Oil firms operating in Argentina celebrated a law passed this month to transfer property of hydrocarbons from the nation to provinces, saying that it will foster legal security and investments. But critics say that it will do nothing but atomize control over oil and gas exploration and exploitation.
Argentina is facing a severe energy shortage that many experts blame on the lack of investments since the 2001-2002 economy crisis and despite GDP has grown at about nine percent over the last four years.
South African Airways (SAA) next July will return to Argentina ÃÂ¢€ a market it stopped serving in 2001 partly due to high-operating costs at Buenos Aires' Ezeiza international airport ÃÂ¢€ with three flights a week, and increase weekly flights to Sao Paulo from seven to 10, to have a dual gateway to South America.
The latest in a string of international happiness surveys shows that 66% of Chileans describe themselves as happy or very happy ÃÂ¢€” yet they are less happy than people in almost every other Latin American country.
Uruguay confirmed Monday it would willingly withdraw military personnel stationed in the perimeter of the Botnia-Orion pulp mill under construction, following a request from the Finnish company.
Chile and the Great Britain agreed Monday to set up permanent high level political dialogue and increase bilateral cooperation between the two countries. Collaboration will focus on energy, environmental and social issues.
Norway's leading hydrocarbons' company Statoil ASA announced Monday the acquisition of Hydro oil and gas ASA creating the world's largest offshore operator. The new company will have a combined production of 1.9 million barrels per day in 2007 and proven oil and gas reserves of 6.3 billion barrels of oil equivalents.