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MercoPress, en Español

Montevideo, December 16th 2025 - 01:35 UTC

Energy & Oil

  • Friday, February 24th 2017 - 15:51 UTC

    Falklands and Brexit, subjects raised by visiting MPs to the Islands

    MP's Wes Streeting, KarinSmyth, Alan Mak and AmandaMilling at the press conference

    The impact of Brexit on the Falkland Islands and the economy in general were subjects raised with visiting Members of Parliament this week. The delegation of four made a flying visit to the Falkland Islands last weekend accompanied by FI Representative in London Sukey Cameron.

  • Tuesday, February 21st 2017 - 10:58 UTC

    Petrobras exporting record volumes from sub-salt offshore oil fields

    Brazil’s sub-salt production rose to 1.26 million barrels per day (bpd) in December, equivalent to 46% of the country’s total output – up from 34% a year earlier.

    Rising output from Brazil’s sub-salt offshore oil fields is allowing Petrobras to export record volumes of oil and import less light crude for its refineries, a senior executive said. Cláudio Mastella, executive manager for refining and natural gas logistics, said the move is helping to reduce Petrobras’ operational and logistical costs because lighter oil is easier and cheaper to refine into products like gasoline and diesel.

  • Tuesday, February 14th 2017 - 12:17 UTC

    Petrobras credit rating raised to BB-: improved governance “compares well with those of its peers”

    The rating change does not lift Petrobras out of the non-investment grade category, but it lowers the risk from “highly speculative” to “speculative.”

    Credit rating agency Standard & Poor’s on Friday raised its corporate credit rating on Petrobras, one notch, from B+ to BB-. The rating change does not lift Petrobras out of the non-investment grade category, but it lowers the risk from “highly speculative” to “speculative.”

  • Wednesday, February 8th 2017 - 10:17 UTC

    Falklands' oil exploration: Rockhopper announces investments in Sea Lion

    Rockhopper confirms that a settlement has been reached between the operators and Ocean Rig in relation to the termination of Eirik Raude rig

    Rockhopper Exploration plc has provided its latest operational and corporate update which includes the North Falkland Basin Sea Lion project and has announced that the technical engineering is approaching conclusion and a settlement on the Eirik Raude rig dispute has been reached.

  • Tuesday, January 31st 2017 - 23:19 UTC

    Argentina declares 2017 Renewable Energy Year; 20% electricity share by 2025

    The government has set a target to increase the share of renewable energy to 20% in the energy mix by 2025.

    Argentina has declared 2017 as the ‘Renewable Energy Year’ as the country looks to increase awareness about the advantages of renewable energy and the important of sustainability. A decree issued by the government calls for energy diversification through the use of renewable energy sources in the electricity generation as well as thermal energy sector.

  • Wednesday, January 25th 2017 - 08:15 UTC

    Falklands attending Trinidad and Tobago annual energy conference

    British High Commissioner Tim Stew, MLA Ian Hansen and Trinidad and Tobago's president Anthony Carmona

    The Falkland Islands government is attending the Annual Trinidad and Tobago Energy Conference from January 23rd – 25th, 2017 at the Hyatt Regency, Port-of-Spain. The Trinidad and Tobago Energy Conference is the premier Energy Conference in the Caribbean and promotes vigorous debate and discussion among leaders of industry, Government and academia.

  • Friday, January 13th 2017 - 11:19 UTC

    Petrobras pre-salt oil production set a new record in 2016

    Total production of the company in the country reached 2.63 million barrels of oil equivalent per day, 1% above 2015’s results, which also set a new record

    Petrobras’ average oil production in Brazil in 2016 went up 0.75% in comparison to the previous year and reached 2,144,256 barrels per day. According to the company, the result was in line with the established target of 2.145 million and represents an annual all-time high.

  • Wednesday, January 11th 2017 - 08:29 UTC

    Macri announces program to boost development of Vaca Muerta shale formation

    YPF, BP-controlled Pan American Energy, France's Total, Shell, Chevron and US Dow, pledged to invest a combined US$5bn this year in Vaca Muerta

    Argentina's government has agreed to extend a natural gas wellhead price subsidy until 2020 and reduce labor costs in a bid to jumpstart investment in the Vaca Muerta shale formation. The agreement, reached between the national government, the provincial government of Neuquen, industry and labor unions, comes at a time of lackluster upstream activity, reflecting an uncertain price environment and cost concerns.

  • Saturday, January 7th 2017 - 07:14 UTC

    Uruguayan bureaucrats good at cooking inflation numbers

    “UTE Prize”, a good instrument used every December, since 2012, to ensure annual inflation remains at a single digit

    Last December, the CPI actually contracted 0.55%, something similar to what happened twelve months before helped by a significant decrease in the power rate, estimated at 19.65% and which benefitted over a million clients. The logo of the end of the year bonus campaign is “Ute Prize” (UTE is the Uruguayan power company which works under a government monopoly regime).

  • Friday, December 30th 2016 - 17:49 UTC

    Petrobras sale of assets still US$ 1.5bn short of 2015/16 divestment target

    Last week Petrobras announced it would sell US$2.2 billion worth of assets to France's Total SA, including stakes in oilfields and two thermal power stations

    Brazil's oil and gas corporation Petrobras announced this week the sale of ethanol and petrochemicals assets for US$587 million, but said it would still fall US$1.5 billion short of its divestment target for the 2015-2016 period.