Friday, May 27th 2011 - 08:44 UTC

Roubini forecasts Uruguay needs additional measures to contain inflation

Growth in 2011 will be speared by a robust domestic demand

Roubini General Economics, RGE, founded by Nouriel Roubini the economist described as Dr. Doom for having predicted long before his peers the US financial and mortgage crisis said the Uruguayan government must apply additional measures to higher rates and bank reserves, to help contain inflation.

Thursday, May 26th 2011 - 19:53 UTC

Construction of Uruguay’s second pulp mill begins with concern on costs in Pesos

Erwin Kaufmann, General Manager of the Montes del Plata project

The scarcity of qualified labour and the increase in costs have become a growing concern for the pulp mill that Chilean and Scandinavian investors are building in Conchillas, Uruguay.

Wednesday, May 25th 2011 - 22:49 UTC

Brazil’s Vale to invest 2.9bn USD in the country’s largest port by volume

Vale Brasil, the world’s largest ore carrier leaves Ponta de Madeira with 391.000 tons of iron ore for China

Brazil’s Vale Doce, the world’s biggest iron-ore producer, said it will invest 2.9 billion US dollars to increase the capacity of the Ponta da Madeira terminal in northern Brazil, making it the largest port in the country by volume.

Wednesday, May 25th 2011 - 22:37 UTC

Uruguay/Argentine LNG floating terminal project attracts 39 industry leaders

Uruguay National Energy Department Director Ramon Mendez: “tremendous success”

Uruguay and Argentina have received interest from 39 companies to build infrastructure for a floating LNG terminal, a project they are fast-tracking to start operations by the end of 2013, a project adviser said Tuesday.

Wednesday, May 25th 2011 - 06:44 UTC

Brazil plans to invest heavily in wind farms natural gas fired plants

Brazil currently has 1 Gigawatts of wind capacity in operation.

Brazil which gets about 80% of its energy from hydroelectricity is considering a record investment of 4.1 billion Real (2.5 billion USD) for wind farms this year to diversify its power supply.

Tuesday, May 24th 2011 - 22:04 UTC

New York Times says sacrificing Chilean Patagonia for a power is an irreparable mistake

The massive Aysen project includes five dams and would generate 2.75 Gigawatts

The New York Times has joined the Aysén region project controversy in Chilean Patagonia which was recently approved but has triggered massive protests from environmentalists and an overwhelming rejection from the majority of the population according to public opinion polls.

Tuesday, May 24th 2011 - 06:39 UTC

Korean conglomerate LGI secures oil block in southern Chile

James F. Park, GeoPark CEO

GeoPark oil and gas company with operations in Latin America announced in a joint release the definitive sale of oil and gas exploration and production blocks in the south of Chile to the Korean conglomerate LG International Corporation.

Monday, May 23rd 2011 - 06:04 UTC

Colombia’s oil company makes new discovery; plans to drill another ten wells in the block

The province of Meta to the south east represents 40% of Ecopetrol production

Colombian state oil company Ecopetrol said it made a new discovery at a well in the south-eastern Caño Sur block, of which the company is the sole owner and operator.
The Mito-1 exploratory well yielded an average of 200 barrels per day of heavy oil in initial testing, Ecopetrol, which plans to drill another 10 wells at that block in the near future, said.

Sunday, May 22nd 2011 - 22:46 UTC

Argentina and Peru main recipients of Chilean investments in services sector

In two decades Chile’s overseas investments in services totalled 22.7 billion USD

Argentina and Peru are the top recipients of Chilean overseas investments in the service sector according to report released last week covering a two decade period from 1990 to 2010.

Saturday, May 21st 2011 - 09:14 UTC

US processor building 180.000 tons storage grain terminal in Uruguay

The facilities should handle 2.8 million tons in the first year of operations

US agricultural processor Archer Daniels Midland Co said this week it was building a grain export terminal in Nueva Palmira, Uruguay, capable of loading large bulk shipments of corn, wheat, soybeans and soy-meal.


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