Urgent.News

What's breaking now, across thousands of outlets.

Editions

More in Business

Panama Canal to reduce shipping over drought

The Panama Canal will reduce shipping volumes from next month because of a drought fueled by the El Niño phenomenon, the operator of the waterway linking the Atlantic and Pacific oceans said on…

  • Panama Canal to cut shipping volumes starting Sep 3
  • Vessels allowed daily to decrease from 36 to 32
  • El Niño drought affecting Central America

Brazil’s New Oil Frontier Could Keep Its Boom Alive For Decades

Brazilian President Luiz Inácio Lula da Silva has hailed a new offshore oil discovery by Petrobras (NYSE: PBR) near the mouth of the Amazon River as a "passport to the country's future", continuing…

  • Brazil discovers 20-30 billion barrels of oil at Morpho-1 well in Amazon's mouth.
  • President Lula da Silva sees oil as economic boost while pursuing renewable energy.
  • Equatorial Margin's geological profile similar to lucrative Guyana and Suriname fields.

More from Thursday 20 August →