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MercoPress, en Español

Montevideo, October 31st 2026 - 16:45 UTC

Energy & Oil

  • Friday, October 30th 2026 - 01:00 UTC

    Shell and TotalEnergies double profits on a refining boom

    France’s TotalEnergies posted adjusted net income of US$9.1 billion, against US$4 billion a year earlier and above the US$8.3 billion forecast

    European oil majors Shell and TotalEnergies doubled their profits in the third quarter of 2026 and posted their best quarterly results since 2022, driven by refining margins almost four times higher than a year earlier amid tensions in the Middle East, according to results published on Thursday. Both expanded their share buyback programmes.

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  • Thursday, October 29th 2026 - 14:49 UTC

    Falklands unveil 2026-2030 Islands Plan, with a sovereign wealth fund for energy revenues

    Under the first priority, the Plan aims to create the conditions for the economy to grow and diversify “while also ensuring effective regulation of industries”

    The Falkland Islands Legislative Assembly on Thursday published the Islands Plan 2026-2030, the programme of government for the current Assembly, which provides for a sovereign wealth fund so that energy sector revenues benefit future generations and acknowledges that the government faces some of the largest projects in its history, with a capital programme of more than £300 million. Executive Council formally adopted the Plan on October 27.

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  • Wednesday, October 28th 2026 - 15:10 UTC

    Falklands approves bill on oil pollution emergencies in relation to offshore installations, and responsibilities

    The Director of Mineral Resources will be the competent authority – “Falkland Islands contingency plan” and “offshore installations” used in the OPRC Regulations.

    The Falkland Islands Executive Council has approved a set of Regulations 2026 to amend the Maritime (Oil Pollution Preparedness, Response and Co-operation Convention) Regulations 2019 (“the OPRC Regulations”) to make provision for the preparation and maintenance of oil pollution emergency plans in relation to offshore installations and to require the persons responsible for offshore installations to report oil incidents where oil is discharged into the sea.

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  • Wednesday, October 28th 2026 - 03:30 UTC

    Latin America’s energy inflation reaches its highest level in a year

    The study, based on data from the statistics institutes and central banks of member countries, shows energy inflation exceeded the previous high for the period, 8.03% in June

    Annual energy inflation in Latin America and the Caribbean accelerated to 8.33% in August, its highest level in twelve months, and pressure on fuel prices continued in September and October, when diesel prices matched petrol for the first time, according to a report by the Latin American Energy Organization (OLADE) published by the Energy Report website.

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  • Thursday, October 22nd 2026 - 13:35 UTC

    Milei hopes to exploit the Falklands’ oil dispute in next year’s election

    By Vicky Kapogianni Associate Professor of International and Environmental Law, University of Reading - Argentina is trying to stop a planned oil project near the Falkland Islands. On October 13, the government asked the International Tribunal for the Law of the Seas (Itlos), a court in Hamburg that deals with disputes over the sea, to halt the project. Argentina says the UK approved the drilling without its agreement and in breach of Argentina’s rights to the seabed.

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  • Thursday, October 22nd 2026 - 02:24 UTC

    A partial win in Hamburg could help Milei in 2027, an analysis suggests

    The tribunal will hold its hearing on November 10 and 11

    Argentina has slim chances of persuading the International Tribunal for the Law of the Sea to halt the Sea Lion oil project north of the Falklands by invoking its sovereign rights, but it could secure a partial victory on environmental grounds that would help President Javier Milei ahead of the 2027 election, according to an analysis by an international law academic published on The Conversation.

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  • Wednesday, October 21st 2026 - 01:46 UTC

    Argentina and the UK to face off in Hamburg on November 10 over Falklands oil

    Argentina submitted its request on October 13, pending the constitution of the arbitral tribunal under Annex VII of the United Nations Convention on the Law of the Sea

    The International Tribunal for the Law of the Sea will hold hearings on November 10 and 11 on Argentina’s request for an order requiring the United Kingdom to halt the Sea Lion oil project north of the Falklands. The dates were set by the tribunal’s president, Judge Maurice K. Kamga, in an order dated October 20.

  • Tuesday, October 20th 2026 - 09:52 UTC

    Argentina awaits the Supreme Court after the YPF case is closed at first instance

    Preska’s judgment, which exceeded US$18 billion with interest, was the largest ever imposed on a state by a US court

    New York federal judge Loretta Preska has vacated her 2023 judgment ordering Argentina to pay more than US$16 billion over the expropriation of oil company YPF and formally closed the case at first instance. Its future now depends on whether the US Supreme Court agrees to review it, as litigation funder Burford Capital requested in early October.

  • Saturday, October 17th 2026 - 06:17 UTC

    Brent touches US$110 for the first time since May on Middle East tensions

    Attacks around Hormuz have intensified over the past ten days, with Iran saying it is responding to the US blockade of its ports and tougher sanctions imposed last month

    Brent crude reached US$110 a barrel on Friday for the first time since May, driven by fears that escalation in the Middle East could further tighten supplies and by doubts over how much diesel Russia can supply to the market. Brent settled 3.7% higher at US$109.86, its highest since May 19, while US benchmark WTI rose 3.5% to US$101.41.

  • Thursday, October 15th 2026 - 20:59 UTC

    Argentina’s bill toughening sanctions over Sea Lion stalls in Congress

    The bill, sent to Congress in September, has 133 articles. The first 40 repeal the 2011 law penalising hydrocarbon exploration not authorised by Argentina and create a broader regime with fines

    The National Sovereignty Defence bill, with which Javier Milei’s government seeks to toughen sanctions against those involved in exploiting resources in the Falklands, failed to secure committee approval in the Chamber of Deputies and will not reach the special session planned for October 21, according to the Argentine press. The opposition is demanding that the text, which besides sanctions reforms security, defence and intelligence, be split.

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