Stories for July 13th 2010
Argos warned by Argentina to abstain from drilling in the Falklands or…
Argos Resources the latest company to announce it will begin oil exploration operations offshore the Falkland Islands was sent a letter by the Argentine embassy in London warning it “to abstain” from such activities otherwise “it will face legal actions”, according to reports in the Buenos Aires press.
Deepwater oil rig needed to drill in Falklands’ southern waters, confirms FOGL
Falkland Oil and Gas (FOGL) will press ahead with its drilling program offshore the Falkland Islands despite reporting that its Toroa F61/5-1 exploration well was dry. However FOGL, which is associated with Anglo-Australian mining giant BHP Billiton, said it will work first towards contracting a deepwater rig.
Chile and Bolivia meet in La Paz to discuss maritime dispute
Chilean and Bolivian Foreign Ministers gathered in La Paz, Bolivia on Monday to discuss resolving a decades-old maritime dispute.
Mrs. Kirchner praises China and calls for new world financial system
Argentine President Cristina Kirchner called on Monday for an international system of financial regulation ahead of the G20's next meeting in Seoul.
Chile clears minefields in Magallanes Region and Tierra del Fuego
Chile will announce this week that the extreme south of the country, in areas next to the border with Argentina, is free of antipersonnel mines. Chilean authorities consider this a major step to comply with the 2016 Ottawa convention timetable.
Petrobras first tests in the Franco sub-salt field confirm 50.000 bpd
Brazil’s oil regulator ANP said it concluded its first test at the Franco offshore field, which holds the oil reserves that the government may sell state-controlled Petroleo Brasileiro SA, Petrobras, in exchange for new stock.
“Vuvuzela” has been voted the word of the World Cup
Vuvuzela” has been voted the word of the World Cup by global linguists who said Monday the tournament will be best remember for the name of South Africa's deafening trumpet.
Colombian sales to Venezuela plummet 70%, but record year for overall exports
Colombian exports to Venezuela totalled 652 million US dollars between January and May 2010, showing a 71.4% fall compared with the first five months of 2009, reports Colombia's Department of Statistics (DANE).
Brazil’s automobile production in first half soars 19.1% over a year ago
Brazil’s automobile production increased 19.1% in the first half of the year compared to the same period a year ago and exports soared 62.3% according to the Brazilian automakers association Anfavea.
FAO says “some regulation• of commodities future markets is “desirable”
Some regulation of commodities futures markets is desirable, according to FAO, but any intervention should be cautious and stop short of imposing tight limits or an outright ban on such trading
