Argentina's YPF increased oil and gas production by around 9% in January, continuing a trend that began in mid-last year in which the state-controlled firm reversed long-standing production declines. And while the rest of the sector continued to lag behind, oil production at least did experience a monthly increase, suggesting that YPF’s increases in output are starting to have a positive effect on the sector as a whole.
Venezuela has geared up for commemorations of populist leader Hugo Chávez's death despite continued protests against his successor that have shaken the OPEC member and threatened the legacy of El Comandante.
By Alicia Castro, Argentine ambassador in London - Ms Castro writes a column in The Guardian to complain about the appointment of Colin Roberts as the next Falkland Islands governor and unearths some Wikileaks cables referred to the incoming governor's attitude regarding the Chagos islanders forced eviction, and plans to ensure they will never be returned by declaring the vast area a 'marine park' allegedly questioned by US diplomacy.
The International Monetary Fund lowered its forecast for economic growth in Uruguay this year to 3% from its previous estimate of 3.3%, the IMF's deputy managing director said on Friday in Montevideo. Naoyuki Shinohara told reporters that the revision is due to lower growth expected in Uruguay's neighbors Argentina and Brazil and lower prices for commodities and Uruguayan exports.
The Argentine government has suspended dialogue with Iran, heralding a shift in policy that coincides with improved relations with Israel that includes a visit this month by Prime Minister Benjamin Netanyahu.
Veteran New York Times reporter and columnist, Roger Cohen, who on several occasions has visited Argentina recently called at Ushuaia. He wrote the following piece, which is not very enthusiastic about the current situation or the heavy burden of populist history in one of the richest countries of the world.
Australia's Petrel Energy has confirmed the conventional oil reservoir potential of the San Gregorio and Cerrezuelo sandstones in Uruguay following detailed analysis of the Cardozo Chico core-hole samples. Petrel said that laboratory testing undertaken by Weatherford in Houston returned excellent permeability and porosity measurements.
The Falkland Islands Government PR & Media Office is running a photo competition to source quality images of 'our beautiful home'. The winning photos will be printed and displayed at a central London gallery later this year to promote the stunning views, wildlife, history and community that make the Falkland Islands a truly unique place.
Euro zone inflation stabilized in what the European Central Bank has called the danger zone in February, data showed on Friday, while unemployment remained stuck near record highs ahead of an ECB policy meeting next week.
The US government slashed its estimate for fourth-quarter growth as consumer spending and exports were less robust than initially thought, leaving the economy on a more sustainable path of modest expansion. GDP expanded at a 2.4% annual rate, the Commerce Department said on Friday.