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MercoPress, en Español

Montevideo, May 21st 2025 - 02:16 UTC

Energy & Oil

  • Monday, November 14th 2016 - 07:54 UTC

    Petrobras cleans balance sheet and posts unexpected third quarter loss

    Despite losses, operational and cash flow trends improved, said Chief Financial Officer Ivan Monteiro said.

    Brazilian state-controlled oil company Petrobras posted an unexpected third-quarter loss after drastically reducing the value of oil fields and other assets amid a severe downsizing and weak oil prices. Petrobras lost a net 16.458 billion reais (US$4.9 billion) last quarter, five times more than a year earlier. Despite that, operational and cash flow trends improved and, without an impairment, profit could have totaled 600 million Reais, Chief Financial Officer Ivan Monteiro said.

  • Monday, November 14th 2016 - 07:45 UTC

    Falklands' government first quarter surplus jumps to £6.407 million

    The bulk of companies paying significant corporation tax for 2015 were in the fishing industry (Pic N.Bonner)

    The Falkland Islands government numbers are looking brighter than forecasted: for the first three months of the financial year (July –September), the government is showing an actual surplus of £6.407 million, compared to a estimated surplus of £2.211 million.

  • Saturday, November 12th 2016 - 21:27 UTC

    Congress opens Brazil's huge “pre-salt” oil fields to the private sector

    Huge amounts of oil could be lying under the pre-salt fields, but high costs of equipment and human capital are necessary to get extraction started

    Petrobras will begin selling off huge “pre-salt” oil fields to raise cash for the desperate Brazilian national oil company, according to new legislation passed by Congress. Politicians in the lower house had fought against the bill, but lawmakers succeeded in pushing the bill through during a late-night session, and the vote stood at 251-22 by the end of the night.

  • Friday, November 11th 2016 - 19:28 UTC

    Petrobras signs US$ 1.2bn contract for natural gas exploration in southern Bolivia

    President Evo Morales and Brazil's Mines and energy minister, Fernando Coelho Filho, traveled to Santa Cruz for the signing ceremony.

    Executives of Brazilian state oil company Petrobras and Bolivian counterpart YPFB signed this week a contract for a US$1.2 billion natural-gas exploration venture in southern Bolivia. Bolivian President Evo Morales and Brazil's minister of mines and energy, Fernando Coelho Filho, traveled to Bolivia's eastern city of Santa Cruz for the signing ceremony.

  • Thursday, November 10th 2016 - 11:35 UTC

    Brazil lowers fuel prices: diesel down 10.4% and gasoline, 3.1% at the refinery

    The aim is to enable Petrobras to implement a competitive pricing policy that reflects movements in the international oil market in shorter periods.

    In line with the pricing policy announced by Petrobras on October 14, 2016, the company’s markets and pricing executive committee has decided to reduce the prices of diesel and gasoline sold at its refineries by 10.4% and 3.1%, respectively.The combination of a 12.1% fall in the international prices of oil and oil products between October 14 and now, and the reduction in the company’s domestic market share has impacted the usage level of Petrobras’ assets, especially its refineries, its inventory levels and also its flows of imports and exports

  • Monday, November 7th 2016 - 10:41 UTC

    PDVSA, India reach agreement on joint oil production ventures

    Venezuela and India agree on producing more oil but only for export purposes.

    Venezuela's state-owned oil and natural gas company PDVSA and India have signed accords worth $1.45 billion whereby oil production is expected to increase from 430,000 barrels per day to 855,000 in less than a year. Exports in mind, there is a natiowide shortage of fuel.

  • Thursday, November 3rd 2016 - 07:53 UTC

    OPEC Crude Basket Drops to $44.53

    Drop in crude price announced

    The basket of crude oil used as a benchmark indicator by the Organization of Petroleum Exporting Countries dropped to $44.53, the OPEC Secretariat said on Wednesday in Vienna.

  • Saturday, October 29th 2016 - 10:07 UTC

    South Atlantic deep water seismic survey between YPF and Norway's Statoil

    YPF CEO Ricardo Darre and Statoil Exploration vice president Tim Dodson sign the agreement in Oslo

    Argentina's oil company YPF and Norway's Statoil have signed a cooperation agreement to further gather information on Argentina's offshore potential. The accord was signed in Oslo between YPF CEO Ricardo Darré and Statoil Exploration vice president Tim Dodson.

  • Friday, October 28th 2016 - 12:23 UTC

    Renewable energy overtakes coal in electricity generation capacity; half a million solar panels installed every day

    Renewable energy sources, such as wind, solar and hydro are seen as a key element in international efforts to combat climate change.

    The International Energy Agency said in its latest report that last year the world's capacity to generate electricity from renewable sources has now overtaken coal, and renewable accounted for more than half of the increase in power capacity.

  • Tuesday, October 25th 2016 - 12:20 UTC

    Temer urges Congress to approve bill easing oil industry regulation and Petrobras monopoly

    The proposed regulatory framework would “create new jobs” and “provide a new boost to investment in the sector,” Temer said at the Rio Oil and Gas conference.

    President Michel Temer urged Congress on Monday to approve a bill that would ease oil industry regulation and strip state-controlled oil giant Petrobras of some of its privileges in Brazil's most promising oil fields. The proposed regulatory framework would “create new jobs” and “provide a new boost to investment in the sector,” Temer said in an address at the opening of the Rio Oil and Gas conference.