Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, May 12th 2025 - 21:43 UTC

Energy & Oil

  • Tuesday, November 26th 2024 - 10:45 UTC

    Falklands, larger oil reserves at Sea Lion development; independent resource report contracted by operator Navitas

    The hydrocarbons will initially be produced through the redeployed FPSO with a peak production rate of some 55,000 bbls/d.

    Rockhopper Exploration plc, the oil and gas company with key interests in the North Falkland Basin (“NFB”), has reported on the recent update published by Navitas Petroleum LP on Sea Lion development progress, which includes an updated NFB independent resource report conducted by Netherland Sewell & Associates (“NSAI”) (the “October 2024 NSAI Independent Report”) on behalf of Navitas.

  • Friday, November 22nd 2024 - 20:24 UTC

    Uruguayan company to sell biofuel to The Netherlands

    This biomass fuel is highly appreciated in Europe for its environmental advantages

    Uruguay is to ship to The Netherlands 300 tons of biofuels from ALUR's corn oil distillery in the Capurro neighborhood of Montevideo. These are the first biodiesel productions from distillery corn oils, it was also reported this week.

  • Thursday, November 21st 2024 - 10:21 UTC

    Petrobras to spend US$ 111 billion in five years to consolidate as South America’s top oil and gas producer

    US$ 77 billion of the total is earmarked for oil and gas exploration and production activities

    Brazil’s oil and gas giant, Petrobras plans to spend US$ 111 billion in the five years between 2025 and 2029, with US$ 77 billion of this total earmarked for oil and gas exploration and production activities, according to a securities filing, and making the country South America’s main oil and gas producer.

  • Thursday, November 21st 2024 - 10:01 UTC

    US Petroleum lobby presents Trump a policy roadmap to ensure US leadership in global energy

    API opposes California’s Advanced Clean Cars II rule, requiring 100% EV sales by 2035, which they argue restricts options and increase dependence on Chinese minerals

    A five point policy roadmap with the purpose of ensuring United States leadership in energy, protecting consumers and reducing inflation, elaborated by the American Petroleum Institute, API, has been addressed to incoming president Donald Trump and the next Congress.

  • Thursday, November 21st 2024 - 09:27 UTC

    Guyana oil output breaking all oil exploration and production records

    Since January 2024, oil companies offshore Guyana are pumping over 600,000 barrels per day, with developments, completed at a scorching pace

    The impoverished South American country of Guyana is emerging as a major international oil producer and exporter. The former British colony is expected to become not only South America’s top oil producer but a key driver of world petroleum supply growth. The country has also become one of the fastest growing economies in the region, according to the World Bank and the Inter-American Development Bank

  • Wednesday, November 20th 2024 - 09:34 UTC

    Fuel supply getting back to normal in Bolivia

    “The lines we had for gasoline have progressively diminished,” Hurtado said

    Bolivia's State-run oil company YPFB announced Tuesday that it had restored fuel shipments to the levels before the 24-day road blockade by former President Evo Morales followers, which disrupted supply and caused a nationwide crisis. YPFB explained that 7 million liters of gasoline and the same amount of diesel were distributed, thus ending the long queues at petrol stations that had become a common sight in recent weeks.

  • Tuesday, November 19th 2024 - 21:15 UTC

    Paraguayan President says he is okay after Monday's hospitalization

    Peña shifted the spotlight from his health crisis onto sporting events

    Paraguayan President Santiago Peña Tuesday shared a video message on social media saying he had fully recovered from Monday's health crisis that had him hospitalized while attending the G20 Summit in Rio de Janeiro.

  • Tuesday, November 19th 2024 - 11:52 UTC

    Argentina clinches deal to sell Vaca Muerta gas to Brazil

    Caputo (L) and Silveira met on the sidelines of the G20 Summit in Rio

    Argentina's Economy Minister Luis Toto Caputo and his Brazilian Energy Counterpart Alexandre Silveira signed Monday on the sidelines of the G20 Summit in Rio de Janeiro an agreement whereby gas from Vaca Muerta will be pumped starting next year, reaching 30 million cubic meters per day as from 2030, which is the same volume that South America's largest country used to buy from Bolivia.

  • Tuesday, November 19th 2024 - 09:19 UTC

    Brazil increasingly dependent on oil exports and energy production

    “We have reached the milestone of crude oil becoming Brazil’s top export, surpassing soybean meal, agribusiness, mining, and iron exports, said CEO Chambriand

    Crude oil has become Brazil’s main export product surpassing agribusiness and mining, according to the country’s hydrocarbons company Petrobras CEO Magda Chambriard. Brazil is not also becoming highly dependent on oil exports but also in energy generation.

  • Tuesday, November 19th 2024 - 08:46 UTC

    Global warming and the burning issue of money

    Baku had the money to host around 50,000 government officials, think-tank policy wonks, investors and campaigners (plus a few climate scientists) for two weeks

    By Gwynne Dyer - It's hard to imagine a less plausible venue for the annual UN-sponsored conference on climate than the dictatorial petro-state of Azerbaijan. Baku, the capital, has a walled medieval center that's worth a day or two, but offshore the shallow Caspian Sea is littered with a century's worth of old and new oil wells.