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MercoPress, en Español

Montevideo, April 19th 2025 - 13:47 UTC

Energy & Oil

  • Monday, June 15th 2015 - 04:53 UTC

    UK High Commissioner dismisses Venezuela's (oily) claim on Guyana's maritime front

    “UK is clear that the Venezuela-Guyana land border is, and should be, as agreed under the 1899 Arbitration Agreement”, said Commissioner Quinn

    British High Commissioner to Guyana, James Gregory Quinn has dismissed Venezuela’s most recent claim on Guyana’s oil rich Essequibo Coast, stating that it lacks solid grounds. Venezuela’s President Nicholas Maduro on May 27 signed a decree that now claims an entire portion of Guyana’s territory into the Atlantic Ocean and includes the Stabroek Block where a significant portion of oil was recently discovered by US oil giant, ExxonMobil.

  • Friday, June 12th 2015 - 06:14 UTC

    Guyana turning to United Nations to address Venezuela's territorial ambition

    Besides the UN, Greenidge said Guyana has been in contact with members of the international community, as well as Caribbean and Commonwealth states

    Guyana is turning to the United Nations to reach a legal settlement in its border dispute with Venezuela, describing Caracas’ claim of a portion of maritime space where oil was recently discovered as “a baseless and shameless attempt” at usurping Guyana’s territory.

  • Monday, June 8th 2015 - 08:32 UTC

    YPF strikes shale gas in Vaca Muerta; initial production 43.000 m3day

    The find, in the Patagonian province of Neuquen, suggests there is likely much more gas in the vast but barely tapped Vaca Muerta field, YPF said.

    Argentina's government managed energy company YPF said on Sunday that it turned up a new promising shale gas deposit in its giant Vaca Muerta field in the south of the country.The find, in the Patagonian province of Neuquen, suggests there is likely much more gas in the vast but barely tapped Vaca Muerta field, YPF said.

  • Saturday, June 6th 2015 - 09:46 UTC

    Falklands oil companies planning to continue drilling into next year

    “I can't go to Argentina and nearby countries. But operationally, this has no effect,” Tim Bushell, Falkland Oil and Gas chief executive, said.

    Falkland Oil and Gas plans to continue drilling into next year, its chief executive said, defying legal threats made by the Argentine government against oil explorers in the Falkland Islands.

  • Saturday, June 6th 2015 - 09:39 UTC

    Environmental groups lobbying to derail Shell drilling for oil in the Arctic

    The Sierra Club and nine other groups sought to overturn the US decision in a petition with the San Francisco 9th U.S. Circuit Court of Appeals this week.

    Environmental groups and organizations are lobbying to derail Royal Dutch Shell PLC's plan to drill in the Arctic Ocean as soon as July. The Bureau of Ocean Energy Management, an agency within the U.S. Department of the Interior, gave conditional approval in May to Shell's resumption of fossil fuel exploration in the Arctic, which was paused after a mishap-filled 2012 season.

  • Saturday, June 6th 2015 - 08:11 UTC

    OPEC holds production at 30 million bpd; markets react with volatility

    West Texas Intermediate, or light sweet crude, was similarly indecisive, falling before recovering to about $58.9 a barrel, up 1.4%. Oil prices had fallen 5% over the previous two sessions. Investors

    Crude oil prices were volatile after ministers from the Opec cartel decided to hold production levels at 30 million barrels per day. Brent crude traded in a narrow range around $62 a barrel, before ending the day up 1.8% at $63.15.

  • Friday, June 5th 2015 - 09:23 UTC

    The evolution of the oil weapon

    After the 1973 embargo, Nixon approached Saudi Arabia with a proposed deal to ensure that a repeat of such an embargo would never happen to the US

    In the age of derivatives, swaps, and electronic money transfers, a new form of warfare has emerged: financial warfare. Recently, the US has passed sanctions on countries such as Syria, Venezuela and North Korea, but the majority of energy related sanctions passed have been targeted at Iran and Russia.

  • Wednesday, June 3rd 2015 - 09:24 UTC

    Falklands advances despite Argentine disruption and blockade efforts, says Acting Governor Sandra Tyler-Haywood

    “These are exciting times for the Falkland Islands. The past year has seen significant developments in many areas”, said Acting Governor Sandra Tyler Haywood

    Falkland Islands' Her Honour the Acting Governor delivered on Tuesday his State of the Nation speech to the elected Legislative Assembly underlining progress and expansion achieved in the economy and community development, the UK resolute in defending the rights and wishes of the Falkland Islanders to develop their own natural resources, and despite Argentine disruption and blockade efforts, first oil is expected to be produced in 2019.

  • Monday, June 1st 2015 - 07:47 UTC

    Petrobras denies sale of distribution network for much needed investment cash

    BR is Brazil's largest distributor and marketer of petroleum derivatives and bio-fuels, with a 30% market share and a network of 7,900 service stations

    Brazilian state-controlled oil company Petrobras said that the 13.7bn dollars divestment program it unveiled two months ago does not include plans to sell a stake in its service station network.

  • Friday, May 29th 2015 - 09:44 UTC

    Falkland Islands welcomes 'oil discovery' at the Isobel Deep exploration

    ”The (Isobel Deep) result potentially opens up a new development area some 30 kilometers to the south of the Sea Lion field” said Stephen Luxton.

    The Falkland Islands Government welcomed Thursday's announcement by Premier Oil and partners that the 14/20-1 ‘Isobel Deep’ exploration well has been declared an “oil discovery”. Isobel Deep in the North Falkland basin, is the second well of a six-well offshore campaign planned to take place in the Islands waters through 2015.