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.
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.
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.
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the Falkland Islands announced Friday the signing of a new rig contract with Ocean Rig under which the Eirik Raude has been replaced by the Leiv Eiriksson.
Foreign direct investment, FDI, in Uruguay during 2010 reached 1.627 billion US dollars which represents a 29% increase over 2009 and puts the country among the top six FDI recipients in South America and eighth in the region, according to the latest report from the UN Economic Commission for Latin America and the Caribbean, ECLAC.
Brazil’s Vale, the world’s largest iron ore producer, posted a record quarterly profit as mineral prices and sales of metals including copper and nickel surged. Net income increased to 6.83 billion USD from 1.6 billion, in the year-ago period, Vale announced Thursday in a regulatory filing.
German President Christian Wulff is in Brazil on a three-day visit aimed at strengthening ties between the two countries and discussing mutual co-operation in science and technology.
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.
Rockhopper Exploration has spudded the next appraisal well on the Sea Lion oil discovery in the Falkland Islands’ waters. Drilling began on the 14/10-5 appraisal well on May first 2011.
Argos Resources is a step closer to starting a drill campaign in Falkland Islands waters, where it is targeting a high priority area adjacent to Rockhopper’s Sea Lion discovery.