Noble Energy Inc. (NBL) unveiled a discovery in the Big Bend exploration area in the Gulf of Mexico as it also abandoned another well off the shore of the Falkland Islands that yielded a low-quality reservoir.
Global growth is set for a sharp slowdown next year and the Euro zone debt crisis “remains the greatest threat to the world economy at present,” the OECD warned on Tuesday. In its latest Economic Outlook the OECD also cautioned that “the risk of a new major contraction cannot be ruled out” after a global slump in 2009.
Economy Minister Hernan Lorenzino described the appeal presented on Monday by Argentina against the ruling of New York Judge Thomas Griesa as “very forceful”, and pointed out that if the magistrate had proposed to treat hedge funds demands under the terms of the 2010 debt-swap, the Argentine congress might then address the option.
Thousands of people took to the streets in Rio do Janeiro on Monday to urge Brazilian President Dilma Rousseff to veto a bill that local officials say could cost Rio state billions of dollars in lost oil revenue, and cripple plans to host the World Cup and Olympics.
Falkland Oil and Gas Ltd. (FOGL) focused on exploration in areas to the South and East of the Falkland Islands reported on Tuesday that the well drilled at its Scotia prospect discovered poor quality hydrocarbons.
Investors holding 1 billion dollars worth of restructured Argentine debt said they also appealed to US District Judge Thomas Griesa’s ruling that they fear would trigger another default and prevent them from being paid principal and interest due on their bonds next month.
Paraguayan president Federico Franco announced on Monday that starting on 2013 the country will become an oil producing nation, after a recent discovery close to the border with Argentina.
Brazil’s low-cost airline Gol announced that it is eliminating the WebJet brand, the rival airline that it took over earlier this year, cutting 850 jobs and reducing domestic capacity in the process.
The European Union, United States and Japan presented a formal complaint before the World Trade Organization questioning the legitimacy of some measures adopted by Brazil to protect domestic manufacturing, particularly in the auto industry.
Argentine ambassador Alicia Castro rejected at the International Maritime Organization, IMO, British complaints on maritime security in Argentine waters and navigation obstacles for British and Falklands flagged vessels which access Argentine ports.