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MercoPress, en Español

Montevideo, June 9th 2025 - 14:08 UTC

Energy & Oil

  • Monday, May 30th 2016 - 06:49 UTC

    Petrobras faces “tens of billions of dollars” in claims in US court; trial opens in September

    “We are seeking multiple tens of billions of dollars,” says lead counsel Jeremy Lieberman of Pomerantz, New York law firm leading the charge against Petrobras.

    Petrobras will finally get its day in a U.S. court on Sept. 19 in a trial that pits 18 former executives and 13 investment banks, including J.P. Morgan Securities, against U.S. and U.K. investors. Claimants are seeking “tens of billions of dollars” in losses from the Brazilian oil and gas giant.

  • Thursday, May 26th 2016 - 06:53 UTC

    Rousseff claims Temer intends to “privatize” Brazil's pre-salt oil reserves

    The pre-salt region is estimated to hold tens of billions of barrels of crude equivalent, at 7.000 meters depths offshore Brazil's southeastern coast.

    Brazil's suspended president, Dilma Rousseff, on Wednesday accused interim head of state Michel Temer of intending to “privatize” the oil discovered in recent years in deep waters of the Atlantic Ocean and thus deprive the nation's education sector of funding.

  • Thursday, May 26th 2016 - 06:05 UTC

    Argentina confident Patagonia's shale formation foreign interest remains strong

    “Vaca Muerta will continue to be for YPF and, for the country, a very good option to regain the energy sovereignty,” minister Aranguren said

    Argentina's Vaca Muerta shale formation in Patagonia remains an attractive asset for international investors, many of which are looking to increase the amount they have invested so far, according to the country's Energy Minister Juan José Aranguren, a former Shell Argentina CEO.

  • Wednesday, May 25th 2016 - 08:35 UTC

    Argentine government agrees a 400% cap on natural gas hikes for Patagonia provinces

    “We decided that no Patagonian resident will pay hikes above 400%” Interior Minister Rogelio Frigerio said.

    The Argentine government has announced a cap on hikes to natural gas prices for the country’s southernmost provinces, after pushback from governors, the Judiciary and even local demonstrators prompted Energy Minister Juan Jose Aranguren to reconsider the scope of his most recent reforms.

  • Wednesday, May 25th 2016 - 07:02 UTC

    UK tremor: North Yorkshire approve fracking operations

    The vote triggered a fierce response from environmentalists who see fracking as a threat to local countryside and a deviation from UK climate-change promises.

    The first fracking operation in the UK since 2011 earthquake scares has been approved by North Yorkshire councilors, stirring a fresh debate on the benefits and risks of the controversial gas extraction method. Councilors granted permission to UK firm Third Energy to use hydraulic fracturing, or fracking, at an existing drilling site near the village of Kirby Misperton.

  • Monday, May 23rd 2016 - 11:28 UTC

    What does the next OPEC meeting have in store?

    The new Saudi oil minister, Khalid al-Falih, will attend his OPEC meeting, but experts doubt he will have the same clout as outgoing Ali bin Ibrahim Al-Naimi.

    The next OPEC meeting on the 2nd of June will act as little more than a forum for continued altercations between Saudi Arabia and Iran. The 2 June 2016 OPEC meeting will be held amid a backdrop of oil prices near $50 per barrel, a sharp drop in Nigerian production due to sabotage, turmoil in Venezuela, Saudi Arabia operating with a new oil minister, and Iran aggressively pumping close to pre-sanction levels.

  • Friday, May 20th 2016 - 11:05 UTC

    Petrobras new CEO is a former energy minister and chief of staff

    Parente served in a number of positions under President Cardoso. He was chief of staff from 1999 to 2003 and also minister of planning and of mines and energy.

    Former Brazilian energy minister Pedro Parente has been named by acting President Michel Temer as the new CEO of state-run oil giant Petrobras. Parente was picked Thursday to replace Aldemir Bendine, an appointee of now suspended President Dilma Rousseff. The new Petrobras CEO was working as chairman of Sao Paulo-based financial bourse BM&FBovespa.

  • Thursday, May 19th 2016 - 06:33 UTC

    Falklands' Rockhopper announces double contingent oil reserves: over 300m barrels

    Rockhopper owns more than 50% of two oilfields, Sea Lion and Isobel Elaine, which are now estimated to hold 747 million barrels of oil and gas reserves

    Falkland Islands oil and gas producer Rockhopper Exploration Plc has announced that its net contingent oil reserves have doubled to more than 300 million barrels, and independent experts are now eyeing this as nearly billion-barrel basin.

  • Wednesday, May 18th 2016 - 12:21 UTC

    Petrobras: Temer pledges judicial independence and respect for prosecutors nomination process

    Temer told Globo TV he would maintain the tradition of nominating the candidate chosen by the corps of prosecutors

    Brazil's interim president, Michel Temer said he would continue a tradition of nominating a prosecutor general who comes recommended by peers, allaying concerns about judicial independence. Justice Minister Alexandre de Moraes, sworn in last week as part of Temer's new government, told the Folha de S.Paulo newspaper in an interview that the prosecutor general of Brazil could be selected at will by the president.

  • Tuesday, May 17th 2016 - 06:23 UTC

    Falklands hopeful of improved relations with Argentina, Gilbert House tells BIMR conference

    Cherie Clifford, MLA Dr. Barry Elsby meet CPA Secretary General Akbar Khan at the States of Assembly in the island of Jersey

    Falkland Islands remains hopeful of improved relations with the new administration of Argentina and cooperation in the many areas of mutual interest such as fisheries and connectivity, but sovereignty of the Falklands is not for negotiation, reads the Gilbert House report to the 46th British Isles and Mediterranean Region Conference, which opened on Sunday in Jersey.