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MercoPress, en Español

Montevideo, November 21st 2024 - 14:43 UTC

Energy & Oil

  • Thursday, November 2nd 2023 - 09:14 UTC

    Price of fuel goes up in Argentine to secure supply

    Gasoline must not increase more than it should ahead of the presidential runoff, Massa argued

    Argentina's state-run oil company YPF ordered an average increase of 9.75% in the prices of gasoline and diesel oil at pumps, as the freezing deal between the Economy Ministry and fuel producers came to an end Oct. 31 following a 12.5% adjustment the week after the Aug. 13 Open, Mandatory, and Simultaneous Primary (PASO) elections and their ensuing devaluation of the local currency.

  • Wednesday, November 1st 2023 - 21:23 UTC

    BP third quarter profits lower than expected

    According to the company's report, “while oil production was strong, gas trading had been weak in recent months.”

    British Petroleum posted profits of US$ 3.3bn (£2.7bn) between July and September, lower than predictions of US$ 4bn. Earnings were down from US$ 8.1bn in the same period in 2022 when BP made huge profits following Russia's invasion of Ukraine, which led to oil prices soaring.

  • Wednesday, November 1st 2023 - 09:13 UTC

    Fuel supply in Argentine getting back to normal pending price increase

    “All of a sudden the trucks appeared,” Massa said in an ironical tone

    Fuel supply in Argentina is slowly getting back to normal as an increase in the price at pumps has been admitted onto a negotiating table, it was reported in Buenos Aires. After shortages throughout the weekend, the Government acquiesced to an increase in the price of gasoline.

  • Monday, October 30th 2023 - 09:38 UTC

    Gasoline supply must be normalized, or else... Massa warns

    Argentines must come first, Massa argued

    Argentine Economy Minister and presidential candidate Sergio Massa warned oil companies that unless the fuel shortages are solved by Tuesday, they would not be allowed to ship any exports abroad, it was reported.

  • Saturday, October 28th 2023 - 08:55 UTC

    Argentina to import fuel to ease current shortages

    In the next few days the problem will be solved, said Royón

    Argentine authorities said Friday that more fuel will be imported to guarantee supplies to the pumps as the ongoing crisis is set to drag on for weeks, potentially affecting the Nov. 19 presidential runoff between Economy Minister Sergio Massa and Liberal Congressman Javier Milei, it was reported in Buenos Aires.

  • Friday, October 27th 2023 - 10:16 UTC

    Fuel shortages reported in Argentina

    YPF implemented on Monday an average increase of 3%

    Due to fuel shortages in several parts of Argentina, some pumps were forced to sell only up to a quota per customer while others simply closed their activities on Thursday, it was reported in Buenos Aires.

  • Tuesday, October 24th 2023 - 08:36 UTC

    Big news in oil industry: Chevron takes over Hess Corporation in a US$ 53 billion transaction

    Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share.

    Chevron Corporation (NYSE: CVX) announced on Monday that it has entered into a definitive agreement with Hess Corporation (NYSE: HES) to acquire all of the outstanding shares of Hess in an all-stock transaction valued at US$ 53 billion, or US$ 171 per share based on Chevron’s closing price on October 20, 2023. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The total enterprise value, including debt, of the transaction is US$ 60 billion.

  • Monday, October 23rd 2023 - 07:01 UTC

    Falklands brace for avian flu

    Domestic poultry owners in the Falklands have been advised to follow biosecurity measures

    Agriculture officials in the Falkland Islands have announced that biosecurity measures have been stepped up in anticipation of the imminent arrival of avian influenza, which is likely to come from a sick bird.

  • Tuesday, October 17th 2023 - 10:10 UTC

    Fuel shortages reported in Uruguay and Argentina

    The lack of inputs and fuel is a threat to the stability of Argentine rural producers

    Fuel shortages have been reported on both ends of the River Plate. But while supply is expected to be back to normal before the end of this week in Montevideo, Argentine rural producers are concerned that the lack of diesel might impact their activity shortly.

  • Friday, October 13th 2023 - 06:20 UTC

    Environmentally concerned Chile unveils first green hydrogen-powered bus

    The new vehicle only generates water and heat as the only waste

    Chile's first intercity bus powered by green hydrogen was launched Wednesday. According to those behind the initiative, these units generate water and heat as their only waste, thus eliminating polluting emissions en route to reducing the carbon footprint, the state agency Corporación de Fomento de la Producción (Corfo) and the company Foton, said.