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MercoPress, en Español

Montevideo, May 17th 2024 - 05:56 UTC

Energy & Oil

  • Saturday, January 6th 2024 - 10:10 UTC

    FPSO Sepetiba begins production at Petrobras’ third largest oil field off Brazil

    The Mero field on the Libra block is located some 180 kilometers off the coast of Rio; FPSO Sepetiba has been chartered by Petrobras on a 22.5-year lease

    Oil and gas giant Petrobras has started production from a floating production, storage, and offloading (FPSO) vessel at its giant Mero oil field in the pre-salt area of the Santos Basin offshore Brazil. The third production unit at the field, out of a total of five, since two are yet to be installed.

  • Tuesday, December 26th 2023 - 08:20 UTC

    Angola quitting OPEC over dispute about oil production quotas

    Angola holds untapped oil and gas resources estimated at 9bn barrels of proven crude oil reserves and 11 trillion cubic feet of proven natural gas reserves.

    Angolan official media have reported from Luanda that Angola is leaving OPEC, following a meeting of the Council of Ministers, let by the president of the country, Joao Lourenco.

  • Wednesday, December 20th 2023 - 09:55 UTC

    Maduro meets with Repsol executives to advance on joint venture

    Repsol has a 40% stake in Petroquiriquire

    Venezuelan President Nicolás Maduro met Tuesday in Caracas with executives from the Spanish oil company Repsol to further discuss the details of Monday's agreement with the South American country's PDVSA (Petróleos de Venezuela) to reactivate operations as the United States temporarily lifted some sanctions previously imposed on the regime.

  • Wednesday, December 20th 2023 - 09:55 UTC

    Essequibo conflict means higher insurance costs for Guyana

    Oil drilling will entail higher premiums, it was explained

    Amid escalating concerns about the Essequibo crisis with neighboring Venezuela, Guyana has been included in the list of greatest risk for maritime transport drafted by insurers Lloyd's Market Association for vessels visiting offshore facilities in the former British colony's Exclusive Economic Zone, beyond “territorial waters.”

  • Monday, December 18th 2023 - 10:53 UTC

    Argentina to buy electricity from Brazil due to storm

    The storm came as the Argentine government was already planning to increase the price of electricity for consumers citing a new emergency

    Following the disruption caused by last weekend's storms to the country's grid, Argentina will import electricity from Brazil on a transitory basis, it was reported Sunday, in addition to other emergency measures adopted to face the crisis and restore supply in parts of the Autonomous City of Buenos Aires (CAMA) and its Metropolitan Area (AMBA).

  • Wednesday, December 6th 2023 - 10:44 UTC

    Maduro to grant oil-drilling licenses in Essequibo

    “We will solve this the easy way or we will...” said Maduro

    Although Venezuela does not have since 1899 the effective control of the Essequibo area disputed with Guyana, President Nicolás Maduro announced Tuesday that he planned to grant oil-drilling licenses after Sunday's referendum recognized the South American country's alleged rights over the territory.

  • Wednesday, December 6th 2023 - 10:30 UTC

    Falklands will proceed with Phase Three of Sand Bay Wind Farm

    Phase One of the project enabled three wind turbines to be operational from August 2007, and Phase Two saw a further three turbines online in February 2010

    Following approval from the Executive Council on Monday 27 November, the Falkland Islands Government will be able to proceed with “in principle approval” for Phase Three of the Sand Bay Wind Farm.

  • Wednesday, December 6th 2023 - 10:18 UTC

    Encore of “tripledemic” feared in California

    The Pirola variant (BA.2.86) of Covid-19 is expected to be prevalent this season

    Health authorities in the US State of California have reported a surge in the number of cases of Covid-19, flu, and RSV (respiratory syncytial virus). In response, residents have been urged to get vaccinated in a move to avoid the potential collapse of the sanitary network where an encore of last year's “tripledemic” is feared.

  • Saturday, December 2nd 2023 - 20:14 UTC

    Venezuela ignores UN ICJ ruling and will go ahead with a referendum on Guyana's Esequibo

    Venezuelan dictator Maduro said in Caracas that Guyana and ExxonMobil, which recently found oil offshore in Essequibo, had been dealt “a historic beating.”

    Venezuela will press on with a weekend referendum over the fate of a vast disputed area in the Esequibo region it claims, disputing neighboring Guyana's jurisdiction, despite the UN International Court of Justice, ICJ, Friday ruling urging restraint in the dispute.

  • Friday, December 1st 2023 - 22:45 UTC

    Brazil joining OPEC+ as of next year

    Brazil's accession was announced a day after President Luiz Inácio Lula da Silva visited Riyadh, where he was welcomed by Saudi Crown Prince Mohammed bin Salman

    Effective Jan. 1, 2024, South America's largest country will join the Organization of Petroleum Exporting Countries (OPEC), Brazil's Minister of Mines and Energy Alexandre Silveira announced this week after participating virtually in a meeting with other colleagues from the bloc.