Investments

Investments
Friday, September 5th 2014 - 02:17 UTC

ECB cuts rates to record low and negative for overnight deposits; Euro/dollar slumps below 1.3

“The newly decided measures...will have a sizable impact on our balance sheet,” anticipated ECB President Mario Draghi

The European Central Bank cut interest rates to new record lows on Thursday, unexpectedly lowering borrowing costs to try to lift inflation from rock-bottom levels (deflation) and support the stagnating euro zone economy. The ECB cut its main refinancing rate to 0.05% from 0.15%.

Friday, September 5th 2014 - 02:14 UTC

Brazil leaves basic interest rate unchanged at 11%, given 'inflation prospects'

“Assessing the evolution of macroeconomic scenario and the inflation prospects”, Copom unanimously decided to maintain the Selic rate at 11%

With Brazil battling recession and inflation a month away from the presidential election, the Central bank kept its key interest rate on hold at 11%. Traders and analysts had forecast no change and the central bank's monetary policy commission (Copom) duly decided to leave all quiet following its monthly two-day meeting.

Thursday, September 4th 2014 - 05:20 UTC

Argentina's dispute with holdouts “will not affect” Chinese investments, says Beijing

The Argentine delegation with their counterparts signing the documents to fund the nuclear power plant Atucha III

The current legal dispute between Argentina and holdouts (“vulture funds”) suing the country over its defaulted bonds “will not affect” planned Chinese investments, since Argentina and China have a 'strategic association', the head of the National Commission of Development and Reform (CNDR) of China Xu Shaoshi, warned on Wednesday.

Wednesday, September 3rd 2014 - 22:05 UTC

Soros signals Argentina’s shale is biggest place to be

Soros’ move suggests he is not focusing on the short-term problems facing Argentina, but believes that the geological fundamentals are more important.

One of the world’s legendary investors is upping his bet on Argentina’s shale oil and gas industry in a show of confidence for shale production in South America’s largest unconventional prize —and a big boost for both super-majors and smaller players making big waves in the heart of new discovery areas.

Wednesday, September 3rd 2014 - 06:37 UTC

Kicillof in China to confirm loans and a much needed swap dollars

YPF CEO Galuccio, the powerful Economy minister Kicillof and Minster De Vido

Credit strapped Argentina is wooing Beijing and with this purpose Economy Minister Axel Kicillof, Planning Minister Julio De Vido and YPF oil company CEO Miguel Galuccio are currently on an official trip to China, aimed at gathering funding for public works including two dams and one nuclear power plant.

Saturday, August 30th 2014 - 07:54 UTC

Chile's oil corporation plans to pad drill 55 wells for gas in Tierra del Fuego

ENAP current production of gas in 450.000 cubic meters per day

Chile's petroleum corporation, ENAP, is planning to drill 55 non conventional new wells in Tierra del Fuego beginning September until the end of 2015, with the purpose of increasing the current production from 450.000 cubic meters per day to a million cubic meters of 'tight' gas.

Saturday, August 30th 2014 - 06:41 UTC

Falklands Argos Resources oil explorer confident on its farm-out outlook

The company said its farm-out campaign has been strengthened by the contracting of the Eirik Raude deep water rig by Noble Energy and Premier Oil

Falkland Islands Argos Resources Ltd posted Friday a narrowed pre-tax loss for the first half, saying it is more confident on the outlook for its farm-out efforts following the recent contracting of the Eirik Raude deep water rig by Noble Energy Inc and Premier Oil PLC.

Friday, August 29th 2014 - 07:32 UTC

Malaysia Petronas joins YPF to develop shale-oil reserves in Argentina

More than 30 wells will be drilled in the pilot stage, which is scheduled for the first quarter of 2015, YPF said in a statement.

Argentine government controlled energy company YPF said on Thursday it signed a 550 million dollars agreement with Malaysia's Petronas to develop shale-oil reserves in the massive Vaca Muerta formation.

Tuesday, August 26th 2014 - 07:26 UTC

Falklands: Premier Oil confirms full commitment to Sea Lion project

Various operators in the Falklands, including Premier have secured a rig on a time-share basis for a rolling exploration/appraisal campaign next year (Pic S. Luxton)

Premier Oil has updated progress on the Sea Lion project, the first field development offshore the Falkland Islands. Latest subsurface studies suggest recoverable reserves for the Phase 1 development at 308 MMbbl, with further upside of 60 MMbbl if next year’s well on the Chatham prospect confirms that there is no gas cap in the western side of the field.

Monday, August 18th 2014 - 07:19 UTC

US Panama Canal workers recall and celebrate the century old feat

Built by the US in a 10-year construction effort after a failed French dig, the 77-km-long canal opened on Aug. 15 1914, becoming a vital global trade route.

The 100th anniversary of the opening of the Panama Canal, hailed at the time as one of the world's great wonders, has inspired a celebration in central US state Florida to showcase the experience of the US canal workers behind the engineering feat.

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