Saturday, March 1st 2014 - 05:12 UTC

Uruguay approves IMF test, but inflation and the neighbors could bring surprises

IMF Deputy managing director Naoyuki Shinohara visited Montevideo

The International Monetary Fund lowered its forecast for economic growth in Uruguay this year to 3% from its previous estimate of 3.3%, the IMF's deputy managing director said on Friday in Montevideo. Naoyuki Shinohara told reporters that the revision is due to lower growth expected in Uruguay's neighbors Argentina and Brazil and lower prices for commodities and Uruguayan exports.

Saturday, March 1st 2014 - 02:29 UTC

Core-hole confirms conventional oil reservoir potential in north Uruguay

Petrel Energy Managing Director, David Casey said the exceptional permeability measurements have been surprising

Australia's Petrel Energy has confirmed the conventional oil reservoir potential of the San Gregorio and Cerrezuelo sandstones in Uruguay following detailed analysis of the Cardozo Chico core-hole samples. Petrel said that laboratory testing undertaken by Weatherford in Houston returned excellent permeability and porosity measurements.

Saturday, March 1st 2014 - 02:24 UTC

Euro-zone inflation stabilized at what central bank calls 'danger zone'

Unemployment in the Euro zone remains at record highs

Euro zone inflation stabilized in what the European Central Bank has called the “danger zone” in February, data showed on Friday, while unemployment remained stuck near record highs ahead of an ECB policy meeting next week.

Wednesday, February 26th 2014 - 23:04 UTC

Falklands/Malvinas: Argentina has “no conflict hypothesis” says Defense head

Rossi said he wished he had all the funds announced by the Sunday Express

Minister of Defense Agustín Rossi said Argentina has no “conflict hypothesis” regarding the Falklands/Malvinas Islands, strongly denying statements from a British newspaper which argued the UK was closely monitoring Argentina's investment in military procurement.

Wednesday, February 26th 2014 - 07:03 UTC

Britain's oil and gas industry faces 'biggest challenge in 50 years' because of low level of exploration

Exploration drilling was down to 15 in 2013 from 44 wells six years ago

Britain's oil and gas industry has warned it faces its “biggest challenge in 50 years” due to the low levels of exploration. Industry body Oil and Gas UK said only 15 wells were drilled last year. That was despite strong levels of investment, reaching a record last year and sustained this year.

Tuesday, February 25th 2014 - 20:43 UTC

Repsol board approves the YPF compensation deal worked out with Argentina

Cabinet chief said the deal was 'positive' for Argentina to recover energy self-sufficiency

Spanish oil major Repsol's board approved on Tuesday in Madrid a definitive 5 billion dollars settlement from Argentina over assets seized in 2012, drawing a line under a two-year battle for compensation.

Tuesday, February 25th 2014 - 04:41 UTC

Falklands oil company completes 3D survey; prepares drilling program for next year

PGS M/V Ramform Titan operated this last survey (Pic FB)

Falkland Oil and Gas Ltd, FOGL, announced on Monday the completion of its 3D seismic survey offshore the Falkland Islands. This is the third and final 3D survey prior to the next drilling program, which is expected to commence in early 2015, said the company in a release.

Tuesday, February 25th 2014 - 04:29 UTC

ENAP Magallanes begins production at new well; company's profits soar in 2013

The Chilean state owned company plans to drill 32 wells in Magallanes region and Tierra del Fuego

Chile's state-owned oil and gas company ENAP successfully put into production the well “Paraguaya 2” at Intracampos Block (100% ENAP) in Tierra del Fuego, with an initial flow rate of 160 cubic meters per day of oil, equivalent to 1,006 barrels.

Monday, February 24th 2014 - 22:28 UTC

Brazil and EU agree to lay an undersea cable to avoid US internet surveillance

“We have to respect privacy, human rights and the sovereignty of nations. We don't want businesses to be spied upon” said Rousseff

Brazil and the European Union agreed on Monday to lay an undersea communications cable from Lisbon to Fortaleza to reduce Brazil's reliance on the United States after Washington spied on Brasilia.

Friday, February 21st 2014 - 10:02 UTC

Barcelona charged with tax fraud when the purchase of Brazil's forward Neymar

Neymar, how much was the final price and how was the split

Barcelona have been charged by a Spanish court with committing tax fraud in the signing of Brazil forward Neymar last year in the latest twist to a saga that has already claimed the scalp of the club president.


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