Wednesday, June 4th 2014 - 20:26 UTC

Falklands' welcomes rig-contract which marks beginning of oil drilling season in first quarter of 2015

“FIG looks forward to working closely with the oil industry to deliver a safe and successful campaign”, said Luxton

The Falkland Islands Government welcomed the announcement on Thursday morning that a drilling rig has been contracted by a consortium of licensees for a new six-well program of offshore exploration and appraisal work commencing in early 2015.

Wednesday, June 4th 2014 - 09:03 UTC

Timid S&P ignores Moody's and leaves Uruguay' risk rating unchanged

Uruguay with a small and open economy is exposed to vulnerabilities emerging from a region which is “experimenting economic stress”

Standard & Poor's (S&P) decided on Tuesday to maintain Uruguay's sovereign debt risk rating unchanged at the lowest investment grade BBB-, because although it has solid growth prospects, predictable policies and a favorable debt profile, the country still has limited fiscal and monetary flexibility and lives in a neighborhood experimenting 'economic stress'.

Wednesday, June 4th 2014 - 08:58 UTC

Mexico's Pemex sells its majority stake in Repsol over management disputes

The Mexican government wanted Brufau ousted of his leading post

Mexico's state-owned oil giant Pemex has sold the majority of its stake in Spanish energy firm Repsol for approximately 2.2bn Euros with the intervention of Citigroup and Deutsche Bank. Pemex has been a shareholder in Repsol for more than 25 years.

Tuesday, June 3rd 2014 - 06:03 UTC

With help from FIFA, the stadium opening the World Cup approved the test

Itaquerao or the Corinthians Arena will host the opening match of Brazil with Croatia on June 12

A less-than-capacity crowd at Sunday’s final World Cup test event at the Itaquerao venue in Sao Paulo means it will host a full crowd for the first time at the tournament opener.

Saturday, May 31st 2014 - 07:55 UTC

The 'morality' of the Argentina/Paris Club deal is that it's 'a shared effort'

“We have agreed on minimum payments that will increase if new investments come to Argentina, said Kicillof

Argentina's Economy minister Axel Kicillof gave details on Friday of the payment agreement reached with the Paris Club involving 9.7bn dollars of 2001 defaulted debt, which will open the doors to export credit agencies from the group's members and equally important signals a new attitude from the Cristina Fernandez administration.

Saturday, May 31st 2014 - 07:03 UTC

US Chamber of Commerce delegation on potential business tour of Cuba

“We are learning a lot about the changes taking place in Cuba,” said Mr. Donohue

A delegation from the American Chamber of Commerce has begun its first visit to Cuba in 15 years. Chamber president Thomas Donohue said he was in Cuba to assess the economic changes taking place under President Raul Castro.

Saturday, May 31st 2014 - 06:25 UTC

Hedge funds' lobby praise Argentina/Paris Club deal; calls for talks with private creditors

“We urge that the Argentine government to continue on this path of negotiation, normalization and settlement,” said Shapiro

Following Argentina's agreement to resolve its 9.7bn debt to Paris Club member nations within five years, American Task Force Argentina co-chairs Robert Shapiro and Ambassador Nancy Soderberg have declared their support for Argentina's pledge to act responsibly and encouraged the Argentine government to go further.

Saturday, May 31st 2014 - 06:08 UTC

Uruguay's FDI equivalent to 5% of GDP and mostly in alternative energies, said Eclac report

Several wind farm projects should increase Uruguay's energy capacity by 550MW

Foreign direct investment in Uruguay totaled 2.79bn dollars last year, which is slightly higher than the 2.68bn of 2012, equivalent to 5% of GDP, according to the latest report on FDI for the region from the UN Economic Commission for Latin America and the Caribbean.

Tuesday, May 27th 2014 - 11:01 UTC

Brazil considering proposals to open operatorship of pre-salt projects

Brazilian officials realize Petrobras needs help with finances and technology on developing the pre-salt resources

Brazil's government is considering proposals to open operatorship of its pre-salt projects to companies other than state-run Petrobras and this change might be made, Mayer Brown partner Alexandre R. Chequer told the law's firm's annual energy conference in Houston last week.

Saturday, May 24th 2014 - 00:37 UTC

The California shale bubble just burst

Santa Cruz county and Los Angeles banned fracking

The great hype surrounding the advent of a shale gas bonanza in California may turn out to be just that: hype. The U.S. Energy Information Administration (EIA) – the statistical arm of the Department of Energy – has downgraded its estimate of the total amount of recoverable oil in the Monterey Shale by a whopping 96%. Its previous estimate pegged the recoverable resource in California’s shale formation at 13.7 billion barrels but it now only thinks that there are 600 million barrels available.


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