation forever

Personalities from the entertainment world and international diplomats pressured the Legislative Assembly to pass a law that would permanently ban the exploitation of fossil fuels in Costa Rica.

Costa Rica cancels $1.2 billion Chinese refinery project

RECOPE President Sara Salazar told reporters that the Chinese-Costa Rican joint-venture cost the Costa Rican government ₡33 billion — more than $61 million — with nothing to show for the effort.

Venezuela’s oil-based economy is about to flatline. Then what?

As Venezuelan president Nicolás Maduro prepares to give the annual State of the Nation address, the country is facing one of the world's most painful, and predictable, economic collapses.

World Bank court orders Ecuador to pay $1.8 billion to US oil firm Oxy

QUITO, Ecuador -- A World Bank arbitration panel has ordered Ecuador to pay $1.8 billion, plus interest, to U.S. oil firm Occidental Petroleum for cancelling a contract. Occidental sued...

Venezuela’s Maduro secures another $5 billion loan from China for oil sector

"We have signed a special program for a $5 billion loan to progressively increase oil production in the coming months," Nicolás Maduro said on state television Tuesday night in a broadcast from China, where he is on a visit seeking support for Venezuela's sinking economy.

Ravaged by oil’s collapse, Venezuela now has a big gold problem

Venezuela had 68 percent of its international reserves in bullion as of August, according to the World Gold Council. That's a big worry because the price of the precious metal has tumbled 15 percent from this year's high in January as the global slump in commodities deepened.

Four dead, 16 injured in fiery blast at Mexico oil rig

MEXICO CITY – An explosion and a fire erupted on an offshore oil platform operated by Mexico's Pemex on Wednesday, killing at least four workers, injuring 16 and forcing 300 to be evacuated.

Obama orders deeper Venezuela sanctions over abuses

Obama ordered the freezing of U.S. properties and bank accounts of seven officials, including the director general of the intelligence service and the director of the national police.

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