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MercoPress, en Español

Montevideo, June 6th 2025 - 09:26 UTC

Energy & Oil

  • Friday, March 13th 2015 - 13:24 UTC

    Brazil's meats giant JBS plans no further acquisitions; about 80% of debts in dollars

    “Last year we made the decision to be 100 percent hedged. We paid a heavy price at the beginning of the year ... but we had the right strategy,” Batista said.

    Brazilian meats giant JBS SA plans to focus on Australia, U.S. pork operations and its processed foods division under a 2015 strategy focused on “organic expansion” rather than acquisitions, CEO Wesley Batista said on Thursday, and estimated that between 2.5 billion to 3 billion reais (806 million/967 million dollars) in capital investment will be needed this year to support the strategy.

  • Thursday, March 12th 2015 - 11:45 UTC

    Everyone is guessing when it comes to oil prices

    Oil storage is at its highest level in 80 years, and storage at the all-important hub in Cushing, Oklahoma could begin to run out of space this spring.

    Predicting and diagnosing the trajectory of oil prices has become something of a cottage industry in the past year. But along with all of the excess crude flowing from the oil patch, there is also an abundance of market indicators that while important, tend to produce a lot of noise that makes any accurate estimate nearly impossible.

  • Wednesday, March 11th 2015 - 03:02 UTC

    Petrobras whistleblower says Rousseff's party received US$ 200 million from Petrobras contracts

    Pedro Barusco, a former executive at Petrobras' services division, said he had received payments as early as 1997 and in larger amounts starting in 2004

    A former Petrobras executive told a congressional hearing in Brazil on Tuesday that the ruling political party received up to 200 million dollars skimmed from contracts with the state-run oil company, reiterating claims made in plea bargain testimony.

  • Tuesday, March 10th 2015 - 07:05 UTC

    Brazilian lawmakers accused of Petrobras graft fight back

    Farias told Folha de Sao Paulo that while he may have acted improperly, his actions weren’t illegal. The senator admitted taking a US$650,000 donation

    Brazil’s congressional heads denied involvement in the country’s largest graft scandal after being named among dozens of politicians for investigation. Renan Calheiros and Eduardo Cunha, the heads of the Senate and Lower House respectively, and Rio de Janeiro Senator Lindbergh Farias all rejected allegations of graft in the Petrobras kickback scheme dubbed “Carwash.”

  • Saturday, March 7th 2015 - 07:41 UTC

    Petrobras corruption: Supreme Court approves investigation of 54 politicians

    Leaders of the Senate Renan Calheiros and Lower House Eduardo Cunha are in the 54-name list. So is former president Collor and currently a Senator (photo)

    Brazil's Supreme Court late Friday approved an investigation of dozens of top politicians, including a former president and leaders of congress, for alleged connections to what they call the biggest graft scheme ever uncovered in the country which has the largest economy in Latin America.

  • Friday, March 6th 2015 - 22:08 UTC

    Falklands oil drilling campaign takes off with spudding on the Zebedee prospect

    Drilling, coring and logging operations on the Zebedee well are expected to take 30 days. Cost of each well drilled by Eirik Raude rig is estimated in 50m dollars

    Premier Oil spudded its first 2015 Falklands drilling campaign well, 14/15-5, using the Eirik Raude semisubmersible drilling rig on the Zebedee prospect on 6 March. The well, on license PL004b, will test a total of seven stacked fan bodies with varying geological chances of success (GCoS) of 9-52%.

  • Thursday, March 5th 2015 - 13:05 UTC

    Here's what will send oil prices back up again

    Advances in wind and solar power have been significant, but according to EIA, renewables currently account for 11% of the world's energy consumption.

    Oil's rapid decline since August of last year has been dramatic. To listen to some commentators you would also think it is unprecedented and irreversible. Those claiming that oil will continue to fall from here and remain low for evermore, however, are flying in the face of both history and common sense. The question we should be asking ourselves is not if oil prices will recover, but when they will.

  • Wednesday, March 4th 2015 - 05:38 UTC

    Petrobras corruption: top prosecutor hands the Supreme Court names of 54 politicians

    Janot's office did not release names of the politicians. Under Brazilian law, politicians and cabinet members can only be tried by the Supreme Court

    Brazil's top prosecutor Rodrigo Janot asked the Supreme Court on Tuesday to open an investigation into 54 politicians who allegedly benefited from a multibillion-dollar kickback scheme at state-run oil company Petrobras a Supreme Court spokesperson said on Tuesday.

  • Monday, March 2nd 2015 - 06:39 UTC

    ExxonMobil ready to begin exploratory drilling offshore Guyana

    Persaud was updated on the deployment of the oil rig which will depart from Louisiana, for the Stabroek Block offshore Guyana to start drilling mid-March.

    Exxon Mobil says plans are in place to start exploratory drilling in Guyana this month. In a release it was disclosed that the Guyana Minister of Natural Resources Robert Persaud, met with Chuck Calavan, ExxonMobil Vice President of US and Latin America and Jeff Simon, Country Manager, ESSO.

  • Sunday, March 1st 2015 - 22:03 UTC

    Brazil consumers' power bills increase an average 23.4% as of next Monday

    The rate hike is geared to cover the estimated 22.1 billion Real (7.77 billion dollars) cost of a subsidy program, the government no longer will finance

    Brazil's utilities were granted an average special rate hike of 23.4% to cover the costs of a energy subsidy program that the government of President Dilma Rousseff has decided to stop funding directly, the country's electrical energy system regulator said on Friday, as reported by Folha de Sao Paulo.