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MercoPress, en Español

Montevideo, September 30th 2023 - 02:33 UTC

Energy & Oil

  • Tuesday, September 5th 2023 - 10:30 UTC

    Populist Bolivia running out of natural gas reserves; northern Argentina supply also threatened

    “We have hit rock bottom,” president Arce said in a speech in the city of Oruro, leaving regions without gas export funds to face social welfare outlays

    Bolivian president Luis Arce, announced on September 1st. that the country’s natural gas reserves have been depleted, and exports to Argentina and Brazil will be interrupted, leaving a massive hole in the economy of the country.

  • Monday, September 4th 2023 - 11:08 UTC

    Posco pledges US$ 1.7 bn investment in Argentina

    Also in Seoul, Cafiero met with his South Korean colleague Park Jin

    Argentine Foreign Minister Santiago Cafiero signed an agreement in Seoul with steel company Posco, whereby the South Korean company will invest US$ 1.7 billion for the production of lithium carbonate in the provinces of Salta and Catamarca.

  • Thursday, August 31st 2023 - 09:42 UTC

    Brazil's oil production hits record figures in July

    A total of 2.638 million barrels of oil per day and 114.8 million cubic meters of natural gas per day were produced from 142 wells

    According to a document released Wednesday by Brazil's ANP oil agency, South America's largest country produced 4.482 million barrels of oil equivalent per day, Agencia Brasil reported. The amount was the highest in recorded history.

  • Tuesday, August 29th 2023 - 06:25 UTC

    Argentina has a medium term lithium export annual target of 400,000 tons

    “Argentina is already part of the lithium development wave. Last year, minerals worth US$ 3.8 billion were exported,” pointed out Mining minister Fernanda Avila

    Lithium exports from Argentina are poised to increase in the coming years, specifically from 34,000 tons to 400,000 tons of lithium carbonate, as mentioned by the Mining Secretary, Fernanda Ávila in Buenos Aires.

  • Monday, August 28th 2023 - 10:14 UTC

    Falklands Argos Resources negotiating its North Falkland Basin production license with Canadian company

    Argos Resources confirmed the Board intends to seek shareholder approval for the Company to be wound up and a liquidator appointed ahead of the cancellation

    Falkland Islands oil and gas exploration Argos Resources Ltd has announced changes in its board of directors, until a general meeting of shareholders is announced, and the executive directors finalize the sale of its PL001 production license interests in the North Falkland Basin to JHI Associates. The Argos sold asset is expected to be a shareholding in JHI.

  • Saturday, August 26th 2023 - 23:32 UTC

    Peña and Massa hold meeting in Asunción

    Paraguay's President Santiago Peña and Argentina's Economy Minister and presidential candidate Sergio Massa met in Asunción Thursday to discuss the Yacyretá hydroelectric dam and the Paraná River waterway, among other topics of bilateral interest.

  • Saturday, August 26th 2023 - 23:24 UTC

    Argentina set out to replace gas imports from Bolivia

    Yearly savings would amount to around US$ 1.96 billion, Royon's agency explained.

    Argentine authorities Friday launched the bidding process for the reversal of a pipeline so far used to import gas from bordering Bolivia in a move to supply the country's northern provinces with Vaca Muerta's output, it was reported.

  • Monday, August 21st 2023 - 11:18 UTC

    Brazil's Petrobras refineries increase gasoline 16,17% and diesel, 25,83%

    The Brazilian oil giant blamed the increase in international prices, and the company being at the limit of its operational capacity

    Brazil's Petrobras this last week increased the price of gasoline and diesel, 16,17% and 25,83% respectively at its refineries. The higher prices were announced following complaints from private refineries that domestic prices were out of line and tendency with the increased situation in international markets.

  • Friday, August 18th 2023 - 11:00 UTC

    Argentine gov't reached deal to freeze price of fuel

    “People have to know that we know what is happening to them,” Massa stressed

    Argentina's Economy Minister and presidential candidate Sergio Massa announced Thursday that fuel prices will be frozen until Oct. 31 after a 12.5% increase this week following an agreement with the country's leading oil companies, including the state-run YPF. After a previous 4.5% rise on Aug. 1, fuels accumulated an adjustment of 17.56% this month.

  • Wednesday, August 16th 2023 - 10:43 UTC

    Major power cut hits most of Brazil for hours

    Silveira did not rule out human failure or wilful malfunction

    A major-scale power outage left all of Brazil's states but one in the dark on Tuesday morning while the causes for such an event are still under investigation, it was reported. However, the National Electric System Operator (ONS) said that the reasons for the blackout and why the power grids linking the north and south of the country were separate issues. Authorities in South America's largest country said supply was back to normal after six hours.