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MercoPress, en Español

Montevideo, May 19th 2025 - 10:43 UTC

Energy & Oil

  • Thursday, February 13th 2025 - 13:20 UTC

    Cuba going through one of its worst electricity-generation crises

    The island is heavily dependent on imported oil, which has been arriving in smaller quantities due to economic hardships

    Cuba has been reported to be facing severe power outages after the unexpected breakdown of the Felton 1 Thermoelectric Power Plant, worsening the situation in Havana and other parts of the island. The State-run National Electric Union (UNE) said numerous generation plants were out of service due to fuel shortages, local authorities blaming the US economic blockade for their hardships, when in reality infrastructure failures and poor maintenance to already obsolete equipment were other contributing factors. A total of 57 generation plants in the country, in addition to two floating units, were affected by the lack of fuel.

  • Thursday, February 13th 2025 - 01:18 UTC

    Uruguay's Green Energy Success Story Takes an Unexpected Turn

    Last year Uruguay generated 98% of its energy from renewable resources and proudly paved the way for a new form of energy sovereignty in a changing climate

    Uruguay has been considered a leading country in renewable energy, with 98% of its energy eolic, but now has surprisingly has invited foreign companies to explore for offshore oil and gas reserves, attracting some of the heavy weights of he industry, which has generated certain controversy in the country regarding concerns about the impact on marine life and the potential damage to Uruguay’s current global standing. OilPrice, which specializes in the oil and gas industry information comments on the decision.

  • Wednesday, February 12th 2025 - 09:48 UTC

    Bolivia's lithium company says deal with Chinese partners is risk-free

    The Chinese company has three years to start collecting top-quality lithium or leave Bolivia with no compensation after investing over US$ 1 billion

    Yacimientos de Litio Bolivianos (YLB) Legal Manager Pablo Nina warned Tuesday that the Chinese company Hong Kong CBC has three years to extract a mineral with 99.5% purity and 80% recovery in the raw material processing or face the dismantling of its two battery-grade lithium carbonate production plants in the Uyuni salt flat and leave the country.

  • Wednesday, January 22nd 2025 - 08:15 UTC

    Colombian company signs partnership with Bolivia's YPFB

    Signing the documents were YPFB's president Armin Dorgathen and Canacol's representative in Bolivia Luis Alberto Pérez

    Bolivia's state-run oil company signed Tuesday a series of agreements with Colombia's Canacol representing an investment of up to US$ 270 million for hydrocarbon exploration and exploitation undertakings in the Ovai, Florida Este, Arenales, and Tita-Techi areas, all of them in the department of Santa Cruz.

  • Friday, January 17th 2025 - 21:42 UTC

    Power cuts hit Buenos Aires Metropolitan Area and other parts of Argentina

    The real problem will come when there are 3 consecutive hot days, it was explained

    Several areas in the Buenos Aires Metropolitan Area (AMBA) and Rosario in the province of Santa Fe have been suffering prolonged power cuts which enraged residents who, in addition, were deprived of state subsidies on their electricity bills and are therefore paying full fare in exchange for... literally nothing.

  • Thursday, January 16th 2025 - 13:48 UTC

    German economy shrinks second year running; lack of Russian gas and Chinese industry hit hard

    Formerly a major customer for cheap Russian gas, Germany has had to scramble to find other energy suppliers

    The German economy, the heart of European Union dynamism shrank by 0.2% in 2024, the second year in a row, according to Destatis, the German Federal Stats Office. In 2023, the German GDP, Europe’s largest contracted by 0,3%.

  • Wednesday, January 15th 2025 - 21:09 UTC

    Chile's ENAP announces diesel production from used cooking oil

    Although environmentally friendly, ENAP's diesel remains more expensive to produce than regular diesel fuel

    Chile's state-run oil company ENAP (Empresa Nacional del Petróleo) announced Wednesday that the South American country has proven able to produce renewable diesel out of used cooking oil. “A new step towards a greener Chile! ENAP presents its new renewable diesel, made from used cooking oil,” a statement read.

  • Wednesday, January 15th 2025 - 10:02 UTC

    Norway awards offshore oil and gas exploration licenses in the Arctic region

    Energy Minister Terje Aasland said that, “If we are to uphold a stable production in the years to come, we must explore more and invest more.”

    This week Norway awarded 53 offshore oil and gas exploration licenses to 20 companies in its latest annual licensing round. Norway has increased offshore oil and gas exploration over the past couple of years as it looks to meet Europe’s surging demand after the continent ditched Russian energy.

  • Saturday, December 28th 2024 - 10:41 UTC

    Ancap and HIF Global sign agreement for green hydrogen plant in Uruguay

    Ancap's interim president, Diego Durand, described the day as “historic”.

    Uruguayan state-owned oil company Ancap, through Alcoholes del Uruguay (ALUR), signed an agreement with HIF Global to implement an ambitious green hydrogen and synthetic fuels project in Paysandú. The investment, estimated at US$6 billion, aims at producing 700,000 tons per year of renewable fuels, with a significant impact on the local and regional economy.

  • Friday, December 27th 2024 - 09:38 UTC

    Argentina's YPF sells lubricants subsidiary in Brazil

    YPF's brands in Brazil will remain under the new owner

    Argentina's State-owned oil company YPF agreed this week to sell its stake in its Brazilian lubricants subsidiary to the local Usiquimica to achieve “greater focus and profitability” in its operations, it was reported in Buenos Aires. The buyer has been producing and trading chemical products for 80 years.