Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, May 20th 2025 - 03:18 UTC

Energy & Oil

  • Monday, February 5th 2018 - 09:08 UTC

    Can The Shale Boom Avoid These Bottlenecks?

    The rig count in the Permian has surged and jumped by 18 in the most recent week for which data is available, to 427, the highest total for the basin since early 2015.

    By Nick Cunningham of Oilprice.com <br />
    <br />
    Shale companies continue to drill at a frenzied pace, adding rigs and breaking U.S. oil production levels with each passing week. Yet, the oil production is becoming increasingly geographically concentrated. Not only is the Permian basin accounting for much of the new oil production in the U.S., but a relatively small number of counties within the Permian are home to most of that action.

  • Monday, February 5th 2018 - 05:16 UTC

    Falklands' oil industry expected to receive an FPSO by 2022

    Brazil leads the South American market with 24 planned and announced FPSOs, followed by Guyana and the Falkland Islands with one FPSO each.(Pic M Sitek)

    A total of 55 planned and announced floating production, storage, and offloading units (FPSOs) are expected to begin operations by 2022 worldwide, according to a report by GlobalData. In the South American list Brazil figures with 24 FPSOs, plus the Falkland Islands and Guyana with one each.

  • Sunday, February 4th 2018 - 02:02 UTC

    What does the Premier Environmental Impact Statement say about the Sealion Oil Field Development to the North of the Falkland Islands

    As Mercopress reported, Premier Oil are currently consulting on the Environmental Impact Statement (EIS) for their Sealion Oil Field development sitting 220km to the North of the Falkland Islands in 450 metres of water depth. The formal minimum 42 day consultation period began earlier in the week and only after the Falkland Islands Government agreed via its Executive Council that it could do so.

  • Friday, February 2nd 2018 - 09:52 UTC

    Why Is The Shale Industry Still Not Profitable?

    The average return on asset for U.S. shale companies “is still a measly 0.8%,” the financial services company wrote in its report.

    By Nick Cunningham of Oilprice.com

    Echoing the criticism of too much hype surrounding U.S. shale from the Saudi oil minister, a new report finds that shale drilling is still largely not profitable. Not only that, but costs are on the rise and drillers are pursuing “irrational production.”

  • Wednesday, January 31st 2018 - 19:51 UTC

    Falklands holds consultation on Premier Oil environmental impact statement

    The offshore Sea Lion oilfield, located in the North Falklands Basin approximately 120 miles to the north of the Falkland Islands.

    An Environmental Impact Statement (EIS) has been submitted to the Falkland Islands Government by Premier Oil Exploration and Production Limited. The EIS covers the proposed development activity for Phase 1 of the offshore Sea Lion oilfield, located in the North Falklands Basin approximately 120 miles to the north of the Falkland Islands.

  • Tuesday, January 30th 2018 - 10:00 UTC

    Petrobras to join the Oil and Gas Climate Initiative

    The OGCI is the CEO-led grouping of oil and gas companies that intends to lead the industry’s response to climate change

    The Oil and Gas Climate Initiative (OGCI) and Petrobras announced that the Brazilian company will join the initiative. This commitment is subject to the approval of the OGCI Climate Investments Members’ Agreement by the Petrobras board of directors.

  • Monday, January 29th 2018 - 11:11 UTC

    Punta Arenas moves into alternative energy and plans wind farm to supply 6.000 homes

    With the first stage of the Cabo Negro wind farm, the 2% alternative energy contribution can be expected to increase to 18% of local consumption

    Magallanes Region in the extreme south of Chile is taking advantage of its weather conditions and will convert its wind gusts into energy. With some six million dollars from the National Fund for Regional Development and in coordination with Chilean government owned oil company Enap, a wind farm will be installed in Cabo Negro during the second half of the year.

  • Thursday, January 25th 2018 - 09:42 UTC

    Enap Sipetrol acquires offshore block at the Austral basin, Santa Cruz province

    Enap Sipetrol has been operating in the Austral Basin for 26 years and recently was awarded the on shore El Turbio Este block, to the east of Santa Cruz province.

    Chile's Enap Sipetrol has acquired an offshore block, Octans Pegaso, on the Argentine continental shelf off the coast of Patagonia province of Santa Cruz. The block covers 886 square kilometers and is 20kms off Santa Cruz coast at its closest point to land. It was purchased from the consortium made up of Total Austral (35%), Wintershall (35%) and ENI (30%).

  • Friday, January 19th 2018 - 09:39 UTC

    EU lifts anti-dumpling duties imposed on Argentine bio-diesel, as indicated by WTO

    Argentina and Indonesia called the measures protectionist and challenged them at WTO and EU courts. Argentina broadly won its case at the WTO

    European Union ambassadors agreed on Thursday to withdraw an appeal to the European Court of Justice meaning the bloc will have to accept its verdict annulling anti-dumping duties imposed on imports of biodiesel from Argentina and Indonesia.

  • Thursday, January 18th 2018 - 09:36 UTC

    Brazil willing to admit US ethanol, if US opens market to fresh beef exports

    Maggi implied that a decision on removing the ethanol import tariff could depend on resolving the dispute on beef exports.

    Brazil is studying the removal of a 20% tariff on ethanol imports from the United States, Agriculture Minister Blairo Maggi said on Wednesday, in a decision that could depend on Washington lifting a ban on fresh beef exports from Brazil. Last year, Brazil imposed a 20% tax on ethanol imported from the U.S. that exceeds a 600 million liter annual quota to protect local producers as imports spiked.