Investments

Investments
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.

Friday, May 23rd 2014 - 23:50 UTC

Argentina with 'Vaca Muerta' won the 'geological lottery': 305 meters-thick shale oil and gas

Chevron Kent Robertson has only words of praise for the development prospects of Vaca Muerta

Argentina has won the “geological lottery” with its 305 meters-thick Vaca Muerta shale oil and gas field in Patagonia, a spokesman for Chevron said on Thursday, as the U.S. energy giant increases its investments in the country. The company and state-owned oil firm YPF announced plans last month to invest an additional 1.6 billion to develop Vaca Muerta.

Friday, May 23rd 2014 - 23:38 UTC

Bye, bye Argentina: Spain's Repsol sells all assets and end operations in the country

Cristina Fernandez seized a majority of assets in Repsol's YPF in 2012 and two years later reached a compensation deal

Spanish oil company Repsol has ended its operations in Argentina, two years after the government seized its assets. Last month the Argentine congress gave final approval to pay 5bn dollars in compensation for Repsol's stake in Argentine oil firm YPF.

Friday, May 23rd 2014 - 10:45 UTC

YPF discovers shale in Chubut province, 1.000 km southeast of Vaca Muerta

Vaca Muerta shale is attracting oil and gas investors from around the world

At least 15 more shale oil and gas wells will be drilled in Argentina's Patagonia Chubut province over the next three years, a provincial official said on Thursday, a day after its first shale discovery was made public.

Thursday, May 22nd 2014 - 08:53 UTC

Chile to Host 5th Edition of the Global Mining Technology Forum

The 5th Annual Global Mining Technology Forum will be held in October 2014 in Santiago to discuss the mining industry's way forward in technology adaptation. Fleming Gulf Conferences has announced that the 5th edition of it's flagship mining conference will take place in October 2014 in Santiago, Chile.

Thursday, May 22nd 2014 - 07:40 UTC

Falklands’ Premier and Noble have contracted a rig, according to Norwegian energy website

According to Offshore.no, the Eirik Raude rig will earn as much as 500.000 dollars per day.

Ocean Rig has reportedly received a contract for its Eirik Raude semi-submersible rig for a drilling campaign in the Falkland Islands. According to Offshore.no, a Norwegian energy news website, the rig will be used by Noble Energy and Premier oil for their respective drilling campaigns in the Falkland Islands waters in 2015

Wednesday, May 21st 2014 - 07:15 UTC

Rousseff ‘guarantees’ Brazil’s airports will be prepared to welcome World Cup visitors

“We are going to welcome everyone extremely well, and Brazilians will be able to be proud of the Brazil we are building”

President Dilma Rousseff has “guaranteed” Brazil's airports will be prepared to welcome visitors for the World Cup, which starts on June 12 in São Paulo. Rousseff made the comments on her weekly ''Breakfast with the President'' national radio program following criticism that a number of airports which were promised to be completed for the key football tournament remain unfinished.

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