News with the tag "Petro"

One of the largest and most profitable oil companies in Brazil, Petrobras, is launching a new R&D project focused on blockchain and bitcoin mining. This bold project focuses on using blockchain technology throughout Petrobras’ operations. The goal is to improve efficiency and reduce carbon impact. T...

Brazil’s state-owned oil giant Petrobras is reportedly venturing into Bitcoin mining and tokenization as part of its upcoming research and development (R&D) initiatives . This announcement comes via Matthew Sigel , director of digital asset research at VanEck , who shared the news on X (formerly Twi...

The Republic of Cuba has reportedly asked Russia if it can join the BRICS alliance, the coalition that’s competing against the US dollar hegemony. In a post on the social media platform X, Cuban ambassador and foreign minisiter Carlos M. Pereira says the country officially asked Russian president Vl...

The BRICS alliance is reportedly considering a new “petroyuan” in its latest move to compete with the world dollar hegemony. BRICS, which was originally launched as a coalition of Brazil, Russia, India, China and South Africa, has since welcomed several other countries into its union and is looking ...

BRICS nations are considering adopting the petroyuan for oil trade as part of their ongoing dedollarization efforts, according to economic expert Herbert Poenisch. He noted the BRICS group may discuss alternatives to the petrodollar at their Kazan summit. He highlighted Saudi Arabia’s potential shif...

India and Russia are discussing ways to enhance bilateral trade by adopting payments in their national currencies and reducing non-tariff barriers. The talks aim to facilitate rupee-ruble trade and address trade imbalances, particularly as petroleum dominates current transactions. With a significant...

The term “petrodollar” refers to the practice of pricing and trading oil in U.S. dollars. This system began in the early 1970s when the U.S. made an agreement with Saudi Arabia to price all of its oil sales in U.S. dollars. In return, the U.S. provided military and economic support to Saudi Arabia. ...

Nigerian authorities tend to use the latest technologies, namely artificial intelligence (AI) and machine learning (ML), in the struggle against the widespread problem of oil pipeline leakages and theft. The Ministry of Petroleum Resources was at the forefront in bringing together the various stakeh...

Tecpetrol, an Argentina-based oil and gas company, has reported the benefits of including crypto mining operations in its oil explorative activities. According to Tecpetrol CEO Ricardo Markous, including on-site vented gas generators to mine cryptocurrency has allowed oil production to rise fivefold...

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Argentine President Javier Milei warns about the dangers of collectivism at Davos, the Venezuelan petro is still alive, and Colombia works to regulate crypto. Javier...