Stories for August 14th 2012
Sunflower seed production down in Europe because of lack of rainfall
Sunflower seed production in the European Union, Ukraine and Russia will drop 11.7% to a total of 24.82 million tons this year, from 28.12 million tons a year ago, Hamburg-based oilseed analyst Oil World said on Tuesday.
Mercosur farmers plan to sow record soybean area; stocks drop to half from a year ago
Mercosur farmers in Brazil and Argentina are forecast to plant more soybeans for harvesting this season in response to higher prices, at the expense of wheat and corn sowing, according to Oil World. Paraguay and Uruguay Agriculture ministries have also anticipated an increase in the soybeans planted areas.
Petrobras says it struck light oil in deep waters offshore Sao Paulo state
Brazil's state-managed energy giant Petrobras confirmed the presence of significant quantities of light oil in deep waters off the country's south-eastern coast. Petrobras said in a statement released late Monday that the high-grade oil was in the Carcara well, located 230 kilometres off the coast of the Sao Paulo state, in the BM-S-8 block.
US, France and Mexico considering G20 emergency meeting to address soaring grain prices
US, France and Mexico are planning talks to consider whether an emergency meeting is needed to tackle the soaring price of grain. The three will hold a conference call at the end of this month after the worst US drought in 50 years threatens to cause a sharp rise in the cost of staple crops.
Standard Chartered CEO in US to discuss money laundering allegations
Standard Chartered chief executive is in New York to negotiate directly with the US regulator that accused it of “scheming” to hide 250bn dollars of transactions with Iran. The regulator will hold a hearing on Wednesday to decide whether to revoke the bank's New York banking licence. It is unclear yet whether Peter Sands will attend the hearing.
Olympic flag flies in Rio do Janeiro; IOC concern about the 2016 timetable
The official flag of the Olympics arrived in Rio de Janeiro, the host city of the next Games. Rio Mayor Eduardo Paes waved the flag after stepping off the plane with other officials and Brazilian athletes who competed in London.
LATAM airlines planning a 359 strong fleet by 2014
Chile's newly merged regional carrier LATAM Airlines said on Monday it would spend 7.87 billion dollars on its fleet through 2014. The airline aims to have a 359-strong fleet by 2014, up from the 319 planes projected for this year.
Brazil investing to be in the top ten medals table for the Rio Games of 2016
The host nation of the next Olympics had a mixed outing in London and is hoping that a surge in spending (700 million dollars) on athletes and facilities will ensure it makes the top 10 medals table in 2016 on home soil in Rio de Janeiro.
Buenos Aires city underground service back running after ten day strike
Buenos Aires commuters will return to the underground trains on Tuesday following a temporary labour agreement which puts an end to a nerve racking ten-day strike that made the Argentine capital collapse at times
YPF plans to issue 760m dollars in bonds; Argentina fuel imports soar in June
Argentina’s nationalized YPF oil and gas corporation will issue bonds for 3.5 billion Pesos (760 million dollars) as part of its push to reduce fuel imports by investing in domestic output, the energy company said in a letter to regulators on Monday.
