Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, April 19th 2025 - 03:46 UTC

Energy & Oil

  • Tuesday, March 19th 2019 - 08:17 UTC

    
Brazil's Vale iron ore miner ordered to suspend operations in two more dams

    Vale has faced growing pressure to prove that its remaining dams are safe. The fatal disaster in the town of Brumadinho was the second of its kind in four years

    Brazilian court has ordered Vale SA, the world's largest iron ore miner, to suspend operations at two more dams, demanding that it prove the structures are stable. The court decision dated Friday is the latest in a series of orders forcing Vale to halt operations at various dams that contain the muddy detritus of mining operations after one such barrier collapsed in January, killing some 300 people.

  • Saturday, March 16th 2019 - 09:56 UTC

    China and Argentina resume talks for the construction of a nuclear power plant

    Argentina had hoped to announce an agreement on China-financed construction of Atucha III, during a state visit by Chinese President Xi Jinping last November

    A delegation from China will visit Argentina this month to discuss the construction of a nuclear power plant, signaling possible progress in a deal that could increase Beijing’s deepening influence in Argentina. Accordingly, the “technical team” from China would meet local suppliers about the long-stalled nuclear power plant project, reportedly worth up to US$8 billion.

  • Saturday, March 16th 2019 - 09:21 UTC

    Venezuelan continued oil fallout presents a challenge for global markets, says IEA

    Venezuela's oil production has fallen from approximately 2.4 million bpd in 2015 to around 1.2m bpd, as of the latest figures in February

    A major advisor to energy producing nations has suggested that the continued fallout from Venezuela could present a “challenge” for global oil markets. The International Energy Agency (IEA) has warned that crude supplies from Venezuela are at risk of falling sharply in the midst of an electricity crisis which has paralyzed the country recently.

  • Thursday, March 14th 2019 - 09:12 UTC

    Union halts operations at Argentina's biggest gold mine

    “It is unlikely the work stoppage will materially impact the fundamental value of the mine,” analysts at Canaccord Genuity wrote in a note

    A strike at Canadian Goldcorp Inc’s Cerro Negro mine in Argentina has forced a halt to operations, the company said on Tuesday, calling the union’s action at its biggest mine illegal. Mining activities stopped when the strike by the Asociacion Obrera Minera Argentina (AOMA) union began on March 8, and processing is also now halted as surface stockpiles have run out, Vancouver-headquartered Goldcorp said in a statement.

  • Thursday, March 14th 2019 - 07:53 UTC

    Beijing offers to help Venezuela restore its power grid

    Speaking in Beijing, Chinese Foreign Ministry Spokesman Lu Kang said China had noted reports that the power grid had gone down due to a hacking attack.

    China offered on Wednesday to help Venezuela restore its power grid after President Nicolas Maduro accused U.S. counterpart Donald Trump of cyber “sabotage” that plunged the South American country into its worst blackout on record.

  • Wednesday, March 13th 2019 - 08:34 UTC

    Shell agrees offshore oil exploration contracts in Colombia

    Shell will explore blocks COL 3 and GUA OFF 3, which cover about ​​880,000 hectares.

    Colombia’s government announced it had signed two exploration and production contracts with Shell in offshore areas of the Caribbean Sea that will require the company to make initial investments of US$ 100 million.

  • Wednesday, March 13th 2019 - 08:27 UTC

    Argentina boosting natural gas output and plans pipeline to supply Buenos Aires

    Pipeline construction contracts valued at up to US$1.8 billion to transport natural gas from Vaca Muerta to Buenos Aires, announced Minister Gustavo Lopetegui<br />

    Argentina’s efforts to boost its natural gas output and supply are progressing through new pipeline and transport projects and auctions, moves that are expected to balance the country’s production and demand, the energy secretary said on Monday.

  • Saturday, March 9th 2019 - 09:26 UTC

    Venezuela comes to a halt as the blackout extends for a second day

    Power went out late on Thursday afternoon due to a problem at Venezuela’s main hydroelectric plant, the government said, calling the event an act of “sabotage”

    Venezuela shut schools and suspended the workday on Friday as the worst blackout in decades paralyzed most of the troubled nation for a second day, spurring outrage among citizens already suffering from hyperinflation and a crippling recession.

  • Saturday, March 9th 2019 - 08:57 UTC

    World's largest sovereign fund, belonging to Norway, diversifying from oil

    Norway is western Europe's biggest oil and gas producer and its sovereign wealth fund, is used to invest the proceeds of the country's oil industry.

    Norway's US$ 1 trillion sovereign wealth fund is expected to sell some of its oil and gas holdings. The world's largest sovereign wealth fund owns US$ 37bn of shares in oil companies such as BP, Shell and France's Total.

  • Friday, March 8th 2019 - 09:11 UTC

    Premier Oil reports 2018 profit as a result of record production

    Premier Oil CEO Tony Durrant: “2018 saw higher production, positive free cash flow and a return to profitability. The Group is ahead of plans to restore balance sheet strength and remains focused on c

    UK-based oil and gas firm Premier Oil with interests in the Falkland Islands has announced its full-year results for 2018, reporting a post-tax profit hike to US$ 133.4m as a result of record production. These full-year results are a ‘return to profitability’ from 2017’s full-year loss of US$ 253.8m.