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MercoPress, en Español

Montevideo, December 17th 2025 - 05:38 UTC

Energy & Oil

  • Wednesday, November 8th 2017 - 05:06 UTC

    Mexico strikes its biggest onshore oil discovery in 15 years; production should begin in 2019

    Peña Nieto, who pushed through Congress a sweeping energy reform in 2013 that ended Pemex’ monopoly, made the announcement at the company’s Tula refinery.

    Mexico’s national oil company Pemex has made its biggest onshore oil discovery in 15 years with a find in the eastern state of Veracruz, President Enrique Peña Nieto announced. Pemex made the discovery by drilling its onshore Ixachi well, near the municipality of Cosamaloapan and the overall field is believed to hold some 350 million barrels of proven, probable and possible reserves.

  • Tuesday, October 31st 2017 - 08:30 UTC

    Brazil: the return of deepwater oil

    Royal Dutch Shell won half of the blocks that were offered, and Shell was already one of Brazil’s largest foreign investors.

    By Nick Cunningham of Oilprice.com - On a historic auction for deepwater oil assets in Brazil, the oil majors showed up on October 27 and bought several offshore blocks, indicating a high level of interest in the country after a major policy overhaul allowed private investment.

  • Thursday, October 26th 2017 - 06:49 UTC

    YPF unveils ambitious US$ 30bn five-year investment plan

    YPF plans to invest US$21.5 billion in the country from 2018 to 2022 and increase oil production by 26%, the company said in a statement on Wednesday.

    Argentina's state-controlled energy company YPF has unveiled a US$ 30bn five-year investment plan to boost oil production and sharpen its focus on electric power generation. Some US$21.5bn will come from YPF's own coffers, with the remainder to be sourced from its project partners, the company said in a statement on Wednesday.

  • Saturday, October 21st 2017 - 07:30 UTC

    Uruguay government announces presence of hydrocarbons in an exploratory well

    Energy, Industry and Mining minister Carolina Cosse said that “there is much work ahead, the announcement is very important, but let's act prudently”.

    The Uruguayan government announced on Friday the presence of hydrocarbons in the north west of the country, in the framework of exploratory drilling by US based Schuepbach Energy. The discovery took place in the county of Paysandu, some 400kms north of the capital Montevideo.

  • Friday, October 20th 2017 - 05:18 UTC

    Some thoughts about the 9 November Falklands' general election

    Despite Argentine government assertions to the contrary, long gone are the old colonial days when the Governor could nominate members of council

    By John Fowler - At the time of going to press, so far sixteen brave or foolhardy souls have declared their candidature for the General Election. This is one more than in 2013 and may be the most ever. With an average age of less than fifty years this group is almost certainly the youngest. Gone, it would seem, are the days when only the wealthy, retired, unemployed, or possibly unemployable old were available to stand.

  • Wednesday, October 18th 2017 - 07:16 UTC

    The “Amazon Effect” is coming to oil markets

    Cottonwood Venture Mark P. Mills believes we are on the verge of an oil industry major transformation identical to that Amazon prompted in retail.

    By Irina Slav for Oilprice.com - While OPEC mulls over further steps to once again support falling oil prices, tech startups are quietly ushering in a new era in oil and gas: the era of the digital oil field. Much talk has revolved around how software can completely transform the energy industry, but until recently, it was just talk.

  • Tuesday, October 17th 2017 - 12:16 UTC

    Federal audit freezes Rousseff and Gabrielli assets over losses in refinery purchase

    Ex president Rousseff was chief of staff for President Lula da Silva at the time of the refinery purchase and chaired the Petrobras board of directors.

    Brazil's federal audit court ordered a freeze of former President Dilma Rousseff's assets as well as those of José Sérgio Gabrielli, ex-head of state-run oil company Petrobras, over a US$580 million loss in the 2006 purchase of a Texas refinery.

  • Tuesday, October 10th 2017 - 16:37 UTC

    China's Sinopec considering selling assets in Santa Cruz, Argentina

    The 2010 acquisition marked Sinopec’s entry into Argentina when Chinese companies were looking to buy assets abroad to offset domestic production declines

    Argentina’s losses on its oil and gas assets, as well as its labor disputes, have prompted China’s Sinopec to consider selling its operations in the country. Sinopec advisors have offered up some of its assets to about a dozen large firms from the U.S., Latin America, Europe, Africa, and Russia, it was reported on Monday and confirmed in Beijing media.

  • Sunday, October 8th 2017 - 08:31 UTC

    Argentina preparing to auction offshore hydrocarbons exploration next year

    “There is a high probability that the subsalt basin that exists on the coast of Brazil continues south”, Minister Juan Jose Aranguren said in Buenos Aires.

    Argentina plans to auction offshore oil and gas exploration rights next year, in the hope of developing fields off its Atlantic coast like those in neighboring Brazil, the energy minister said on Thursday.

  • Sunday, October 8th 2017 - 07:52 UTC

    Guyana en route to become a top oil producer in Latin America

    Turbot-1 was drilled to 5,622 m in 1,802 m of water on Sept. 29, 2017. It is located in the southeastern portion of the 26,800-sq km Stabroek block

    Exxon Mobil Corp. has discovered more oil on the Staborek block offshore Guyana, northeast South America, with the Turbot-1 well. ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Turbot-1 well on Aug. 14, 2017, and encountered a reservoir of 23 m of high-quality, oil-bearing sandstone in the primary objective.