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MercoPress, en Español

Montevideo, September 21st 2024 - 09:01 UTC

Energy & Oil

  • Tuesday, May 21st 2024 - 20:38 UTC

    Taiwanese company gets deal to build electric buses in Paraguay

    The bus manufacturing plant in Paraguay is expected to generate some 2,600 job opportunities

    Paraguayan authorities signed a memorandum of understanding with Taiwan's Master Transportation to produce electric buses for the South American country. The arrangements were made during President Santiago Peña's tour of the Island with Industry and Commerce Minister Javier Giménez, who signed on behalf of the visiting delegation. Company President Ting-Fa Wu represented the producers of the DMIT e-Bus.

  • Wednesday, May 15th 2024 - 19:54 UTC

    Petrobras' shares plummet after Prates' departure from CEO post

    Prates said he was happy having averted full privatization rumors shadowing Petrobras

    Brazilian President Luiz Inácio Lula da Silva's decision to have Jean-Paul Prates removed as CEO of the State-run oil company Petrobras resulted in shares dropping more than 8% at the Sao Paulo Stock Exchange on Wednesday. Ordinary shares (PETR3) fell 8.36% while preferred shares (PETR4) went down 6.75%, it was reported. In addition, Petrobras' ADRs (American Depositary Receipt) in New York were down around 7.5% on Wednesday.

  • Wednesday, May 15th 2024 - 19:20 UTC

    Lula orders major reshuffle at Petrobras' helm

    In 1Q of 2024, Petrobras' profits shrank 23% from last year's 4Q

    President Luiz Inácio Lula da Silva has ordered a reshuffle at the top of Brazil's state-run oil company Petrobras, with Magda Chambriard replacing Jean-Paul Prates as CEO, Agencia Brasil reported. Following the head of state's decision late Tuesday, the board of directors approved the early termination of Prates' term Wednesday morning. In the meantime, and until Chambriard takes office, Corporate Affairs Executive Director Clarice Coppetti has been appointed on an interim basis.

  • Tuesday, May 14th 2024 - 10:26 UTC

    Russia claims to have found huge oil reserves in Antarctica; UK feels it could mean a complete new ball game

    Junior Foreign Minister David Rutley said that Russia has given a commitment to abide by the Antarctic Treaty.

    The House of Commons’ Environmental Audit Committee (EAC) held a special session on Russian oil exploration in the polar region, following on claims that the Rosgeo oil exploration company had reported that its research vessel Alexander Karpinsky has completed a comprehensive subsurface geological survey, mapping very promising oil and gas prospects on the Antarctic oil shelves.

  • Thursday, May 2nd 2024 - 10:04 UTC

    Petrobras hits new environmental achievement

    The latest environmental achievement was deemed an important element for Petrobras’ investors said Director Maurício Tolmasquim

    Brazil's state-run Petrobras oil company announced this week a 41% reduction in carbon dioxide (CO2) emissions between 2015 and 2023, Agencia Brasil reported. The result was “exceptional,” said Petrobras' Energy Transition and Sustainability Director Maurício Tolmasquim.

  • Thursday, April 25th 2024 - 13:31 UTC

    Bolivia: Former YLB executive found dead left letter denying allegations

    “I am innocent,” wrote the former lithium executive who pointed fingers at the current administration for its underachievements in the area

    Former Yacimientos de Litio Bolivianos (YLB) Executive Manager Juan Carlos Montenegro Bravo was found dead Wednesday. He left a letter explaining that he would make a painful decision because he could not stand to be “humiliated by a rigged justice.”

  • Tuesday, April 23rd 2024 - 06:32 UTC

    Namibia en route to becoming another Guyana oil discovery success story

    The Mopane field in offshore Namibia could contain some 10 billion barrels of oil.

    Portugal's oil company Galp Energia shares skyrocketed on Monday after the company announced that the first phase of its exploration in the Mopane field in offshore Namibia could contain some 10 billion barrels of oil.

  • Saturday, April 20th 2024 - 10:30 UTC

    Energy crisis prompts new emergency declaration in Ecuador

    The new power crisis came just ahead of Sunday's key referendum for Noboa's government

    Ecuador's President Daniel Noboa Friday issued a decree establishing yet another state of emergency due to a “serious internal commotion and public calamity” in the violence-torn South American country which is going through an energy crisis in addition to drug-trafficking gang crimes. Power cuts last up to about eight hours a day amid tight “rationing of electricity.”

  • Wednesday, April 17th 2024 - 10:18 UTC

    Brazil: Búzios deepwater field produces 1 billion barrels of oil in March

    Despite its size, Búzios trails the smaller but older Tupi field in volume output

    The Búzios Field in the Santos Basin, the largest ultra-deepwater facility of that kind worldwide, produced 1 billion barrels of oil in March, the state-owned company Petrobras announced this week, Agencia Brasil reported. Petrobras operates the field in a consortium with Pré-Sal Petróleo (PPSA) and the Chinese companies CNOOC and CNODC.

  • Monday, April 15th 2024 - 23:59 UTC

    Brazil and Argentina have much in common despite opposing presidents

    Argentina's relations with Brazil are a state policy, Mondino said at a press conference alongside Vieira

    Foreign Ministers Mauro Vieira of Brazil and Diana Mondino of Argentina met in Brasilia on Monday for talks aimed at bringing South America's two largest countries closer together, despite the opposing views of presidents Luiz Inácio Lula da Silva and Javier Milei, especially on each other.