Investments

Investments
Wednesday, December 31st 2014 - 05:18 UTC

Blackout for Paraguay's hydrocarbons hopes in Chaco drillings

Hydrocarbon flow testing has been hampered by mechanical failures due to poor hole conditions said chairman Peter Levine

President Energy slumped by as much as a third on Monday following an update on testing of the Silurian Santa Rosa and Devonian Icla reservoirs in the Lapacho well in Paraguay's Chaco. A test of Santa Rosa was cut short, although management reckons that it can be commercialized, and a test of Icla recovered only gas and no oil.

Wednesday, December 31st 2014 - 02:54 UTC

Russia's Gazprom takes 100% control of major international gas pipeline

Russian President Vladimir Putin announced the decision on Russia’s withdrawal from the project on December 1 while on visit to Turkey.

Russia’s gas giant Gazprom said in a release on Monday it had signed a deal with Eni, Wintershall and EDF on the purchase of 50% of shares in South Stream Transport BV. Thus, Gazprom will be a 100% owner of the company.

Wednesday, December 24th 2014 - 07:44 UTC

Foreign Ministers of Argentina, Chile sign additional protocols to Treaty of Maipu

Foreign ministers  Heraldo Muñoz and Hector Timerman signed new documents in proof of friendship never before seen between Argentina and Chile

Hector Timmerman, Heraldo Muñoz outline new phase in binational relationships. Transandean Train, Agua Negra and Las Leñas Paths to bring on significant progress.

Tuesday, December 23rd 2014 - 06:28 UTC

Groundbreaking of Chinese-backed Nicaragua Canal commences

The canal wiill have 172-mile (278-km) canal, due to be operational by around 2020,

Protesters, skepticism did not stop the administration of President Daniel Ortega. Project seeks to reshape country's poor economy,

Wednesday, December 17th 2014 - 12:59 UTC

Uruguay receives IDB credit to boost investment in renewable energies

A common sight in top hills of Uruguay, a display of wind turbines

As part of Uruguay long term plan to promote investment in infrastructure and finance investment in electric power plants using renewable energy resources, essentially wind and solar so as to diversify the country energy mix and cut CO2 emissions, the country will be receiving a 250 million dollar credit line from the Inter American Development Bank, IDB.

Wednesday, December 17th 2014 - 07:27 UTC

YPF money helps Repsol by over Canadian Talisman

Argentina's Economy Minister Axel Kicillof negotiated the expropiation of YPF, which helped Repsol finance the takeover of Canada's Talisman.

The largest international deal by a Spanish company in the last five years, props up shares despite plummetting international oil prices.

Saturday, December 13th 2014 - 04:37 UTC

Brazil confident since pre-salt oil is profitable 'even at 60 dollars a barrel'

“I don't know of any pre-salt project that cannot resist the 70 dollar or even the 60 dollar mark” said Ms Chambriard

The head of Brazil's National Petroleum Agency, Magda Chambriard said that the country's oil production projects remain 'robust' even as international prices for crude continue to tumble. She underlined that the pre-salt projects of Brazil along ist coast resist prices as low as 60 dollars a barrel.

Friday, December 12th 2014 - 21:49 UTC

Dutch oil platform leasing company cutting 11% of global workforce

“Although we regret losing some of our colleagues, we believe these steps are necessary to deliver value to our stakeholders”, CEO Bruno Chabas said

Dutch oil platform leasing company SBM Offshore is cutting 1,200 jobs, or slightly more than 11% of its global workforce, as part of a cost-saving program.

Thursday, December 11th 2014 - 12:04 UTC

Malaysia's Petronas and YPF sign 550 million deal to develop shale deposits in Patagonia

“In March 2015 the first of three annual phases for development of the La Amarga Chica bloc in Neuquen province will begin,” the statement said.

YPF SA and Petroliam Nasional Bhd, state-controlled companies from Argentina and Malaysia, signed a 550 million dollars deal to drill fields at the world’s fourth-largest shale oil deposit in Patagonia’s Vaca Muerta, south Argentina.

Tuesday, December 9th 2014 - 07:18 UTC

Chile plans to build a new icebreaker and has earmarked an initial 150 million

Chile's current icebreaker “Almirante Oscar Viel” is coming to the end of its service life. Built in 1969 it belonged to the Canadian Navy

Chile is planning a strong expansion of its Antarctic and maritime support vessels as well as a major repair yard, according to a recent pledge by President Michelle Bachelet during the opening of the Exponaval and Trans-Port exhibitions in Valparaiso and Viña del Mar.

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