Investments

Investments
Monday, September 22nd 2014 - 04:16 UTC

Mujica brags on foreign policy; Latam ready to play a larger role in peace issues, Europe has lost clout

“Europe has lost clout, has fallen into 'military adventurism' and forcing sanctions only punishes the weakest and most vulnerable”, argued Mujica

Uruguay's president Jose Mujica said the latest world events show that Europe 'has lost clout' in global affairs, and has lost strength as 'peace mediator', and this role could be “much better performed by Latin America”.

Thursday, September 18th 2014 - 06:25 UTC

Developing oil field Libra off Brazil will cost 80bn dollars said France's Total

Libra, the first of Brazil's pre-salt fields to have been auctioned off, holds reserves estimated at between 8-12 billion barrels of recoverable crude

Brazil's biggest oil field, Libra, will cost 80 billion dollars to develop, according to a senior executive with France's Total, one of five consortium members participating in the project. Total's vice president of exploration and production for the Americas, Ladislas Paszkiewicz, made the estimate at the Rio Oil & Gas conference, which began Monday and runs through Thursday.

Thursday, September 18th 2014 - 05:03 UTC

Falklands oil company is ready to begin drilling at the end of 2015 first quarter

In all, FOGL expects to take part in a five-well drilling program that will target more than 1.3 billion barrels of oil off the Falkland Islands

Falkland Oil and Gas Limited (FOGL) reported this week that it is making progress with its preparations for its next drilling campaign, which is scheduled to start during the first quarter of 2015 off the South Atlantic Falklands Islands.

Wednesday, September 17th 2014 - 04:02 UTC

Brazil will hold new round of oil right auctions in the first half of 2015

The sale will be the first auction of concession rights since 2013 and third since 2008, when government halted annual oil-rights auctions to re-write its oil law

Brazil will hold a 13th round of oil rights auctions in the first half of next year in a sale that will include new areas in the country's promising Eastern Margin offshore region, a senior mines and energy ministry official said this week.

Tuesday, September 16th 2014 - 07:41 UTC

Norwegian company buys Acuinova Chile with 40.000 tons production capacity

Asset purchase includes a hatchery, a smolt facility, 36 sea water licenses and a primary and secondary processing facility, all located in Chile's Region XI.

Norwegian giant salmon-faming company Marine Harvest has announced an agreement to purchase assets of the former Chilean farming company Acuinova Chile SA, currently in bankruptcy, for 120 million dollars.

Tuesday, September 16th 2014 - 05:20 UTC

Santander new chairwoman confirms full control of the Brazil branch

Ana Botin, told shareholders at an extraordinary meeting she would defend the legacy of her father Emilio Botín at the helm of the Euro zone's biggest bank.

Spanish banking giant Santander under its new executive chairperson Ana Botin announced on Monday the purchase of the remaining 25% of Banco Santander Brasil which it did not already own.

Friday, September 12th 2014 - 01:43 UTC

China constructing a satellite tracking station in Argentine Patagonia

According to the Neuquen province minister Rodolfo Laffitte, the space antenna will be finished and ready to operate next February.

A space tracking station for lunar exploration being built in Argentine Patagonia by China, as part of the strategic relation and accords between the two countries, has caused concern in the Argentine congress because of the secrecy surrounding the terms of the deal.

Friday, September 12th 2014 - 01:39 UTC

Singapore Olam will invest 80m in dairy processing facility in Uruguay

The plant is expected to begin production in 2017 with a potential of a million liters per day

Singapore based Olam International's wholly-owned subsidiary New Zealand Farming Systems Uruguay will be investing 80 million dollars to establish a new dairy processing facility in Uruguay.

Thursday, September 11th 2014 - 04:30 UTC

Despite all the negative economic data, Argentina's stock market has almost doubled this year

Much of the money flowing into Argentina's Merval this year has come from wealthy Latin American investors

Despite all the negative news on government restrictions imposed on the Argentine economy and the shortage of hard currency, the country's Merval Index has skyrocketed almost 100% this year, the highest of any stock market in the world. It includes many of the largest companies in the country such as Telecom Argentina and Energy Petrobras, along with banks and a steel maker.

Tuesday, September 9th 2014 - 04:46 UTC

Uruguay opens second pulp mill with annual production capacity of 1.45 million tons

Mujica during the opening of the pulp mill that is the single largest investment in the country's history

Uruguay officially inaugurated on Monday a second pulp mill, Montes del Plata, on the River Plate, belonging to Chile's Arauco and Swedish-Finnish Stora Enso, which is considered the largest single investment in the country and will have an annual production of 1.3 million tons.

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