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MercoPress, en Español

Montevideo, December 15th 2025 - 08:41 UTC

Energy & Oil

  • Wednesday, March 7th 2018 - 09:45 UTC

    Exxon-Mobil hits oil jackpot offshore Guyana: future production of 500.000 bpd

    Pacora will be developed together with giant Payara field, and with other phases, will help bring Guyana production to more than 500,000 barrels per day

    United States-based oil giant ExxonMobil says the latest oil discovery in Guyana will help bring production to more than 500,000 barrels per day. In a statement, the oil company said that it was satisfied with the discovery in the Pacora Well that was safely drilled to a depth of 18,363 feet in 6,781 feet of water. It said drilling began on January 29 this year.

  • Wednesday, March 7th 2018 - 09:40 UTC

    Venezuela oil production 1.5 million bpd short of its historic output

    Venezuela’s oil production fell 13% in 2017 to a 28-year low of about 2.072 million bpd., an estimated 1.5 million bpd short

    Venezuela’s oil production is running 1.5 million barrels per day (bpd) short of its historic output but it is something that the country must address itself, Ecuador oil minister Carlos Perez said. Caracas should address the shortfall on its own, added Perez on the sidelines of the CERAWeek energy conference in Houston.

  • Wednesday, March 7th 2018 - 09:36 UTC

    US shale oil output surge set to influence world market in next five years

    Non-OPEC production is set to rise 5.2 million bpd by 2023 to 63.3 million bpd. Shale oil production will account for over half of the world's output growth

    United States shale oil output is set to surge over the next five years as drillers recover rapidly from a three-year slump, the International Energy Agency said, sharply upgrading its previous growth forecasts. A landmark deal in 2017 between OPEC and other oil producers including Russia to curb output in order to battle a global glut materially improved the outlook for other producers as oil prices rose sharply throughout the year, the IEA said.

  • Wednesday, March 7th 2018 - 09:30 UTC

    YPF plans shale oil and gas production to increase 35% during 2018

    Gonzalez said YPF plans to drill 100 wells in 12 different areas of Vaca Muerta, after costs for horizontal wells fell to US$1,390 per lateral foot in the fourth quarter

    Argentina’s state-owned oil company YPF SA expects shale oil and gas production to grow 35% in 2018, as costs in the Vaca Muerta shale play continue to fall, Chief Financial Officer Daniel Gonzalez said. Still, declining production in mature fields means overall hydrocarbon output will fall 2 to 3% in 2018 after a 5.3% reduction in 2017, Chairman Miguel Gutierrez said.

  • Monday, March 5th 2018 - 09:19 UTC

    YPF recovers from 2016 and posts full year profit of US$ 627m for 2017

    Fourth-quarter profit rose to 12 billion pesos compared with 1.8 billion pesos in the year-earlier quarter and 246 million pesos in the 2017 third quarter, the company said.

    Argentina’s state-owned oil company YPF SA posted a full-year 2017 profit of 12.7 billion pesos (US$ 627.16 million), the company said, rebounding from a 28.4 billion-peso loss in 2016.

  • Monday, March 5th 2018 - 08:25 UTC

    Beware: OPEC and US shale industry scheduled to meet and share dinner in Houston

    OPEC Secretary General Mohammad Barkindo and other OPEC officials are expected to hold a dinner on Monday with U.S. shale firms on the sidelines of the conference.

    Oil prices rose early on Monday ahead of a meeting between OPEC and U.S. shale firms in Houston, raising expectations that oil producers would discuss further how to clear a global oil glut. Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) and other global oil players are set to gather in Houston as CERAWeek, the largest energy industry conference, begins on Monday.

  • Sunday, March 4th 2018 - 15:58 UTC

    Oil Market Fears: War, Default And Nuclear Weapons

    Verisk Maplecroft surveyed a long list of countries, and produced its Government Stability Index (GSI), which uses some predictive data and analysts forecasts to take stock of geopolitical risk in var

    The U.S. is one of the few areas of the world in which there is an energy investment boom underway, a development that could smooth out the uncertainties of geopolitical events around the world. At the same time, outside of the U.S., there is a deterioration of stability in many oil-producing regions, aggravating risks for both oil companies and the oil market, according to a new report.

  • Thursday, March 1st 2018 - 09:53 UTC

    UK car industry “thousands of jobs” at risk if UK fails to reach a Brexit deal

    A BEIS Committee report said the UK car industry was largely export-led with Europe as the primary market. Success was built on “complex supply chains”

    Failing to strike a Brexit deal would put “hundreds of thousands” of jobs in the car industry at risk, MPs have said. The Business, Energy and Industrial Strategy Committee said continued close alignment with the EU would ensure the industry's survival. And it warned the introduction of trade barriers would leave the sector unable to compete with its European rivals.

  • Wednesday, February 28th 2018 - 10:00 UTC

    Brazilian presidential hopeful would support privatization of Petrobras

    Once a taboo issue in Brazilian politics because of national sovereignty concerns, the privatization of Petrobras is set to become a campaign issue this year

    The governor of Sao Paulo and likely centrist presidential candidate Geraldo Alckmin said that he would privatize Brazil's state-run oil company Petrobras if he wins the elections in October.

  • Wednesday, February 28th 2018 - 09:20 UTC

    Pemex loss of US$ 18bn in fourth quarter; blames weaker Peso and declining oil fields

    Pemex lost 151 billion pesos during the fourth quarter due to a weaker peso, the company said, which depreciated 8% against the U.S. dollar.

    Mexican state-owned oil company Pemex reported a nearly US$18 billion fourth-quarter loss on Monday after both crude output and processing slid, though the company said refining levels should rebound as major maintenance plans are completed. The company posted a 352.3bn (US$17.9bn) peso loss for the last quarter of 2017, blaming a weaker peso exchange rate and higher financing costs for its performance, according to a filing with the Mexican stock exchange.