Brazil's industrial production dropped in February after a momentary uptick at the beginning of the year, as factories and mines braced for what economists say could be the country's worst year in more than two decades.
Argentina, once a regional energy leader, is now better known for financial busts and bombastic politicians than hydrocarbons prospects. Still, with a resource potential both vast and untapped, the nation has never been far from energy investors' minds. The question today is just how much Argentina is willing to change and how this plays into a low oil price environment that is already negatively impacting investment elsewhere.
Falklands’ explorer Borders and Southern Petroleum PLC said this week its pre-tax loss widened in 2014 as costs increased, and admitted it has struggled to find a partner for the Darwin discovery to the south of the Falkland Islands, against a backdrop of reduced investment by companies caused by the fall in oil prices.
The Brazilian Petroleum Institute, or IBP, has called on the government to change the regulatory framework to deal with the crisis caused by the collapse of oil prices and the corruption scandal at state-controlled oil giant Petrobras.
Brazil's government will do whatever it takes to meet its 2015 fiscal target, President Dilma Rousseff said on Tuesday in an interview with Bloomberg News.