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MercoPress, en Español

Montevideo, December 15th 2025 - 05:25 UTC

Energy & Oil

  • Monday, December 1st 2025 - 10:52 UTC

    Uruguay okays deepwater explorations to seek oil

    The measure further shook Uruguay's energy endeavors and its commitment to climate goals and marine conservation

    The Uruguayan Government of President Yamandú Orsi has greenlighted the so-called seismic exploration for oil in the country's territorial waters to the companies APA, PGS, CGG, and Searcher. The decision spurred controversies among environmentalist groups.

  • Tuesday, November 18th 2025 - 20:21 UTC

    Brazil: New oil reserves found in Campos Basin

    Samples of the findings will be lab tested for further accuracy regarding their quality, Petrobras explained in a statement

    Brazil's state-run oil company Petrobras announced this week the discovery of an oil reservoir in the Campos Basin, off the coast of Rio de Janeiro. As per initial assessments, the oil found is of “excellent quality.”

  • Friday, November 14th 2025 - 10:36 UTC

    Yacyretá: Construction resumes at Aña Cuá arm

    Costs have increased sharply after the original estimates in 2019

    Paraguay and Argentina officially restarted construction Thursday on the Aña Cuá arm of the Yacyretá-Apipe hydroelectric dam, ending a two-year paralysis caused by financial disputes.

  • Thursday, November 13th 2025 - 20:42 UTC

    Trump pardons Lewis in insider trading case

    The 88-year-old entrepreneur has various businesses in Argentine Patagonia

    British billionaire Joe Lewis, who has significant business interests in Argentine Patagonia and other parts of South America, has been granted an official pardon by US President Donald Trump, it was confirmed Thursday. The measure came after Lewis, 88, pleaded guilty last year in New York to insider trading charges. He was subsequently sentenced to pay a US$5 million fine and serve three years of probation.

  • Tuesday, November 11th 2025 - 08:43 UTC

    Chinese competition authorities greenlight joint lithium venture in Chile

    “This is a very important achievement,” Chile's Mining Minister said

    China's State Administration for Market Regulation (SAMR) approved the partnership between Chile's state-owned copper company Codelco and private miner SQM to develop lithium resources in the Salar de Atacama, prompting Chile's Mining Minister Aurora Williams to hail the decision as “good news.”

  • Saturday, November 8th 2025 - 10:00 UTC

    Dorgathen resigns as YPFB chief as Bolivia's fuel crisis deepens

    Dorgathen’s departure is linked to a scandal involving him and Marcelo Arce, the son of incumbent President Luis Arce

    Armin Dorgathen Tapia has submitted his irrevocable resignation as Executive President of Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), the state-owned oil company, effective Friday. His departure comes amidst growing controversy surrounding the Botrading case and just hours before the inauguration of President-elect Rodrigo Paz.

  • Wednesday, October 29th 2025 - 11:29 UTC

    Petrobras' output reaches 3.14 million barrels a day in 3Q of 2025

    FPSOs accounted largely for these new results

    Brazil’s state-run oil company Petrobras achieved an average production of oil, natural gas liquids, and natural gas of 3.14 million barrels of oil equivalent per day in the third quarter of 2025, or 7.6% more than in the second quarter of this year and 16.9% higher than in the third quarter of 2024.

  • Tuesday, October 28th 2025 - 09:19 UTC

    Bolivia: Private fuel import bill signed into law to tackle shortages

    Arce agreed to block private initiatives but warned of a sharp price increase

    Bolivian President Luis Arce Catacora enacted the so-called “Short Law” on Monday to tackle fuel shortages and guarantee the supply of diesel and gasoline. The legislation, which originated with the Pro Santa Cruz Committee and was passed by the Legislative Assembly last week, offers an alternative solution to the recurring fuel scarcity.

  • Tuesday, October 21st 2025 - 10:02 UTC

    Amazon: Petrobras cleared to start drilling on Equatorial Margin

    In recent years, the Equatorial Margin has garnered significant attention following oil discoveries in nearby nations

    Brazil's state-owned oil company, Petrobras, has received a license from the Brazilian Institute of the Environment and Renewable Natural Resources (Ibama) to begin exploratory oil drilling on the Equatorial Margin of the Amazon, an area with high hydrocarbon potential, it was announced on Monday.

  • Tuesday, October 21st 2025 - 08:26 UTC

    Oil heading below US$ 50 per barrel anticipates Energy Agency

    IEA in its latest report anticipates that because of soaring “supply and subdued demand”, oil oversupply will be larger than expected, both in 2025 and 2026.

    When oil prices in the international market are sliding faster than expected, already in the range of US$ 50 the barrel, the International Energy Agency, IEA in its latest report anticipated that because of soaring “supply and subdued demand”, oil oversupply will be larger than expected, both in 2025 and 2026. IEA warns that while demand growth is down, supply growth will lead to a record supply overhang, since oil stocks are already soaring, mainly that stockpiled in tankers in water.