MercoPress, en Español

Montevideo, April 23rd 2018 - 09:46 UTC

Energy & Oil

  • Monday, March 5th 2018 - 09:19 UTC

    YPF recovers from 2016 and posts full year profit of US$ 627m for 2017

    Fourth-quarter profit rose to 12 billion pesos compared with 1.8 billion pesos in the year-earlier quarter and 246 million pesos in the 2017 third quarter, the company said.

    Argentina’s state-owned oil company YPF SA posted a full-year 2017 profit of 12.7 billion pesos (US$ 627.16 million), the company said, rebounding from a 28.4 billion-peso loss in 2016.

  • Monday, March 5th 2018 - 08:25 UTC

    Beware: OPEC and US shale industry scheduled to meet and share dinner in Houston

    OPEC Secretary General Mohammad Barkindo and other OPEC officials are expected to hold a dinner on Monday with U.S. shale firms on the sidelines of the conference.

    Oil prices rose early on Monday ahead of a meeting between OPEC and U.S. shale firms in Houston, raising expectations that oil producers would discuss further how to clear a global oil glut. Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) and other global oil players are set to gather in Houston as CERAWeek, the largest energy industry conference, begins on Monday.

  • Sunday, March 4th 2018 - 15:58 UTC

    Oil Market Fears: War, Default And Nuclear Weapons

    Verisk Maplecroft surveyed a long list of countries, and produced its Government Stability Index (GSI), which uses some predictive data and analysts forecasts to take stock of geopolitical risk in var

    The U.S. is one of the few areas of the world in which there is an energy investment boom underway, a development that could smooth out the uncertainties of geopolitical events around the world. At the same time, outside of the U.S., there is a deterioration of stability in many oil-producing regions, aggravating risks for both oil companies and the oil market, according to a new report.

  • Thursday, March 1st 2018 - 09:53 UTC

    UK car industry “thousands of jobs” at risk if UK fails to reach a Brexit deal

    A BEIS Committee report said the UK car industry was largely export-led with Europe as the primary market. Success was built on “complex supply chains”

    Failing to strike a Brexit deal would put “hundreds of thousands” of jobs in the car industry at risk, MPs have said. The Business, Energy and Industrial Strategy Committee said continued close alignment with the EU would ensure the industry's survival. And it warned the introduction of trade barriers would leave the sector unable to compete with its European rivals.

  • Wednesday, February 28th 2018 - 10:00 UTC

    Brazilian presidential hopeful would support privatization of Petrobras

    Once a taboo issue in Brazilian politics because of national sovereignty concerns, the privatization of Petrobras is set to become a campaign issue this year

    The governor of Sao Paulo and likely centrist presidential candidate Geraldo Alckmin said that he would privatize Brazil's state-run oil company Petrobras if he wins the elections in October.

  • Wednesday, February 28th 2018 - 09:20 UTC

    Pemex loss of US$ 18bn in fourth quarter; blames weaker Peso and declining oil fields

    Pemex lost 151 billion pesos during the fourth quarter due to a weaker peso, the company said, which depreciated 8% against the U.S. dollar.

    Mexican state-owned oil company Pemex reported a nearly US$18 billion fourth-quarter loss on Monday after both crude output and processing slid, though the company said refining levels should rebound as major maintenance plans are completed. The company posted a 352.3bn (US$17.9bn) peso loss for the last quarter of 2017, blaming a weaker peso exchange rate and higher financing costs for its performance, according to a filing with the Mexican stock exchange.

  • Sunday, February 25th 2018 - 13:48 UTC

    Why The Next Oil Boom Will Be Fueled By Blockchain

    It's official: Blockchain technology has infiltrated Big Oil.

    Big Oil is due for a disruption.

  • Saturday, February 24th 2018 - 09:38 UTC

    Falklands issues public consultation for the oil industry

    FIG and MLA Roger Spink feel this is the right time to consult with Industry on oil taxation given the potential development opportunities in North Falklands Basin

    The Falkland Islands Government, FIG, has issued a public consultation document covering the taxation regime for oil companies operating in the Falkland Islands and their associated supply chain partners. This consultation will be open until Friday 6 April 2018 for responses from interested parties, which will be summarized and fed into final policy and legislative design later during 2018.

  • Friday, February 23rd 2018 - 09:05 UTC

    US adds more import duties on biodiesel from Argentina

    The latest duties make it virtually certain that biodiesel from Argentina will not be sold in the U.S. market, with combined rates of up to 159% on the fuel

    The U.S. Commerce Department piled on more import duties on biodiesel from Argentina and Indonesia, adding anti-dumping duties of 60.44% to 276.65% to already steep anti-subsidy duties on the fuels.

  • Wednesday, February 21st 2018 - 01:26 UTC

    Petro, the Venezuelan cryptocurrency is online

    The initiative promoted by the government of Nicolás Maduro responds to individual sanctions by the international community against government officials.

    The pre-sale of Petro began early on Tuesday, the cryptocurrency proposed by the Venezuelan government in recent weeks and backed by the country's natural resources. According to experts, it is “ridiculous”, arguing that the creation of a new currency would aggravate the economic crisis in the Caribbean country.