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MercoPress, en Español

Montevideo, November 2nd 2025 - 21:35 UTC

Energy & Oil

  • Wednesday, August 20th 2025 - 08:10 UTC

    Trump in the Falklands

    European Commission President Ursula von der Leyen has pledged to President Trump that Europe will buy additional US energy and invest UD$600 billion in the US

    By Barry Eichengreen (*) - US President Donald Trump’s trade war resembles nothing so much as UK Prime Minister Margaret Thatcher’s Falklands War in 1982: one side deploys massive force, and the other withdraws with its tail between its legs.

  • Tuesday, August 19th 2025 - 11:42 UTC

    YPF legal saga: Irish court rules in favor of Argentina

    There are no assets to seize in Ireland, the judge argued

    An Irish court has ruled in favor of Argentina, rejecting a request by plaintiffs to enforce a US$16 billion New York judgment in that country. The plaintiffs in the YPF expropriation lawsuit sought to recognize and enforce New York Judge Loretta Preska's ruling in various foreign jurisdictions, namely England, France, Luxembourg, Australia, Canada, and Cyprus. However, the Irish court's decision was the first to deny this request.

  • Saturday, August 16th 2025 - 10:55 UTC

    YPF case: NY Court of Appeals rules in favor of Argentina

    The stay is limited solely to the June 30 surrender order from Judge Loretta Preska

    The Second Circuit Court of Appeals in New York has suspended a lower court's order that required Argentina to transfer 51% of its shares of the state oil company YPF to a New York bank. This overruling of Judge Loretta Preska's Sept. 2023 order is a significant win for Buenos Aires, as it allows the South American country to appeal the $16 billion judgment without having to surrender a key state asset

  • Wednesday, August 6th 2025 - 10:17 UTC

    BP announces major oil discovery off Brazil, while OPEC+ with Saudi Arabia leading, increase production

    The company said it had located oil and gas at the Bumerangue prospect, 404 kilometers from Rio de Janeiro, in a water depth of 2,372 meters

    Britain’s BP oil and gas giant announced this week its biggest oil and gas discovery in 25 years off the coast of Brazil. This happens when the corporation is in the midst of a major overhaul, dropping the renewable energy strategy thrust, and returning to traditional hydrocarbons policy.

  • Tuesday, August 5th 2025 - 11:16 UTC

    BP announces huge discovery off Rio de Janeiro

    However, production could take years to begin

    BP, the British oil and gas company, has announced its largest oil and gas discovery in 25 years, in the Boomerang Field, an area over 300 square kilometers within Brazil's Santos Basin, roughly 404 kilometers off the coast of Rio de Janeiro.

  • Friday, July 25th 2025 - 20:13 UTC

    Petro orders all Colombian coal exports to Israel halted

    In Petro's view, 60% of the coal Israel uses for weapons manufacturing comes from Colombia

    Colombian President Gustavo Petro has ordered the National Navy to intercept and stop any ships carrying coal bound for Israel in response to what he considers to be a genocide in Gaza. Coal exports to Israel had been banned by decree in August 2024, except for pre-existing contracts. However, some government officials apparently disregarded that order.

  • Friday, July 25th 2025 - 10:03 UTC

    Chevron cleared to resume Venezuelan operations

    Chevron had stopped producing crude oil in May in compliance with a White House decision

    President Nicolás Maduro confirmed on Thursday that US oil company Chevron has been authorized to fully resume its operations in Venezuela after months of suspension due to Washington's sanctions.

  • Monday, July 21st 2025 - 09:39 UTC

    Falklands, Public Meeting on Social and Economic Impacts of hydrocarbons project

    The poster inviting to attend the meeting at the end of July

    The Falkland Islands Government (FIG) and Navitas will hold a public meeting to present the findings from social and economic impact assessments of the proposed Sea Lion hydrocarbons project.

  • Wednesday, July 16th 2025 - 09:34 UTC

    Argentina granted a stay by NY court in YPF case

    Tuesday's decision follows rulings against Argentina by Judge Loretta Preska

    The Second Circuit Court of Appeals in New York Tuesday granted Argentina a temporary administrative stay on a ruling that ordered the country to hand over 51% of its shares in the state oil company YPF to various plaintiff funds.

  • Monday, July 14th 2025 - 19:11 UTC

    Judge Preska insists Argentina must pay for YPF expropriation

    Argentina has until Thursday to appeal Monday's ruling

    Judge Loretta Preska of the Southern District of New York Monday upheld her 2023 ruling against Argentina, rejecting the Libertarian Government's request to suspend the transfer of 51% of YPF shares to vulture funds Burford Capital and Eton Park Capital Management. This decision mandates the handover of shares valued at US$16.1 billion and is believed to represent a significant blow to the South American country, potentially leading to the loss of control over its national oil company.