Stories for August 24th 2012
Paraguayan Senate defies Mercosur: votes against Venezuela’s incorporation
The Paraguayan Senate, at the heart of serious regional diplomatic dispute, voted by a solid majority against the incorporation of Venezuela as full member of Mercosur. Thirty one Senators rejected the Venezuelan Protocol of Adhesion, three supported it and eleven left the floor before the vote was taken.
YPF announces massive exploration program and calls on private investors
Argentina’s nationalized oil and gas corporation YPF announced it has plans to drill 250 wells in the next five years to further advance the country’s “hydrocarbons frontier”. During a presentation at a posh hotel in Buenos Aires under the heading of “Argentine Exploration Plan”, YPF CEO Miguel Galuccio called on investors to trust him and support the plan.
Argentina blasts the credit-risk agencies and warns of global “anarchy-capitalism”
Members from the Argentine government defended the “Kirchner inclusive development model” and blasted the credit-risk rating agencies while warning of the existence of a financial “anarchy-capitalism” which is suffocating the economies of the world.
Correa recalls the UK non extradition of Pinochet on “humanitarian reasons”
Ecuador's President Rafael Correa said that Britain's failure to extradite former Chilean dictator Augusto Pinochet more than a decade ago means it has no right to lecture others over the fate of WikiLeaks founder Julian Assange.
Ecuador’s President Rafael Correa sounds the bugle
By Sean Burges (*) Is Ecuadorian President Rafael Correa really saying that we cannot trust the judicial systems in Britain and Sweden? By granting Julian Assange asylum, he has implicitly stated the British judicial process is flawed and that Sweden is a slavish servant of the US government.
Colombia changes Finance minister but confirms open-economy business friendly policy
Colombian President Juan Manuel Santos moved Energy Minister Mauricio Cardenas to head the finance post on Thursday in a surprise move. At the midpoint of his four-year term, Santos asked all 16 ministers to resign, including Finance Minister Juan Carlos Echeverry, and set the stage for a cabinet shuffle aimed at shoring up his slumping approval ratings.
Brazilian former Senator agrees to reimburse 234 million dollars of looted money
One of two senators in Brazil who were stripped of their positions for corruption will reimburse 234 million dollars in public funds he embezzled in the late 1990s, authorities said Thursday.
Desire Petroleum assesses potential of its North Falkland Basin strategic prospects
In an update of the recently completed six well exploration program Falkland Islands’ Desire Petroleum reports it has new 3D seismic acquisition of several of its North Falkland prospects which are currently under evaluation to provide a full prospects’ inventory.
First half of 2012; “very significant development period” for Falkland Oil and Gas
The AIM listed company Falkland Oil and Gas Ltd reflected on Thursday on the progress made in the first half of the year when it managed a significant equity placing and negotiations for two farm-out deals which helped with a cash-balance of over 220 million dollars.
Cristina Fernandez in “good health condition” but still in rest and recovery
Argentine President Cristina Fernández is in “in a good health condition” after she cancelled all her official activities on Wednesday due to a low blood pressure bout, doctors informed on Thursday.
