Friday, September 9th 2011 - 09:23 UTC

Uruguay launches second round of hydrocarbons offshore exploration

Raul Sendic, head of state energy company Ancap said that there is a 70% chance of finding oil and gas

Uruguay detailed plans to auction 15 offshore exploration blocks on Thursday, part of the energy-short country's efforts to reduce its dependence on imports of oil and natural gas.

Friday, September 9th 2011 - 09:18 UTC

Falkland Oil & Gas confirms drilling rig for two slots in the first half of 2012

Chairman Richard Liddell, “FOGL in a strong financial position to drill”

Falkland Oil and Gas (FOGL), the exploration company focused on its extensive licence areas to the South and East of the Falkland Islands, reiterated it has signed a contract for the Leiv Eiriksson drilling rig for two firm slots in the first half of 2012.

Tuesday, September 6th 2011 - 22:27 UTC

Chinese consortium acquires 15% of world’s largest niobium producer in Brazil

CBMM has a mine with over 800 million tons of niobium reserves and holds 82% of the world niobium market share.

A consortium of five Chinese companies has acquired a 15% stake in Brazil's Companhia Brasileira de Metalurgia e Mineracao (CBMM), the world's biggest niobium producer, for 1.95 billion dollars in cash.

Tuesday, September 6th 2011 - 06:24 UTC

Colombia’s largest retailer launches stock sale to fund expansion in Uruguay

Disco and Devoto in Uruguay have a dominating percentage of retailing in Uruguay.

Colombia's largest retailer Almacenes Exito SA launched a 2.5 trillion peso (1.4 billion dollars) stock sale for local and foreign investors Monday, the proceeds of which will be used to expand into Uruguay and elsewhere.

Sunday, September 4th 2011 - 23:31 UTC

Blockaded by Argentina, Falkland’ plans to grow its own vegetables and eggs

The Islands has a long and successful experience in growing vegetables in poly tunnel

A quarter of million pounds (approximately 400.000 dollars) is to be used to produce more fruit, vegetables, salad and hen eggs within the Falkland Islands. The Executive Council (ExCo) agreed the funding which is to be administered by the Development Corporation (FIDC) in a bid to reduce the amount of imports into the Islands.

Saturday, September 3rd 2011 - 07:51 UTC

Uruguay oil company announces exploratory drilling inland with own resources

Hector De Santa Ana head of ANCAP Exploration and Production Department, cautious but optimistic

Uruguay’ government owned oil corporation ANCAP said on Friday it had begun exploratory drilling inland with its own resources. The announcement was done during the presentation of the II Uruguay Round to tender offshore exploratory blocks which has attracted interest from several regional and international corporations.

Wednesday, August 31st 2011 - 08:11 UTC

Mexico’s Pemex gains strong position in Spain’s Repsol with voting alliance

The Mexicans said they are only interested in Repsol’s top-end technology

Mexico's state oil monopoly Pemex said on Tuesday it aims to boost its access to top-end technology to explore for oil in the deep waters of the Gulf of Mexico by increasing its stake in Spanish oil firm Repsol.

Tuesday, August 30th 2011 - 05:55 UTC

Brazil to increase primary surplus and make room for cut in interest rates

Mantega said there is no immediate need for economic stimulus <br />

Brazil plans to further contain government spending this year to prepare the country for a global slowdown and make room for a cut in interest rates, Finance Minister Guido Mantega said on Monday.

Tuesday, August 30th 2011 - 03:56 UTC

Nobel laureate praises Argentina; tells US and EU spending is the way out of recession

Professor Stiglitz: “saving the Euro will cost money, but it will cost more money if it falls apart”<br />
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United States and the European Union “are using the same recipe that the IMF applied on Argentina” to address the current global financial crisis and this only leads to “stagnation” said Nobel laureate Joseph Stiglitz attending a gathering of Nobel Prize recipients and young economists in Lindau, Germany.

Tuesday, August 30th 2011 - 03:54 UTC

Argentina regulator to investigate YPF and Repsol YPF on accounting standards

Spain’s Antonio Brufau is chairman of YPF and CEO of Repsol YPF<br />

Argentina’s securities regulator said it will investigate the chairman and chief executive officer of YPF SA, the nation’s largest oil producer, as part of a probe into the company’s accounting.


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