Rockhopper Exploration and Falkland Oil and Gas Ltd have confirmed a significant oil discovery at the Isobel/Elaine project to the north of the Falkland Islands. According to a release from the companies the new 14/20-2 well was a ‘re-drill’ of the prior Isobel Deep well which had to be abandoned prematurely due to operational issues despite encountering oil.
Brazil state-run hydrocarbons giant Petrobras will reportedly present a five-year investment plan next month with a target lower than the US$19 billion plan announced last year. Despite two budget cuts last year, Petrobras' plans for the 2016 to 2020 period will include a further drop, with the cuts expected to come from onshore and shallow-water areas, according to a report in the Brazilian daily Estado de S Paulo.
Falkland Oil and Gas PLC late Tuesday took a step closer to completing the proposed all-share merger with fellow AIM-listed Rockhopper Exploration PLC after its shareholders voted in favour of the deal.
Spanish vertically integrated seafood company Iberica de Congelados (Iberconsa) will invest up to €27 million in its Argentine and Namibian operations, the company's CEO announced. Following its private equity Portobello Capital majority stake acquisition in Iberconsa, the seafood company will carry out a “strong investment plan” to boost Argentina shrimp output and to enhance Namibia's plant capabilities in value-added production.
An emotional President Barack Obama – at times teary, at others impassioned and angry – urged ordinary Americans on Tuesday to rise up and defeat the well-organized gun lobby in a struggle to cut the carnage of 30,000 killed by gunfire annually in the United States. He accused the gun lobby of holding Congress hostage but called for voters to fight back to so “they cannot hold America hostage.”
The world's first seafloor massive sulfide mining project contract has been signed between Nautilus Minerals Inc, a mining company with headquarters in Canada and Tongling Nonferrous metals group, a state owned Chinese company.
Chilean state oil company ENAP announced the signing of an agreement with Japan's Mitsui & Co. for the development of two power generation projects with combined installed capacity of nearly 1,300 MW.
The Spanish manager of equity Portobello Capital has bought a majority stake in Iberconsa (Iberica de Congelados), the third company in the sector in Spain and the first one to capture and produce frozen hake on board.
A growing number of foreign investors are signaling interest in Argentina following the pro-market turn that newly-inaugurated President Mauricio Macri started showing since taking office. The latest financial player to endorse the country as a promising investment destination was JP Morgan Chase, the largest bank in the United States, where current Finance Minister Alfonso Prat-Gay worked in the past.
Brazil's state-run oil company Petrobras will have to agree to extract at least 900 million barrels more of oil and natural gas equivalent from its Marlim and Voador offshore oil fields to win early renewal of its concession rights, oil regulator ANP said.