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MercoPress, en Español

Montevideo, May 31st 2025 - 05:07 UTC

Energy & Oil

  • Friday, May 30th 2025 - 10:24 UTC

    Unloading of fuel for Bolivia begins amid favorable weather

    We are using Arica and another port in Chile, in addition to one in Peru, Gallardo explained

    The unloading of fuels began in three Pacific Ocean ports, with an estimated 100 million liters of gasoline and diesel expected to arrive in Bolivia by the weekend. The operation involves ports in Chile and Peru due to weather conditions, Hydrocarbons Minister Alejandro Gallardo explained. The measure seeks to address Bolivia's ongoing nationwide fuel shortage.

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  • Thursday, May 29th 2025 - 10:11 UTC

    Trump tells UK to get rid of unsightly windmills and open North Sea to modern drilling

    “The U.K. is making a very big mistake. Open up the North Sea. Get rid of Windmills!” President-elect Trump posted in early January on Truth Social

    President Donald Trump on Truth Social has strongly criticized UK’s energy policy of pursuing renewables and further taxing North Sea oil and gas operators. In a piece published in OilPrice he suggests getting rid of “costly and unsightly windmills”.

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  • Thursday, May 29th 2025 - 09:46 UTC

    YPFB adds new Chilean port to boost fuel imports

    Gallardo blamed the Legislative Assembly's blocking of foreign credit for the shortage

    Bolivia’s state oil company, Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), began importing diesel and gasoline through the Chilean port of Mejillones to address a months-long fuel crisis. This new route complements the port of Arica and diversifies imports from four countries, ensuring 100% of market demand is met with 70 million liters of fuel.

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  • Monday, May 12th 2025 - 20:37 UTC

    Lula announces sizeable Chinese investments in infrastructure

    Lula made those remarks at a Sino-Brazilian Business Forum in Beijing

    Brazilian President Luiz Inácio Lula da Silva announced Monday that Chinese investors would be allocating some R$ 27 billion (US$ 4.69 billion at the current exchange rate) to infrastructure and other development in the South American country. He made those remarks during his participation in the Brazil-China Business Forum in Beijing. The investments will also cover the areas of education and technology, it was explained.

  • Monday, May 12th 2025 - 10:04 UTC

    Petrobras strikes high-quality oil in Santos Basin Pre-Salt Aram block

    The exploratory well in the Aram block, is located 248 kilometers off the Santos coast, at a water depth of 1,952 meters

    Petrobras has announced a new oil discovery in the pre-salt Santos Basin, identifying “high-quality oil without contaminants” at the 3-BRSA-1396D-SPS exploratory well in the Aram block, located 248 kilometers off the coast of Santos, at a water depth of 1,952 meters

  • Friday, May 9th 2025 - 14:51 UTC

    Venezuela seeks support from Russia and China amid economic crisis

    Venezuela’s economic crisis is worsening, with inflation expected to reach nearly 200% in 2025

    Venezuela is turning to its geopolitical allies, Russia and China, to counter a deepening economic crisis, as the South American nation faces dwindling oil revenues, runaway inflation, and a severe currency devaluation.

  • Thursday, May 8th 2025 - 08:34 UTC

    Former Paraguayan President welcomes Milei's Yacyretá tariff adjustment

    Duarte Frutos highlighted that these funds were crucial to finance works, hospitals, university scholarships, and social programs

    Former Paraguayan President and Yacyretá Binational Entity (EBY) Director Nicanor Duarte Frutos said Argentine President Javier Milei's decree adjusting the energy tariff from US$ 17 to US$ 28 per megawatt-hour (MWh) was the right thing to do and insisted that the measure did not violate any treaty. It rather establishes an effective charge for energy consumption to be paid by his country's National Electricity Administration (ANDE) and the Wholesale Electricity Market Administration Company (CAMMESA).

  • Wednesday, May 7th 2025 - 10:55 UTC

    Milei adjusts Yacyretá tariff ahead of new operating agreement

    Milei adjusted the price of Yacyretá electricity to US$ 28 per megawatt hour (MWh) from the previous US$ 17

    Argentine President Javier Milei signed Decree No. 303/2025, authorizing a new Operating Agreement for the Yacyretá Hydroelectric Power Plant, a binational entity co-owned by Argentina and Paraguay. The agreement sets a tariff increase from US$17 to US$28 per megawatt-hour (MWh) to optimize supply, ensure financial stability, and support technological modernization

  • Monday, May 5th 2025 - 10:51 UTC

    Massive gold reserve found in Argentine province of Salta

    They were originally looking for copper

    A massive gold reserve exceeding 11 million ounces was discovered in the Argentine province of Salta, at the Lindero project, 260 km from the territory's capital. Initially targeted for copper, the site revealed a deposit with 84 million tons of material at 0.6 grams per ton, making it one of South America’s most significant finds. The project, leveraging existing infrastructure, is driving economic growth through job creation, construction, and logistics.

  • Monday, April 28th 2025 - 14:49 UTC

    Mass power outage hits large parts of Europe

    Spanish and Portuguese authorities are holding emergency meetings to solve the crisis.

    A massive power outage struck the Iberian Peninsula (Spain and Portugal) and has also affected Spain, Portugal, and some regions in France, Italy, and the UK, disrupting critical infrastructure including public transport, airports, telecommunications, and traffic systems.

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