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MercoPress, en Español

Montevideo, October 25th 2025 - 19:26 UTC

Energy & Oil

  • Monday, March 27th 2017 - 11:07 UTC

    Petrobras posted losses of US$ 4.8 billion during 2016

    Petrobras has been at the center of a corruption scandal that has ensnared powerful lawmakers and business executives.

    Brazil's state-run oil company says it posted a US$4.8 billion loss in 2016 mainly because of a reduction in the value of assets it needs to sell to lower a debt estimated at more than US$100 billion.

  • Saturday, March 25th 2017 - 09:29 UTC

    Argentina closer to energy self sufficiency: US$ 2.3bn investment in Vaca Muerta shale fields

    Tecpetrol will aim to produce an average 14 million cubic meters of shale gas per day by 2019, which is half the volume of gas Argentina currently imports

    Argentina's Tecpetrol, part of the Techint Group, said on Thursday it would invest US$2.3 billion in the Vaca Muerta shale fields through 2019, the largest announcement in the formation in years. Tecpetrol said in a statement the investment was made possibly due to measures from President Mauricio Macri's government, including a deal with labor unions earlier this year and a definition of price supports this month.

  • Friday, March 24th 2017 - 11:02 UTC

    Maduro desperately selling assets to pay US$ 3.7bn in debts

    The Venezuelan president Nicolás Maduro is reportedly so desperate to pay the US$ 3.7 billion in debts that he is selling off the assets to Russia.

    In an effort to handle its overdue debts, Venezuela is all but giving away oil assets. President Nicolás Maduro is reportedly so desperate to pay the US$ 3.7 billion in debts that he is selling off the assets to Russia.

  • Friday, March 24th 2017 - 10:54 UTC

    Venezuela paralyzed because of gasoline shortage: supplies rushed in from Houston

    Venezuelans have spent hours in lines, as they await a product that has been in short supply for several days in different cities across the country

    Although Venezuela has 18 refineries throughout the world and six on its own soil, on Thursday most states face a shortage of gasoline that has led to long lines at gas stations around the country. Venezuelans have spent hours in such lines, as they await a product that has been in short supply for several days in different cities across the country.

  • Wednesday, March 22nd 2017 - 12:01 UTC

    Guyana beats exploration/production record: oil extraction expected to begin 2019

    Exxon-Mobil in 2016 announced the successful drilling of a deepwater exploration well, positioning Guyana's seafloor as one of the richest oil discoveries in decades.

    United States oil giant Exxon Mobil Corporation is moving full steam ahead with plans to transform Guyana, in the north of South America, into a major oil producer. In what industry experts call a rare occurrence in the industry, Exxon Mobil has asked the David Granger administration for a production license to start pumping oil from the country’s seabed, less than five years after it discovered major oil finds.

  • Tuesday, March 21st 2017 - 10:02 UTC

    Ushuaia closes down as main gas pipeline suffers accidental rupture

    Governor Bertone and the head of the local tourism office Luis Castelli appealed to Buenos Aires for help

    Ushuaia in Tierra del Fuego was forced on Monday to close down government offices, suspend classes and impose a blackout rotation program following a serious leak from the natural gas pipeline which is the main source of power for the Argentine extreme south province capital.

  • Tuesday, March 14th 2017 - 21:28 UTC

    Is a second OPEC cut on the Cards?

    U.S. shale has been capping the upside: Brent has not breached US$58 per barrel. Analysts are now mostly predicting oil prices will remain below US$60 this year.

    OPEC's coordinated effort to curtail global supply has so far managed to put a floor under oil prices, which have been sitting modestly above US$50 since the deal was announced at the end of November last year. But resurging U.S. shale has been capping the upside, and Brent has not breached US$58 per barrel. Analysts and experts are now mostly predicting that oil prices will remain below US$60 this year.

  • Tuesday, March 14th 2017 - 06:26 UTC

    Falklands denies any commitment to reduce oil royalty has been entered

    Luxton said “FIG does not intend to embark on negotiating fiscal policy through the media” and confirmed no commitment to reduce royalty had been entered

    The Falkland Islands government announced on Monday that it is currently in discussion with Premier Oil on a wide range of issues with the objective of progressing the Sea Lion development towards a successful project sanction.

  • Monday, March 13th 2017 - 18:34 UTC

    Repsol announces largest onshore oil discovery in the US in three decades

    Repsol has been actively exploring in Alaska since 2008 and finally hit a big one. The find came after drilling two wells with its partner, Armstrong Oil & Gas.

    Spanish oil firm Repsol SA has announced the largest onshore oil discovery in the U.S. in three decades, a 1.2 billion barrel find on Alaska’s North Slope. Repsol has been actively exploring in Alaska since 2008 and finally hit a big one. The find came after drilling two wells with its partner, Armstrong Oil & Gas.

  • Thursday, March 9th 2017 - 13:55 UTC

    Temer launches 55 infrastructure projects to boost private investment and create 200.000 jobs

    “We are leaving behind a deep recession and entering in a phase of prosperity where private investment will be decisive,” said the president

    Brazil's President Michel Temer launched an infrastructure concessions program on Tuesday that he said should raise 45 billion Reais (US$14.43 billion) in investment in building and operating roads, port terminals, railways and power transmission lines. Temer said the program was key to restoring an attractive business environment as Brazil struggles to emerge from its worst-ever recession.