The successful Falkland Islands' exploration company Premier Oil has cut full-year capital expenditure as the oil producer deferred some project development and exploration spending into 2016, it said on Thursday. Like its peers, Premier Oil has to reduce spending to cope with a halving in oil prices since a peak in June last year that has eaten into revenues.
Oil prices were testing fresh lows on Thursday, with a report that 100 million barrels of crude and heavy oil products are being held in ships at sea. West Texas Intermediate oil, the main North American contract, fell below $42 US a barrel, amid predictions that it would fall to the $20-30 level next year.
Brazilian President Dilma Rousseff has slapped preliminary fines worth 250 million Reais ($94 million) against a BHP Billiton-Value owned mine in Minas Gerais state where two dams burst, killing at least seven people.
Brazil's scandal-plagued state oil giant Petrobras on Thursday announced third-quarter losses of about US$ 1 billion, mainly due to the sharp devaluation of the Brazilian currency.Petrobras, mired in a hugely damaging scandal involving bribes and high-level political payoffs, posted losses of 3.76 billion Reais in the quarter, compared with a loss of 5.3 billion Reais a year earlier.
The Brazilian Social Democracy Party (PSDB), the largest opposition force in the country, demanded that the president of the Chamber of Deputies, Eduardo Cunha, be removed from office for alleged involvement in corruption detected in state oil company Petrobras.
Key Venezuelan government officials launched a furious broadside at the Organization of American States (OAS), a day after its secretary general, Luis Almagro, criticized Caracas and questioned the fairness of the upcoming December 6 parliamentary polls.
The contenders to replace Sepp Blatter as head of world football association FIFA are: Prince Ali Al Hussein, Sheikh Salman Bin Ebrahim Al Khalifa, Jérôme Champagne, Gianni Infantino and Tokyo Sexwale. Liberian FA president Musa Bility was dropped from the field after failing the check, while suspended UEFA boss Michel Platini will only be considered if he successfully appeals his 90-day ban. He would then be subject to an integrity check.
It's a fact, Argentina is the 'main obstacle' for Mercosur to advance in reaching a trade agreement with the European Union, and Venezuela, the latest incorporation to the group, is also hindering efforts, revealed Uruguay's Economy minister Danilo Astori during a conference on the country's investment prospects.
The recently elected members of Argentina’s new congress will be taking the oath on 3 December, and numbers show that the current coalition of president Cristina Fernandez, Victory Front, will retain the first minority in the Lower House, while it will enjoy a comfortable majority in the Senate.
The Falkland Islands commemorated Remembrance Sunday on a damp day with a soft rain that added to the poignancy and quiet of the ceremony held in the capital Stanley, while in London the Falklands' government representative laid a wreath at the Cenotaph.