MercoPress, en Español

Montevideo, March 30th 2017 - 14:28 UTC

Energy & Oil

  • Wednesday, December 21st 2016 - 01:12 UTC

    Falklands' additional air link to South America has a target launch date: October 2017

    (L-R) Argentine Amb Sersale di Cerisano stands next to Sir Alan Duncan, and Deputy minister Pedro Villagra Delgado with UK ambassador in BA, Mark Kent

    Argentina, United Kingdom and Falkland Islands representatives have agreed on a process for an additional air service to the Falklands, from either Brazil or Chile, with a target launch date of October 2017, and likewise will address scientific data exchange in relation to fish stocks in the South Atlantic, particularly regarding the migratory Illex stock.

  • Saturday, December 17th 2016 - 00:24 UTC

    Petrobras sells ethanol assets as it moves out of the biofuels industry

    The Nova Fronteira transaction marks another step in Petrobras' efforts to get out of the biofuels industry, which has soaked up enormous amounts of capital

    Brazil's oil company Petrobras has agreed to sell its 49% stake in the sugar and ethanol joint venture Nova Fronteira Bioenergia SA to partner São Martinho SA, both companies said in securities filings on Thursday. Petrobras will receive 24 million new São Martinho shares as payment for the stake. Petrobras said in the filing that it will attribute a US$133 million value to the deal.

  • Wednesday, December 14th 2016 - 05:10 UTC

    Trump challenges Congress and nominates close friend of Putin, Rex Tillerson Secretary of State

    Rex Tillerson, 64, has no government or diplomatic experience but has done extensive work overseas on behalf of his petroleum company.

    Donald Trump officially announced his plan Tuesday to nominate ExxonMobil CEO Rex Tillerson as secretary of state, a pick that could pose complications in the confirmation process due to Tillerson's ties to Russia. Tillerson, 64, has no government or diplomatic experience but has done extensive work overseas on behalf of his petroleum company.

  • Sunday, December 11th 2016 - 21:13 UTC

    Petrobras ordered to temporarily suspend divestiture program; court wants to review asset sales

    TCU thinks the company should be much more transparent in its divestiture program as it is a state-controlled entity.

    Brazil's federal auditing court (TCU) asked state-controlled oil company Petrobras to temporarily suspend its divestiture program while the court reviews asset sales procedures. The decision could delay Petrobras efforts to raise US$15.1 billion from asset sales by the end of 2016 as a way to reduce its huge debt -- the largest in the global oil industry.

  • Thursday, December 8th 2016 - 19:01 UTC

    Russia sells 19.5% of Rosneft - ‘biggest privatization deal of 2016,’ says Putin

    Rosneft CEO Igor Sechin reached an agreement with private investors and a Qatari fund to sell 19.5% of shares

    Russian President Vladimir Putin labeled the sale of 19.5% of state-owned oil giant Rosneft's shares to the natural resource trader Glencore International and a Qatari sovereign wealth fund for over $11 billion was “the biggest sale and acquisition in the world’s oil and gas sector in 2016,” the official Kremlin website reported Wednesday.

  • Thursday, December 1st 2016 - 15:30 UTC

    Russia ready to do its part as OPEC countries agree on oil output cut

    Russia ready to follow suit after OPEC countries agree to cut down oil production, says minister Alexander Novak

    As the Organization of Petroleum Exporting Countries (OPEC) has reached a deal among all 14 members to cut oil production for the first time since 2008, Russia's Energy Minister Alexander Novak said his country was ready to do its part by reducing 300,000 barrels per day in the first half of 2017, provided OPEC adheres to the level of 32.5 mln barrels daily adjusted for Indonesia and on condition of maximum reciprocity from other non-OPEC countries. Russia is not an OPEC member.

  • Wednesday, November 30th 2016 - 09:31 UTC

    Temer signs bill that opens sub-salt oil deposits to private the sector

    With the new bill Petrobras has signaled its reluctance to take on the operator role for new sub-salt projects, and could end up selling stakes in sub-salt projects

    Brazilian president Michel Temer signed legislation on Tuesday which opens the way for oil companies other than state-controlled Petrobras to operate the coveted sub-salt acreage. The bill repeals a controversial 2010 rule that requires Petrobras to hold a minimum 30% operating stake in assets governed by production-sharing contracts, mainly sub-salt assets.

  • Monday, November 28th 2016 - 09:36 UTC

    Doubts about OPEC's production cut agreement make crude oil prices dive

    Uncertainty over output cutdowns keeps pushing oil prices down

    Oil prices fell over 1 percent Monday in Asia following a decline of more than 3 percent Friday over disagreement between members of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC exporters like Russia. Brent crude futures LCOc1 were trading at $46.40 per barrel at 0035 GMT (7.35 a.m. ET), down 84 cents, or 1.8 percent, from their last close, while U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 74 cents, or 1.6 percent, at $45.32 a barrel.

  • Saturday, November 26th 2016 - 13:44 UTC

    Whole world -even Palestinians- helps Israel fight fires gone beyond control

    Even Palestinians came to help Israel fight the fire in Haifa

    Palestinian firefighters and trucks and firefighting aircraft from Turkey, Greece, Croatia and Russia joined the operation to put down the flames. For four days, Israel has fought in its entire territory dozens of fires that spread thanks to a great drought and strong winds.

  • Saturday, November 26th 2016 - 12:43 UTC

    BP buys into Egypt's super giant Zohr gas field, the largest in the Mediterranean

     The Zohr field was discovered by Eni in August 2015; six wells have so far been successfully drilled on the field located approximately 190kms north of Port Said

    BP announced on Friday that it has agreed to buy from Eni a 10% interest in the Shorouk concession offshore Egypt, which contains the super-giant Zohr gas field, for US$375 million. On closing, BP will also reimburse Eni for BP's share of past expenditure. As part of the agreement, BP also has an option before the end of 2017 to buy a further 5% interest in the concession under the same terms.