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MercoPress, en Español

Montevideo, October 2nd 2026 - 11:44 UTC

Energy & Oil

  • Thursday, April 9th 2026 - 01:08 UTC

    Brazilian judge suspends 12% crude oil export tax for five international oil companies

    Judge Humberto de Vasconcelos Sampaio ruled that the sudden imposition of the 12% rate amounts in practice to the creation of a new tax burden with a “merely revenue-raising” purpose

    A federal judge in Rio de Janeiro issued a preliminary injunction suspending the 12% crude oil export tax for five international companies operating in Brazil: Shell, TotalEnergies, Equinor, Repsol Sinopec and Petrogal. The ruling represents an initial court victory for the oil companies in their dispute with President Luiz Inácio Lula da Silva's government over a levy they consider unconstitutional.

  • Wednesday, April 8th 2026 - 21:11 UTC

    QatarEnergy and Chevron join Shell in Uruguay's offshore oil exploration

    Uruguay's offshore area encompasses more than 25,000 square kilometers of mapped territory, divided into seven blocks designated OFF-1 through OFF-7

    QatarEnergy and Chevron have formally entered as non-operating partners in offshore hydrocarbon exploration blocks off Uruguay's coast, in areas operated by Shell, state energy company Ancap announced. The incorporation of two of the world's largest energy companies reinforces international interest in Uruguay's offshore petroleum potential, a frontier exploration area that has gained prominence over the past two years.

  • Tuesday, April 7th 2026 - 21:06 UTC

    “Has anyone talked about democracy? No”: OEI secretary criticizes Trump's oil-driven approach to Venezuela

    The Trump administration has implemented a series of measures to facilitate US investment in Venezuela's energy sector

    The secretary general of the Organization of Ibero-American States for Education, Science and Culture (OEI), Mariano Jabonero, said that US President Donald Trump's primary interest in Venezuela is energy-related and has nothing to do with promoting democratic values or civilization.

  • Tuesday, April 7th 2026 - 12:28 UTC

    Chavismo and opposition faction seek judicial pause to shield Citgo and PDVSA assets

    Guaidó and the Citgo logo. Since 2019, Venezuelan assets in the US were placed under opposition-appointed boards after PDVSA sanctions

    Lawyers representing Delcy Rodríguez's government and those of the opposition sector that has controlled Venezuelan assets in the United States since 2019 jointly asked a New York court for a 45-day suspension in a case where international creditors are seeking to seize funds linked to Petróleos de Venezuela (PDVSA).

  • Friday, April 3rd 2026 - 04:46 UTC

    What did Milei say about Falklands oil and why does it matter for Sea Lion?

    “We act with determination against unilateral and illegitimate activities that seek to exploit resources belonging to the Argentine people,” the president said

    Argentine President Javier Milei warned Thursday that his government “will respond with all necessary diplomatic measures” to protect the country's interests in the face of the advancing Sea Lion oil project, operated by Rockhopper Exploration and Navitas Petroleum in the North Falklands Basin. The remarks, delivered during the ceremony marking the 44th anniversary of the war, represent the Milei government's firmest stance yet on a project that has just cleared a decisive financial milestone.

  • Thursday, April 2nd 2026 - 21:01 UTC

    Milei reaffirms Falklands sovereignty, warns oil firms and vows to rebuild the armed forces

    In a pointed warning, Milei addressed the final investment decision announced by Rockhopper Exploration and Navitas Petroleum for the Sea Lion field in the North Falklands Basin

    Argentine President Javier Milei on Thursday reaffirmed his country's sovereignty claim over the Falklands Islands, warned of a diplomatic response to British oil exploration in the area, and announced that 10% of fiscal revenue from privatizations will be allocated to purchasing weapons and equipment for the armed forces.

  • Thursday, April 2nd 2026 - 03:00 UTC

    Trump vows to send Iran “back to the Stone Age” as oil surges back above $100

    Trump said U.S. military objectives are “nearing completion” but offered no clear timeline for ending the war and did not clarify whether Washington would deploy ground troops

    Oil prices surged on Wednesday after U.S. President Donald Trump vowed in a televised address to the nation to hit Iran “extremely hard” over the next two to three weeks. West Texas Intermediate (WTI) crude rose 4.1% to $104.21 per barrel, while Brent, the international benchmark, gained 5% to $106.42, according to CNBC data.

  • Wednesday, April 1st 2026 - 10:37 UTC

    Bolivia: probe into ring that stole and adulterated fuel imported through Chilean ports

    YPFB tanker trucks with a capacity of up to 33,000 liters allegedly were illegally offloading between 700 and 1,000 liters at the Chilean ports of Arica and Iquique

    Bolivian President Rodrigo Paz on Tuesday denounced the existence of an international ring dedicated to stealing and adulterating gasoline and diesel imported into the country, with operations detected in Chile, Argentina, and Paraguay. According to the president, the scheme originated under the previous management of Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), the state-owned fuel supply company.

  • Wednesday, April 1st 2026 - 09:01 UTC

    Another front for Trump, “pain in the pump”, gasoline above US$ 4 a gallon

    The US$4.02 average price a gallon in US is the highest since August 2022. And the average price for diesel is now US$ 5.45, according to AAA

    ”If the (Iran) conflict is contained soon, the hit to confidence may be temporary, but a prolonged crisis could prompt more precautionary saving and further discretionary spending cuts,” warned Moody’s in a report on the current war in the Middle East, and the impact for US households.

  • Tuesday, March 31st 2026 - 03:58 UTC

    Oil tops $114 a barrel as Iran conflict drives record monthly surge

    The rally comes as the conflict between the United States, Israel, and Iran enters its fifth week with no clear resolution in sight

    Brent crude, the European benchmark, closed Monday at $112.78 per barrel and continued climbing in the futures market past $114, its highest level since July 2022. Oil has surged roughly 55% in March, the largest monthly gain since the contract's inception in 1988.