Latin American oil and gas firm GeoPark Holdings Ltd announced this week it had successfully tested two new oil wells on the Fell Block, Springfield formation, Magallanes basin in the extreme south of Chile, bordering Argentina and the Atlantic access of the Magellan Strait.
The Euro risks falling apart unless Euro-zone member nations alter the way they tackle future debt crises, financier George Soros warned Monday in an article published in the Financial Times.
Argentine President Cristina Kirchner said on Monday Latin American and Caribbean leaders backed her objections to oil exploration in the disputed Falkland Islands as drilling of the first well began on Monday.
The International Monetary Fund, IMF suggested Uruguay should retake its most ambitious “fiscal objectives” in the coming five-year budget to be discussed this year by the new parliament. The emphasis should be in “restricting” outlays since the current level of salary increases for civil service is “not sustainable”.