Spain’s oil company Repsol plans to sell up to 3% of YPF on the Argentine market as part of a gradual divestment of its stake in that unit, according to company sources.
Argentine overseas sales of soybeans and by products reached 17.3 billion US dollars in 2010, equivalent to 25.4% of total exports, according to the latest report from the country’s statistics office INDEC. In 2009 the soy complex exports represented 23.3%.
Brazil’s benchmark consumer price index in April exceeded the upper limit of the government’s target range for the first time since 2005 but officials are confident April was a peak and during May the tendency is for inflation to decelerate.
Automobile production in Brazil fell 4.9% and sales dropped 5.5% in April from March, the national automakers' association said on Friday.
Cargill Inc and the world’s largest grain processor Archer-Daniels-Midland Co, are planning to invest about 560 million US dollars in new bio-fuel refineries in Brazil.
United States employers in April added more jobs than forecast. Payrolls expanded by 244,000 last month, the biggest gain since May 2010, after a revised 221,000 increase the prior month, the Labour Department said Friday in Washington.
Borders and Southern Petroleum PLC licensed for oil exploration in the Falkland Islands announced Friday the signing of a new rig contract with Ocean Rig under which the Eirik Raude has been replaced by the Leiv Eiriksson.
The number of claims for US unemployment benefits unexpectedly rose last week, pushed up by auto-plant shutdowns and other unusual events that seasonal variations failed to take into account, the Labour Department said.
Brazil’s soy bean processing volume increased 7% in 2010 over 2009 while at the same time reducing idle capacity given the larger crop and a jump in the production of bio fuels, according to a release from Abiove, (Brazilian association of vegetable oil industries).
Argentina's Eskenazi family has agreed to pay 1.3 billion US dollars to buy an additional 10% in YPF, the Argentine unit of Repsol, the Spanish oil company said on Wednesday.