Investments

Investments
Wednesday, April 22nd 2015 - 05:55 UTC

Gazprom and YPF will sign agreement to develop Argentina shale oil and gas deposits

YPF CEO Galuccio in Moscow to sign a contract on joint exploitation of the rich Vaca Muerta shale oil and gas fields

Argentine energy company YPF CEO Miguel Galuccio is scheduled to sign on Wednesday in Moscow a contract on joint exploitation of shale oil and gas in the rich Vaca Muerta fields of Patagonian province Neuquén. The contract is part of the bilateral agenda to be addressed by visiting Argentine president Cristina Fernandez on Thursday, when she meets with Vladimir Putin.

Wednesday, April 22nd 2015 - 01:58 UTC

Argentina sues Falklands' oil and support companies involved in hydrocarbons drilling

 “Argentina will defend its natural resources,” said Filmus, arguing that the companies are performing illegal acts by drilling near the Islands

The Argentine government on Tuesday sued several energy and support companies that are drilling for oil near the Falkland Islands, the latest chapter of a longstanding dispute over the South Atlantic archipelago, though analysts say it will have little practical effect. The criminal case was filed in Rio Grande, Tierra del Fuego province which according to the Argentine constitution includes the Falklands and Antarctica.

Monday, April 20th 2015 - 23:36 UTC

Hapag-Lloyd orders five 10.500 box-ships to boost South American operations

 Chief operating officer Anthony Firmin said: “This order underlines our leading role in Latin American traffic.”

Germany’s Hapag-Lloyd has clinched a new order for five 10,500 boxships to boost its South American operations. The vessels will be built by Hyundai Samho in South Korea for delivery between October 2016 and May 2017.

Saturday, April 18th 2015 - 10:13 UTC

UK accuses Argentina of bullying the Falklands; it's time they begin acting 'responsibly'

“It is an outrageous piece of bullying and threatening against the Falkland Islanders’ perfect right to develop their own economic resources”, said Fallon

Britain's Foreign Secretary Philip Hammond has accused Argentina of bullying after it announced on Friday in London that it was starting legal action against companies drilling for oil and gas near the Falkland Islands.

Thursday, April 16th 2015 - 08:57 UTC

British team recovers U$S50m trove of silver coins from sunken ship south of St Helena

The SS City of Cairo was torpedoed south of St Helena by a German U-boat and sank to 5,150m. The 100 tons of coins were recovered in the deepest salvage operation in history

A British-led team has recovered a $50m trove of silver coins that has lain on the seabed since the steamship carrying them from Bombay to England was sunk in 1942. The SS City of Cairo was torpedoed 772km south of St Helena by a German U-boat and sank to 5,150m. The 100 tons of coins, recovered in the deepest salvage operation in history, belonged to HM Treasury.

Tuesday, April 14th 2015 - 11:49 UTC

Falklands oil explorers replace costly drilling in the south-east basin

The Eirik Rude semi-submersible platform is currently drilling a second well at Isobel Deep in the north Falkland basin

Three oil explorers drilling in the Falkland Islands, including Houston based Noble Energy have shelved plans to drill a second well in the south and east Falklands following the steep drop in oil prices, one of the partners said on Monday. Partners, which also include London-listed Falkland Oil and Gas (FOGL) and Edison International, said they would continue drilling in other parts of the region.

Friday, April 10th 2015 - 07:14 UTC

Cuba and US hold historic meeting at highest level in Panama

Few details have emerged from the meeting between Kerry and Rodriguez. The last comparable event was in 1959, between Fidel Castro and  Richard Nixon.

US Secretary of State John Kerry and Cuban Foreign Minister Bruno Rodriguez have held talks, in the highest level meeting between the two countries in more than half a century. The two were involved in closed-door discussions after arriving in Panama for a summit.

Friday, April 10th 2015 - 05:26 UTC

Fitch Ratings lowered Brazil's investment grade outlook to negative

“Brazil's three-year growth average of only 1.5%, compared to the 'BBB' median of 3.2%, highlights the structural nature of the under-performance,”

Fitch Ratings lowered Thursday the outlook on Brazil's investment grade BBB rating to negative, warning that government efforts to turn around the economy risked getting derailed. The Brazilian economy, the world's seventh-largest, stagnated with just 0.1% growth last year as the drag of rising inflation erased the effect of hosting the football World Cup in June and July and gearing up for the Rio Olympics next year.

Friday, April 10th 2015 - 03:09 UTC

“UK has no doubt about sovereignty over the Falklands and Islanders right to decide their future”

“We object strongly to recent statements by the Argentine president and the Argentine ambassador to London, and so summoned the ambassador to account for these”

The UK Foreign Office summoned Argentine Ambassador Alicia Castro to object recent remarks regarding the Falkland Islands by President Cristina Fernandez and the diplomat based in London. An FCO spokesperson said that Britain has no doubt about its sovereignty over the Falkland Islands and surrounding maritime areas, nor about the Falkland Islanders' right to decide their own future.

Friday, April 10th 2015 - 03:06 UTC

Uruguay considering extending length of oil exploration contracts

“If we find oil, there is no possible scenario in which this could be profitable and be developed” said de Santa Ana, ANCAP exploration manager

Uruguay is considering extending the length of its oil exploration contracts with foreign companies drilling in its waters in order to shore up investment at a time of plunging crude prices, it said on Wednesday. BP, BG Group, Total, a joint venture of Tullow Oil and Inpex, and a consortium of YPF, Royal Dutch Shell and Galp all have exploration agreements and have invested around $2 billion to date.

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