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MercoPress, en Español

Montevideo, June 25th 2026 - 05:12 UTC

Energy & Oil

  • Monday, June 15th 2026 - 21:50 UTC

    Brazilian stocks slip as the US-Iran deal sinks oil prices and hits Petrobras

    The shares that lost the most value were those of the private oil firms Prio (-6.9%) and Petroreconcavo (-6.5%), also affected by the fall in crude

    São Paulo's stock exchange closed on Monday down 0.42%, dragged by the plunge of the state oil company Petrobras after the international crude price fell, linked to the preliminary agreement between the United States and Iran. The Ibovespa, the benchmark index of Latin America's main exchange, ended the session at 170,415 points.

  • Thursday, June 11th 2026 - 23:12 UTC

    Venezuela hands Shell a license for the cross-border Loran gas field shared with Trinidad

    Rodríguez described the award as a “historic step,” recalling that the field had remained “without development” for 23 years

    Venezuela on Thursday granted the British company Shell a license for a first phase of exploration and exploitation of the Loran gas field, which has seven reservoirs, six of them transboundary with Trinidad and Tobago. The signing was led by acting President Delcy Rodríguez at Miraflores Palace, the seat of the Venezuelan government.

  • Thursday, June 11th 2026 - 22:34 UTC

    Colombia's government confirms El Niño will be among the most intense since 1950

    In Colombia, El Niño tends to be associated with a decline in rainfall, which raises the risk of drought and energy rationing in a country that relies heavily on hydroelectric generation

    Colombia's Environment Ministry confirmed on Thursday that the El Niño phenomenon arrived about three months earlier than expected and that, if projections hold, it will be one of the “most intense recorded since 1950,” according to data from the Institute of Hydrology, Meteorology and Environmental Studies (Ideam). The agency said the conditions associated with the phenomenon —which warms ocean waters above normal— are already present in the equatorial Pacific.

  • Friday, June 5th 2026 - 07:08 UTC

    Argentina warns it could 'fully exercise all actions' over Falklands oil drilling plans

    The Sea Lion field, north of the archipelago, is operated by Navitas, which holds 65% of the project, while Rockhopper, which discovered it, retains 35%

    Argentina's government warned that it could “fully exercise all” available actions over plans to develop an oil field near the Falkland Islands, in a fresh escalation of the sovereignty dispute. The Foreign Ministry declared the plans of Britain's Rockhopper Exploration “unlawful” and described that company and its Israeli partner, Navitas Petroleum, as “clandestine,” after the Sea Lion project moved from exploration into development.

  • Thursday, June 4th 2026 - 15:28 UTC

    Venezuela moves to open its power sector to private investment after years of blackouts

    The system, which prior to 2007 operated under a mixed and regionalized model, began to deteriorate due to a lack of maintenance and new investment

    Venezuela's National Assembly gave initial approval to a reform of the electricity law that opens the sector to private investment through long-term concessions, in an effort to reverse the collapse of a service battered by blackouts for two decades. The measure ends the monopoly held for more than 15 years by the state-owned National Electric Corporation (Corpoelec), though it still requires a second debate and final ratification in the coming days.

  • Tuesday, June 2nd 2026 - 10:50 UTC

    La Paz endures a month of blockades as food and fuel shortages deepen

    Drivers continue to line up for fuel. Photo: Francisco RIVEROS / @APGNoticiasBo

    La Paz has spent a month under blockade. The main roads into Bolivia's administrative capital have been cut for four weeks, and shortages of food and fuel worsen by the day. Frustration is mounting among residents: some demand the resignation of President Rodrigo Paz for failing to keep his campaign promises, while others call for a firm hand and the deployment of the army to lift the siege. Most agree that the president, who took office less than seven months ago, should have acted sooner, when the protests began.

  • Wednesday, May 27th 2026 - 02:00 UTC

    BP sacks its Chair over governance standards and conduct issues

    BP said the board unanimously decided that Manifold should no longer serve as chair or director regarding governance oversight that directors deemed unacceptable.

    Oil and gas media is reporting that oil giant BP has removed Chair Albert Manifold with immediate effect after the board cited serious concerns over governance standards, oversight, and conduct, appointing Ian Tyler as interim chair while it begins a search for a permanent replacement.

  • Thursday, May 21st 2026 - 06:59 UTC

    Falklands’ oil, in June upgrade begins in Asia to adapt Aoka Mizu FPSO to Sea Lion development needs

    Navitas has shifted upgrade work on the Aoka Mizu from the Middle East to Asia due to the conflict in Iran, adding about US$ 45 million to the development budget

    Rockhopper Exploration (AIM:RKH), has highlighted progress at the Sea Lion oil development in the North Falkland Basin, operated by Navitas Petroleum. The first two phases will use the Aoka Mizu FPSO with capacity of 55,000 barrels per day, while a new memorandum of understanding for a second FPSO could lift total capacity by a further 125,000 barrels per day, significantly expanding the project’s production potential if implemented.

  • Wednesday, May 20th 2026 - 23:49 UTC

    Brazilian Public Prosecutor's Office asks not to renew license of country's sole uranium mine

    The uranium extraction unit is located in the municipality of Caetité, in the northeastern state of Bahía

    Brazil's Federal Public Prosecutor's Office on Wednesday recommended that the Brazilian Institute of Environment (Ibama) not renew the environmental license of the country's only uranium mine, in operation since 1999, until the responsible company duly consults the quilombola communities potentially affected by the activity. The recommendation does not amount to a definitive closure of operations, but it does entail a suspension conditional on compliance with the requirement of prior consultation of the populations affected by the project, in line with the national and international norms in force.

  • Monday, May 18th 2026 - 17:41 UTC

    London Stock Exchange rises 1.26% driven by oil and defense sectors

    Oil companies led the day, benefiting from the rebound of Brent crude, which at the close of the European stock market session surpassed USD 111 per barrel with an advance of close to 1.70%

    The London Stock Exchange closed on Monday with a gain of 1.26%, driven by the advance of oil and defense companies, in a session marked by the rise of crude oil amid the lack of progress in negotiations between the United States and Iran to end the war. The main index, the FTSE 100, added 128.38 points to close at 10,323.75, while the secondary FTSE 250 advanced 0.07% to 22,611.70 points.

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