The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of Oct. 17, compared to the prior week. There are now 1,590 active oil rigs, the lowest level in six weeks.
Incumbent President Dilma Rousseff pulled ahead again in a new poll ahead of Brazil's presidential election and she appears to be the favorite to win Sunday's runoff although the vote is still too close to call.
The last round of public opinion polls in anticipation of Uruguay's Sunday general election (Executive and legislative), released on Wednesday evening by the main television channels, shows that the next government will not enjoy a majority in congress and there will be a presidential runoff at the end of November.
French oil major Total appointed on Wednesday refining head Patrick Pouyanne as chief executive and former CEO Thierry Desmarest as non-executive chairman. The nominations at the head of the world's fourth-largest integrated oil company came less than 48 hours after the brutal death of Chairman and CEO Christophe de Margerie in a plane crash in Moscow.
Uruguayan president Jose Mujica said that the people who like money too much must be kicked out of politics because they are a 'real danger' and can get confused with what is the prospect of a good government, and make citizens non believers in the system.
A U.S. appeals court on Wednesday dismissed the Argentine government's appeal of an order directing Bank of New York Mellon Corp to hold onto 539 million dollars the country deposited for its restructured bondholders.
Brazilian presidential opposition candidate Aecio Neves insisted that if elected he will review Mercosur rules and make them more flexible so that the country can reach bilateral agreements with third parties and not limited by the consensus clause of the trade block. He also mentioned the Pacific Alliance as a pragmatic integration reference.
Argentina's head of the tax office, Ricardo Echegaray admitted 'business links' between president Cristina Fernandez and businessman Lazaro Baez, who has been accused of money laundering and falsifying documents.
Tata group's Jaguar Land Rover established its first overseas manufacturing unit in China this week. The facility is the first joint venture between British auto maker Jaguar Land Rover and Chinese automotive company Chery Automobile Company Ltd.
Spain’s Minister for Foreign Affairs, Jose Manuel Garcia-Margallo, said he was “absolutely convinced” that the British Government backed Spain’s bid to join the UN Security Council as a non-permanent member.