Europe’s largest paper and pulp maker Stora Enso anticipated a drop in first quarter earnings and said it is freezing the expansion of a mill in Brazil because of sliding demand for wood and fine paper used in offices and magazines.
Falkland Oil and Gas Ltd (FOGL.L), which has a farm-in-deal with BHP Billiton, said on Tuesday it expected to be drill ready by the end of the third quarter or early 2010. The announcement was made after having posted a narrower full-year pre-tax loss.
Ecuador’ government owned Petroecuador signed a transitional contract with Repsol-YPF, giving the Ecuadorian government a bigger share of the Spanish oil company’s profits for one year and paving the way for new fee-for-service deal.
Favourable timber growing conditions, a good business climate and a stable political environment has attracted a number of European forest companies to invest in Uruguay the past few years, reports WRQ.
An offshore services support Norwegian vessel will begin next week working for the recovery of the Chilean flagged trawler “Polar Mist” loaded with containers containing gold and silver that was lost in the South Atlantic offshore Argentina.
The British government has offered a grant of up to £27 million to motor giant Land Rover to build a new vehicle. The company will make a decision later this year on whether to go ahead with the £400 million project at its factory at Halewood on Merseyside.
Rockhopper Exploration, the North Falkland Basin explorer announced Monday that Environmental Impact Statement (EIS) documents prepared by RPS Energy in relation to planned future drilling activity have been submitted to the Falkland Islands Government. The EIS’s cover licences PL023, PL024, PL032 and PL033.
A Chilean and an Argentine company signed a partnership this week for the construction of a low altitude tunnel crossing the Andes to connect the neighboring countries, the crucial link for a bi-oceanic project dating back to 1994.
GeoPark Holdings has announced the successful drilling and testing of a new gas well - Yagan 1 - on the Fell Block in the extreme south of Chile at an initial production test rate exceeding 10 million cubic feet per day (mmcfpd) of gas.
China's Geely is expected to submit a bid to acquire Ford's Sweden's Volvo brand in a bold attempt to expand internationally. There are at least three other possible bidders, one of which is also a Chinese company, according to one of the people.