Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, May 9th 2024 - 09:28 UTC

Energy & Oil

  • 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.

  • Wednesday, November 29th 2023 - 10:35 UTC

    Bolivia's full Mercosur membership greenlighted

    For Brazil, Bolivia's full membership of Mercosur means cheaper energy, Senator Chico Rodrigues explained

    Brazil's Senate Tuesday greenlighted Bolivia's accession to the South American Common Market (Mercosur) as a full member of the bloc. Once President Luiz Inácio Lula da Silva enacts the bill, the regional alliance will once again consist of five full members -in addition to Argentina, Paraguay, and Uruguay- as it once happened when Venezuela was admitted but later suspended in 2017 for its undemocratic practices.

  • Tuesday, November 14th 2023 - 09:42 UTC

    Uruguayan minister speaks of not widespread fuel shortage

    “We are always open to dialogue,” insisted Facio

    Uruguay's Energy Minister Elisa Facio said Monday that there would be no fuel shortage in the South American country despite a stoppage in the distribution chain.

  • Monday, November 13th 2023 - 09:44 UTC

    Fuel shortages expected in Uruguay amid distribution conflict

    Ancap's Stipanicic insisted his company was not to blame

    The guild grouping Uruguay's fuel distributors announced a 72-hour strike starting Monday which could lead to shortages in the South American country, it was reported in Montevideo. The measure was adopted after changes in the Law of Urgent Consideration (LUC) regarding fuel distribution regulation costs affected the activity, it was explained.