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MercoPress, en Español

Montevideo, January 31st 2026 - 18:26 UTC

Economy

  • Friday, April 10th 2015 - 03:06 UTC

    Uruguay considering extending length of oil exploration contracts

    “If we find oil, there is no possible scenario in which this could be profitable and be developed” said de Santa Ana, ANCAP exploration manager

    Uruguay is considering extending the length of its oil exploration contracts with foreign companies drilling in its waters in order to shore up investment at a time of plunging crude prices, it said on Wednesday. BP, BG Group, Total, a joint venture of Tullow Oil and Inpex, and a consortium of YPF, Royal Dutch Shell and Galp all have exploration agreements and have invested around $2 billion to date.

  • Friday, April 10th 2015 - 03:03 UTC

    Argentina ordered to pay 405m dollars to nationalized Suez water works

    The French group released a short statement indicating it accepted the judgment and expressing its hope that Argentina complies with the compensation order.

    The World Bank's International Centre for Settlement of Investment Disputes (ICSID) has ordered Argentina to pay 405 million dollars to French company Suez, who saw their contract for water and drainage provision cancelled in 2006. The service had been privatized in the nineties during the presidency of Carlos Menem.

  • Friday, April 10th 2015 - 03:00 UTC

    Falklands' bumper year for Illex squid predicts fisheries scientist

    Illex squid catches caught this season are already 150,000 tons. Last year the fishery had a record catch of over 306,000 tons.

    The Falkland Islands are set to have another bumper year of Illex squid catches with 150,000 tons already caught this season. Last year the fishery had a record catch of over 306,000 tons. It is, “a record catch at this point in the season, at least in the last 25 years of the fishery” Senior Scientist at the Falkland Islands Fisheries Department Dr Sasha Arkhipkin, told Penguin News.

  • Friday, April 10th 2015 - 00:44 UTC

    Cristina Fernandez will visit his close new friend Putin on April 22/23

    Putin made an official visit to the Buenos Aires in July 2014, during which time the two countries signed energy and cooperation deals

    Argentine President Cristina Fernández will be heading to Moscow in just under two weeks upon invitation from Russian President Vladimir Putin to mark 130 years of diplomatic relations between the two countries. The announcement of the president’s 22/23 April visit to Russia came amid news that she would also visit Pope Francis in the Vatican on June 7.

  • Friday, April 10th 2015 - 00:25 UTC

    Five Falklands' oil companies accused of violating Argentine law and UN resolutions

    CFK accused the companies of “carrying out hydrocarbon exploration activities on Argentina's continental shelf without obtaining the corresponding authorization”

    Argentina's government on Thursday formally accused five oil companies of conducting illegal exploration work off the British-ruled Falkland Islands, which Buenos Aires claims as its own. The companies are Britain's Rockhopper Exploration plc, Premier Oil plc and Falkland Oil and Gas Ltd; Houston-based Noble Energy Inc.; and Italy's Edison International SpA, Argentina's Foreign Ministry said in a statement.

  • Thursday, April 9th 2015 - 07:01 UTC

    U.S. should back the Falkland Islanders’ Right of Self-Determination at the Summit of the Americas

    Like all of the other British Overseas Territories, the Falkland Islands have chosen not to be completely independent, but they are self-governing.

    By Luke Coffey and Nile Gardiner, Ph. D. (*)

    The Organization of American States (OAS) will hold the seventh Summit of the Americas in Panama City, Panama, on April 10–11, 2015. In the past, Canada has been alone in supporting the Falkland Islanders’ right of self-determination in the OAS.

  • Thursday, April 9th 2015 - 04:24 UTC

    Royal Dutch Shell buys BG Group for £47 Billion. Becomes main foreign oil producer in Brazil

    Ben van Beurden, CEO of Shell and Andrew Gould, Chairman of BG Group shake hands as Shell and BG their takeover deal at the London Stock Exchange

    Oil and gas company Shell has agreed to buy British rival BG Group for the equivalent of 70 billion dollars, making Europe's largest oil company the pre-eminent player in global natural gas and adding world-class fields in Brazil. The deal may signal a new wave of mega-mergers as the energy industry tries to adapt to lower prices.

  • Thursday, April 9th 2015 - 03:28 UTC

    Brazilian ruling coalition members sign letter pledging to support austerity package

    Rousseff's unruly coalition pledged in a letter to support her austerity package, a deal brokered by Vice President Michel Temer as the link between Executive and congress

    Brazilian congressional leaders within President Dilma Rousseff's coalition signed a joint letter on Wednesday pledging to support her austerity package, an unexpected sign that the ties with her unruly coalition are improving. The deal was brokered by Vice President Michel Temer on his first day as the official go-between tasked with mending Rousseff's tense relations with coalition lawmakers.

  • Thursday, April 9th 2015 - 02:45 UTC

    With the end of commodities prices 'super-cycle', UN panel lowers Latin American growth forecast to 1%

    Meanwhile, the end of the so-called “super-cycle” in commodity prices is affecting several countries in the region negatively.

    The Economic Commission for Latin America and the Caribbean (ECLAC) has revised downward its economic growth projection for the region in 2015, forecasting a 1.0% increase in the regional Gross Domestic Product (GDP), the United Nations organization said today in a press release.

  • Thursday, April 9th 2015 - 01:35 UTC

    Brazil inflation soars as electricity rates go up 22% in March and 60.42% in the last 12 months

    Housing costs rose 5.29% in March from February alone, pushed up by a 22% increase in electricity rates because of a severe drought affecting hydroelectric production

    Consumer prices in Brazil picked up in March, putting the 12-month rate at the highest level in more than eleven years, highlighting one of the main challenges facing Latin America's largest economy in the year ahead. The rolling 12-month IPCA was up 8.13% through March, up from 7.70% in February, remaining well above the central bank's 6.5% ceiling. In the first quarter of the year, prices have risen 3.83%, while the 12-month figure marked the highest level since December 2003, when it reached 9.30%.