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MercoPress, en Español

Montevideo, September 21st 2024 - 09:18 UTC

Energy & Oil

  • 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.

  • Saturday, November 11th 2023 - 10:52 UTC

    Argentina and Chile sign key lithium agreement

    The agreement “represents a milestone for Chile, being of great value for the National Lithium Strategy,” van Kleveren explained

    Authorities from Argentina and Chile Friday signed a Memorandum of Understanding to establish a Binational Lithium and Salt Flats Working Group which represents a significant step towards strategic cooperation in this regard, it was reported in Santiago and Buenos Aires following negotiations dating back to June 2022.

  • Wednesday, November 8th 2023 - 18:43 UTC

    Guyana asks The Hague court to stop Venezuelan referendum on the annexation of half of its territory

    The former British colony of Guyana has the world's biggest reserves of crude per capita, while Venezuela sits on the largest proven reserves overall.

    Guyana has asked the UN's highest court to stop a Venezuelan referendum on the annexation of the Esequibo, half of its territory and its oil-rich offshore, a claim going back to colonial times.

  • Saturday, November 4th 2023 - 11:23 UTC

    Record oil and gas output reported in Brazil

    Of every 100 barrels produced in Brazil, 86 come from reservoirs geographically linked to Rio de Janeiro

    After extraction in September this year reached 4.666 million barrels of oil equivalent per day, authorities in South America's largest country spoke of record oil and gas production, Agencia Brasil reported citing oil authority ANP sources.

  • Thursday, November 2nd 2023 - 09:14 UTC

    Price of fuel goes up in Argentine to secure supply

    Gasoline must not increase more than it should ahead of the presidential runoff, Massa argued

    Argentina's state-run oil company YPF ordered an average increase of 9.75% in the prices of gasoline and diesel oil at pumps, as the freezing deal between the Economy Ministry and fuel producers came to an end Oct. 31 following a 12.5% adjustment the week after the Aug. 13 Open, Mandatory, and Simultaneous Primary (PASO) elections and their ensuing devaluation of the local currency.

  • Wednesday, November 1st 2023 - 21:23 UTC

    BP third quarter profits lower than expected

    According to the company's report, “while oil production was strong, gas trading had been weak in recent months.”

    British Petroleum posted profits of US$ 3.3bn (£2.7bn) between July and September, lower than predictions of US$ 4bn. Earnings were down from US$ 8.1bn in the same period in 2022 when BP made huge profits following Russia's invasion of Ukraine, which led to oil prices soaring.

  • Wednesday, November 1st 2023 - 09:13 UTC

    Fuel supply in Argentine getting back to normal pending price increase

    “All of a sudden the trucks appeared,” Massa said in an ironical tone

    Fuel supply in Argentina is slowly getting back to normal as an increase in the price at pumps has been admitted onto a negotiating table, it was reported in Buenos Aires. After shortages throughout the weekend, the Government acquiesced to an increase in the price of gasoline.