Spanish energy giant Repsol SA said Tuesday that it agreed to sell a package of liquefied natural gas assets to Royal Dutch Shell Plc in a transaction valued at 6.65 billion dollars. Shell will pay 4.4bn in cash and assume 2.25bn in debt, Repsol said in a regulatory filing.
GeoPark Holdings has revealed the discovery of the new Palos Quemados gas field on the Tranquilo block in Chile in the southern region of Magallanes. The Palos Quemados field is the first gas discovery in the Tranquilo Block by GeoPark and the first hydrocarbon discovery in the Magallanes Fold and Thrust Belt in more than 40 years.
India's trade with Latin America has gone down in 2012 in comparison to 2011. This is the second time the trade went down in the last decade when it was steadily growing. The earlier decline was in 2009 at the height of global crisis. Trade with the top seven countries of the region declined 15% from 25.274bn dollars in 2011 to 21.302bn in 2012.
The Falkland Islands government at a public meeting defended their position of not including in the annual budget what they described as ‘windfalls’ from fishing and oil and instead adding the ‘exceptional” excess revenue to the Consolidated Fund.
Brazil and Russia signed several agreements in different fields geared to increase trade and to advance in defense, energy and agriculture cooperation, including the purchase of Russian anti aircraft missile batteries on condition that Moscow agrees to transfer technology.
President Evo Morales said on Thursday that Repsol and the other multinational companies operating in Bolivia should not fear nationalization since his government only appeals to that extreme when corporations think in ‘looting’ instead of investing.
Mercosur will retake next March technical discussions for a new proposal to be presented to the European Union for a trade and cooperation agreement, announced Argentine Foreign minister Hector Timerman next to his peer Antonio Patriota following bilateral talks on Wednesday in Rio do Janeiro.
Brazilian farmer groups are opposing a contract that Monsanto the world’s biggest seed company is offering farmers to end a dispute over royalty payments on its genetically modified soybean seeds. Monsanto is trying to resolve uncertainty over its ability to collect fees on its new Intacta soybeans, which it is scheduled to start selling in Brazil during the next growing season.
The achievements of democracy in Latin America, while simultaneously warning of the challenges that remain and that must be addressed in order to avoid stagnation in the current political process the region has been following in recent years, was highlighted by OAS chief in an address to the London School of Economics, LSE.
The Spanish infrastructure company Abertis said it was seeking 90 million dollars from Bolivia in compensation for the nationalization of its subsidiary Servicios de Aeropuertos Bolivianos (Sabsa). Abertis was also considering other possible legal claims, its chief executive Francisco Reynes said.