Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, April 5th 2025 - 03:05 UTC

Energy & Oil

  • Monday, September 30th 2024 - 09:47 UTC

    Bolivia stops gas sales to Argentina, shifts toward Brazil

    The western Brazilian market is a Bolivian gas market, Dorgathen explained

    After terminating the supply to Argentina, Bolivia will up its gas pumping towards Brazil according to an agreement between YPFB and Petrobras. Buenos Aires announced it would no longer be needing Bolivian gas since Vaca Muerta, the second-largest reserve in the world and the fourth-largest oil reserve, guarantees the supply for its domestic market.

  • Monday, September 23rd 2024 - 08:55 UTC

    LNG project to go on with or without Petronas, YPF CEO says

    Local media are mentioning a 95% probability that the Malayan company would back down due to a slump in expectations

    Argentina's State-run oil company YPF CEO Horacio Marín admitted that the highly-announced US$ 30 billion joint Liquefied Natural Gas (LNG) venture with Malaysia's Petronas in Patagonia would go ahead despite the Asian partner's alleged intention to withdraw from it.

  • Monday, September 23rd 2024 - 08:35 UTC

    Power cuts inevitable in Argentina during next summer

    “The Energy Secretariat is working on the issue,” Francos also explained

    Argentina's Cabinet Chief Guillermo Francos reckoned there might be scheduled power cuts during the summer despite recent fare adjustments that represented a significant increase for most households. He argued that the measure would be the consequence of the lack of investments in recent years.

  • Friday, September 20th 2024 - 10:27 UTC

    Brazil evaluating return to summer daylight saving time

    Silveira said there was no energy risk in 2024 but it was necessary to think with an eye on 2025 and 2026

    Brazil's National Electric System Operator (ONS) suggested the federal government implement a summer daylight saving time scheme as part of its contingency plan, Agencia Brasil reported Thursday. The measure is now under evaluation with a decision due in the coming days, according to Energy Minister Alexandre Silveira, who also explained that even if adopted, it may not necessarily last the whole summer.

  • Tuesday, September 10th 2024 - 10:12 UTC

    Bolivian President explains the reasons behind the current crisis.

    Arce blamed Evo's government (in which he served as Economy Minister) for the crisis facing the current administration

    Bolivian President Luis Arce Catacora explained during a TV appearance that lower oil and gas outputs have led the landlocked country to its current economic plight, resulting in the lack of fuel for domestic consumption and US dollars for foreign trade transactions. In his message on Bolivia TV, Arce also highlighted his Government's plan to reverse the ongoing crisis.

  • Tuesday, September 10th 2024 - 08:12 UTC

    Morgan Stanley, Goldman Sachs, Citi forecast oil price falling in Q4 and 2025

    Weaker Chinese demand, strong US Shale production and end of OPEC+ cuts will force oil barrel price down anticipate investment banks

    Investment bank Morgan Stanley has again cut its forecast price for a barrel of oil, expecting the international benchmark to average US$ 75 a barrel in the last quarter of the year. This is because analysts at Morgan Stanley see rising headwinds on the demand side, which has been their key reason for cutting their Q4 oil price forecast.

  • Thursday, September 5th 2024 - 09:09 UTC

    Santiago de Chile to expand fleet of electric buses

    Santiago de Chile continues to position itself at the forefront of urban public transport mobility, said Minister Muñoz

    Chilean authorities are leading the region's transition towards environmentally friendly public transport networks by planning to replace some 214 diesel buses serving the Santiago Metropolitan area with electricity-powered ones in the short run, it was announced.

  • Monday, September 2nd 2024 - 11:35 UTC

    Mass gas emission cut proposed in Brazil by 2035

    According to Astrini, the goal is to present the study in technical forums and apply pressure on public officials

    According to a study by the Climate Observatory network, Brazil needs to cut greenhouse gas emissions by 92% by 2035 if South America's largest country is to make a fair contribution to limiting global warming to 1.5 degrees Celsius (ºC), Agencia Brasil reported. This target is based on 2005 emissions of 2.4 billion net tons, reducing the annual limit to 200 million net tons, it was also explained.

  • Saturday, August 31st 2024 - 09:20 UTC

    Maduro blames foreign fascist saboteurs for blackout

    “There is a permanent conspiracy and an attack on Venezuela by a fascist sector allied with the international rightwing led and financed by the US empire,” Maduro stressed

    Venezuelan President Nicolás Maduro Friday blamed fascist imperialism for the large-scale blackout that hit a large part of Caracas and its surrounding areas. “The investigations are advanced, they will be deepened,” insisted the head of state in a public message in which he stood behind the theory that the malfunction stemmed from foreign far-right sabotage. “Justice cannot be delayed,” he insisted.

  • Thursday, August 29th 2024 - 08:32 UTC

    Argentina betting on lithium and copper projects to overcome recession

    Minister Luis Lucero said Argentina was pushing to become a global supplier of lithium and copper with significant foreign investment

    With electric battery lithium leading, Argentina mining exports are expected to double to some US$ 10 billion in three years time, according to minister Luis Lucero who anticipated that copper is the other metal that will also have a huge boost given its importance in powering electric vehicles and artificial intelligence.