Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, February 4th 2026 - 11:53 UTC

Energy & Oil

  • Monday, March 10th 2025 - 10:45 UTC

    Trump's sanctions cut off all comunication lines, Maduro claims

    Maduro takes on Western powers as a common threat to build up unity around him

    Venezuelan President Nicolás Maduro criticized US President Donald Trump's decision to revoke Chevron's license to operate in the South American country, claiming it disrupted communication channels and hindered the repatriation of irregular migrants.

  • Friday, March 7th 2025 - 10:50 UTC

    Maduro says Chevron's departure will not hit Venezuela's oil production

    “We will go forward, we will recover, we will grow, we will produce, and they will not touch the lives of the Venezuelan people,” Maduro claimed

    Venezuelan President Nicolás Maduro insisted Thursday that his country’s oil production would drop “not even a liter” despite the U.S. ending Chevron’s license to export crude. Speaking on his weekly TV show, he pledged output would grow under his “Absolute Productive Independence” plan, despite US President Donald Trump's sanctions.

  • Thursday, March 6th 2025 - 10:58 UTC

    CABA: Electricity supply restored gradually but “complicated” days ahead

    Temperatures are expected to rise Thursday and Friday, so electricity consumption will not go down

    Although the electricity supply resumed gradually in the Buenos Aires Metropolitan Area (AMBA) starting at around 3 pm, “complicatted” days lie ahead given the scorching heat that boosts demand to operate air conditioning equipment. By Wednesday afternoon, service began to be restored to 70% of households, but some 196,000 users were estimated to still be without power after two massive blackouts.

  • Wednesday, March 5th 2025 - 20:11 UTC

    Buenos Aires under second mass blackout in a day

    Even the Casa Rosada was hit by the power outage

    A second massive blackout hit the Autonomous City of Buenos Aires (CABA) and parts of the so-called Buenos Aires Metropolitan Area (AMBA) Wednesday after a first outage at 5:50 am affected some 550,000 Edesur users in the neighborhoods of Balvanera, Barracas, Boedo, Caballito, La Boca, Monserrat, Parque Patricios, Recoleta, Retiro, and San Nicolás as well as in the municipalities of Avellaneda, Berazategui, Lanús, Lomas de Zamora, and Quilmes, bordering the country's capital. Edelap, the energy distribution company of La Plata, was also affected.

  • Sunday, March 2nd 2025 - 10:46 UTC

    Falklands, new energy vision should reach 100% renewable by 2045

    The strategic direction that will enhance life in the Falkland Islands by replacing aging and polluting energy infrastructure with modern facilities

    A new vision for how the Falkland Islands will achieve its energy ambitions has been approved by Executive Council. The new Energy Strategy and Implementation Plan outline the path for the Falkland Islands to reach 100% renewable energy provision by 2045.

  • Saturday, March 1st 2025 - 21:19 UTC

    Falklands’ oil company convenes shareholders for fundraising initiative

    The company, which holds a 100% interest in three Production Licenses in the South Falkland Basin, has made significant progress in its exploration efforts

    Borders & Southern Petroleum plc (AIM: BOR), the oil and gas company focused on the Falkland Islands, announced the upcoming General Meeting to seek shareholder approval for its fundraising initiative. The meeting is scheduled for March 21, 2025, at the offices of Wedlake Bell LLP in London.

  • Thursday, February 27th 2025 - 13:20 UTC

    Deaths and robbery reported during Chile's blackout

    Troops were deployed during the power cut to enforce the curfew

    As Chile's electricity supply gradually went back to normal Wednesday, one death and an armed robbery were reported following Tuesday's 10-hour blackout resulting in a nationwide curfew.

  • Thursday, February 27th 2025 - 10:34 UTC

    Trump ends Biden's oil concessions to Venezuela

    Electoral conditions within Venezuela have not been fulfilled, Trump argued

    US President Donald Trump has revoked the oil concessions granted to Venezuela by his predecessor, Joseph Biden, due to non-compliance with electoral conditions and lack of cooperation in the process of deporting “violent criminals,” it was announced in Washington DC. This decision impacts Chevron's operations in Venezuela, which were authorized by Biden in 2022.

  • Thursday, February 27th 2025 - 10:29 UTC

    Petrobras' 2024 profits below those attained the year before

    The exchange rate variation impacted negatively on the company's performance

    Brazil's State-owned oil company Petrobras activities yielded R$36.6 billion (US$7.5 billion) in profits last year, according to a report released Wednesday in Brasilia. However, these figures are below 2023's performance, when the company recorded a net profit of R$124.6 billion (US$24.9 billion), the exchange rate variation in debts between Petrobras and its subsidiaries abroad playing a key role in these results.

  • Wednesday, February 26th 2025 - 10:59 UTC

    Nationwide curfew decreed in Chile amid mass blackout

    It was Chile's worst blackout since 2010

    About 98% of Chile's population was left Tuesday without electricity, prompting President Gabriel Boric Font to decree a curfew between 10 pm to 6 am Wednesday with 3,000 troops deployed nationwide. The outage began at 3.16 pm after a failure in an ISA InterChile transmission line between Vallenar and Coquimbo, causing a chain reaction that disconnected key parts of the national grid. Boric said the incident was “intolerable,” and vowed to hold the subsidiary of Colombia’s ISA accountable.