Brazil's government oil corporation Petrobras has plans to invest 2 to 3 billion US dollars to begin prospecting in the giant deposit of Tupi which has recoverable reserves in the range of 5 to 8 billon barrels of crude and natural gas.
Warming seas, over-fishing and pollution mean it is vital to improve the system for monitoring the world's oceans, says a group of distinguished scientists. The researchers say more data is needed to ensure the world is able to respond effectively to any potential threats.
A day after Venezuelan president Hugo Chavez admitted he could loose next Sunday's referendum to reform the constitution, a public opinion poll confirmed that those voting NO are well ahead of those who support the package or reforms.
Australia's Labor leader Kevin Rudd, a Mandarin speaking former diplomat, swept into power at a national election Saturday on a wave of support for generational change, ending 11 years of conservative rule.
The last of the passengers and crew rescued from the Antarctic waters stranded and later sank cruise vessel Explorer arrived on Sunday just after midday in Punta Arenas in the extreme south of Chile.
They feared they were going to an icy grave - but the survivors of the Antarctic cruise ship sinking were yesterday all glad to be alive.
Argentina is assessing the environmental impact of the wrecked Liberian flagged Canadian cruiser Explorer and will closely monitor events as well as demand stricter conditions for cruise operators in Antarctic waters.
Argentina's elected President Cristina Fernandez de Kirchner confirmed that foreign policy is going to be one of the pillars of her administration and rejected the idea that closeness to Brazil means taking distance from Venezuela.
The assembly charged with rewriting Bolivia's constitution and meeting in Sucre produced a new constitutional draft on Saturday amid violent street protests in which at least three persons were killed.
Colombian President Alvaro Uribe has said he is ready to continue a constructive dialogue with his Venezuelan counterpart Hugo Chavez after Bogota stopped the latter in his mediation bid with the Revolutionary Armed Forces of Colombia (FARC) insurgents for release of hostages.