MercoPress. South Atlantic News Agency

Petrobras takes over Perez Companc

Brazilian oil company Petrobras announced this week an agreement to purchase a majority control of the Argentine energy consortium Pérez Companc. The operation involves 1,125 billion US dollars.

According to a release from company headquarters in Rio do Janeiro, "Petrobras will acquire 58,6% of the company's shares. The sum to be paid to the Pérez Companc family and foundation is a combination of 754 million US Dollars cash and 370 million US dollars in Petrobras bonds". The seven year bonds will yield 6% annually and can be traded as preferential Petrobras shares such as the American Depositary Shares in Wall Street. The deal with the Pérez Companc family and foundation includes the oil company Pérez Companc, the largest independent private energy consortium in Latinamerica that has interests in hydrocarbons production, transport and refineries, plus energy generation and transmission and petrochemicals. Pérez Companc leading offices are in Buenos Aires but the company also operates in Brazil, Venezuela, Bolivia, Peru and Ecuador. Petrobras underlined that the operation is in line with its international expansion strategy and the objective of becoming an integrated energy company, leader in South America.

Antarctic research in Punta Arenas

The Chilean Antarctic Institute will be moving to Punta Arenas in the coming months in time for the next season according to an editorial in the local press. "Following presidential orders, and in spite of growing resistance from the staff who do not wish to abandon Santiago, the Institute will finally be located in Punta Arenas", reported "Prensa Austral", adding that the decision to move south actually belonged to the previous Chilean president Eduardo Frei, following requests from the then Punta Arenas mayor, Ricardo Salles. "Punta Arenas is the gateway for the Antarctic continent and it's only natural that the administrative and scientific research activities be located in the Magallanes Region". The newspaper underlines that the Antarctic Institute will be moving south in spite of not having a definitive headquarters since the plots leased by Magallanes University several years ago, still haven't seen any buildings started. "Prensa Austral" recalls a similar encouraging experience when the Chilean government founded the Center for Scientific Studies in Valdivia, a more peaceful city by the sea where the necessary academic atmosphere has developed with unexpected success. "This project not only proved it was possible to decentralize scientific research, but also attract researchers to a Region that offers a better quality of life given all the crime, delinquency and pollution problems faced by the Santiago metropolitan area". "This is a wonderful news for Punta Arenas that longs to develop particularly in those areas with most promising potential", concludes the newspaper.