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Stories for August 12th 2014

• Tuesday, August 12th 2014 - 06:36 UTC

  Uruguay wants Unasur to reach a consensus position of Gaza Strip conflict

  

  Uruguay will ask fellow members at the Unasur summit to be held in Montevideo later in the month to discuss the Gaza Strip situation, said Foreign minister Luis Almagro who next week will be meeting a delegation from the Palestine Authority. Almagro and president Jose Mujica have been questioned for using the words 'genocide' and 'massacre' to describe the Israeli offensive in Gaza.

• Tuesday, August 12th 2014 - 06:24 UTC

  Petrobras earnings down 20%; subsidized fuels strangling the company

  

  Second quarter profits for Brazil's Petrobras dropped 20% compared to the same period one year earlier, the state-run oil giant said. Petrobras recorded profits of 4.96 billion Reais (about 2.22 billion dollars) in the quarter, compared to 6.2 billion Reais (nearly 3 billion) for the same period in 2013.

• Tuesday, August 12th 2014 - 06:10 UTC

  Venezuelan oil company begins operations with China’s Citic Bank

  

  Venezuela’s state-run oil company PDVSA has started using China Citic Bank to collect money from crude and fuel sales instead of Portugal’s Banco Espirito Santo, according to media reports in Caracas.

• Tuesday, August 12th 2014 - 06:05 UTC

  Mexico signs energy reform bills: now to wait for interested private companies

  

  Mexican President Enrique Peña Nieto signed on Monday a package of landmark energy reform bills, ending the 76-year-old state monopoly on oil drilling and reopening the sector to foreign companies.

• Tuesday, August 12th 2014 - 05:44 UTC

  Brazilian government anticipates 6% hike in fuel prices, after October election

  

  Brazilian president Dilma Rousseff admitted on Monday the government could increase domestic fuel prices at refineries by up to 6% after the October presidential election. The increase of 5.5% and 6% is a preliminary calculation and is geared to help prop the finances of the government managed oil and gas giant Petrobras.