Investments

Investments
Wednesday, June 25th 2014 - 06:22 UTC

Uruguay's second pulp mill begins production: 1.3million tons annually

The complex includes the pulp mill, a harbor and a biomass power plant

Uruguay's second pulp mill Montes del Plata started production this week following an investment of 2 billion dollars, the largest ever in the recent history of the country. The announcement was made by the Chilean-Swedish complex that is running the plant.

Monday, June 23rd 2014 - 07:29 UTC

French energy 'jewel' Alstom taken over by General Electric

CEO Patrick Kron called it a win-win-win situation, good for Alstom employees as well as GE and the French state.

The board of directors of French power-to-rail group Alstom unanimously approved US conglomerate General Electric's 12.35 billion Euro bid to acquire its energy business.

Saturday, June 21st 2014 - 09:18 UTC

German companies warn of consequences from Uruguay/Argentina conflict

The UPM-Botnia pulp mill continues to be an issue of contention for Argentina

The Uruguay-Germany commerce and industry chamber (AHK), expressed its deepest concern over the current tension in relations between Uruguay and Argentina, and warned about the impact on the business climate for the two countries.

Friday, June 20th 2014 - 06:50 UTC

Uruguay advances details of third oil and gas bid round Punta del Este basin

Four ultra-deepwater (3.000/4.000 meters) and seven shallow-water blocks will be on offer

Uruguay has released a draft map of four ultra-deepwater and seven shallow-water blocks in the Punta del Este-Atlantic basin that will be on offer in the country’s third oil and gas bid round next year, officials said in Moscow this week, according to the oil and gas site Upstream.

Wednesday, June 18th 2014 - 08:15 UTC

Falklands gas condensate discovery shows potential for wider distribution

Borders & Southern Petroleum has three production licences in the South Falkland Basin

Borders & Southern Petroleum PLC said on Tuesday that new data on the Darwin gas condensate discovery in the Falkland Islands show the potential for wider hydrocarbon distribution.

Tuesday, June 17th 2014 - 07:06 UTC

Argentina questions UPM-Botnia's political influence on Uruguayan government

Timerman: it all happened following the visit of a Finnish minister to Montevideo

Argentine foreign minister Hector Timerman said that the pulp mill dispute with Uruguay is 'political' and wondered how great is Finland's' Botnia-UPM influence in the country, but at the same time underlined that all chances of dialogue have been 'exhausted'.

Tuesday, June 17th 2014 - 06:49 UTC

British company spuds exploratory well in Paraguay's Chaco

Jacarandá expects drilling to target a depth of 4.200 meters

London AIM listed President Energy PLC, has spudded what it calls the first deep exploration well in the Paraguayan part of the Chaco basin in almost 30 years.

Monday, June 16th 2014 - 06:26 UTC

Cristina Fernandez and Mujica, so close but ever so distant

Almagro sent a letter to Timerman inviting him to dialogue but also recalling a long list of non delivered Argentine promises

The lasted chapter of the resurgent diplomatic conflict between Argentina and Uruguay was not addressed during a brief encounter of presidents Cristina Fernandez and Jose Mujica in Bolivia where they attended the G77 plus China summit over the weekend.

Saturday, June 14th 2014 - 09:29 UTC

Argentina on the war path against Uruguay following re-ignition of pulp mill dispute

Timerman called for the immediate back-rolling of Uruguay's authorization to increase UPM pulp mill production

Argentina reacted strongly and with a letter in harsh terms to Uruguay's decision to authorize Finland's UPM-Kymmene pulp mill to increase annual production by 8%. The letter addressed by Foreign minister Hector Timerman to his peer Luis Almagro informs Argentina will take the case to international tribunals and is currently 'reassessing' bilateral relations.

Wednesday, June 11th 2014 - 01:16 UTC

Chilean government rejects major mega-energy project in Patagonia

The project called for building five dams on the Pascua and Baker rivers in Patagonia to generate electricity

A panel of Chilean Cabinet ministers voted unanimously on Tuesday to reject the 3.2 billion dollars HidroAysen mega-project, which envisioned the construction of five power-generating dams in the environmentally sensitive Patagonia region.

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