Investments

Thursday, November 16th 2017 - 09:08 UTC
Russia gives Venezuela a hand and restructures US$ 3.15bn debt over a 10-year period

Russia and Venezuela signed a debt restructuring deal on Wednesday allowing Caracas to make “minimal” payments to Moscow in the next six years to help it meet obligations to other creditors, the Russian Finance Ministry said. Under the deal, Venezuela will pay Russia back a total of US$ 3.15 billion over a 10-year period, the ministry said.
Thursday, November 16th 2017 - 08:39 UTC
China and Chile agree to upgrade trade accord to take advantage of new technologies

China and Chile have agreed to upgrade their free trade agreement (FTA), a move that will boost both economies, a former official of the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) said.
Wednesday, November 15th 2017 - 11:45 UTC
US cements position as the world's largest oil and gas producer

International energy markets are set for “major upheaval” as the US cements its status as the world's largest oil and gas producer, while China overtakes it as the biggest oil consumer. The predictions come from the International Energy Agency's annual energy forecast.
Monday, November 13th 2017 - 23:58 UTC
Private construction and infrastructure boosting Argentina's steel industry

Argentina's Acindar steelmaker is currently working at 70% of its installed capacity, which is 1.7 million metric tons of crude steel and 1.4 million mt of finished steel. In 2016, Acindar produced 962,000 mt of steel products. Expectation for 2017 is that it will reach 1.1 million mt, resuming good levels for the company.
Saturday, November 11th 2017 - 08:55 UTC
YPF will relocate investment from natural gas to crude oil, because of changes in subsidies policy

Argentina's state-run oil company YPF is “disappointed” by cuts to the government's natural gas production subsidies and will re-allocate investment toward crude oil production.
Friday, November 10th 2017 - 17:59 UTC
Trump doesn't blame China for its trade surpluses: “they work for the benefit of their citizens”

President Donald Trump has said he does not blame China for the “unfair” trade relationship between the countries, despite long railing against the economic imbalance. Speaking in Beijing, he gave China “credit” for working to benefit its citizens by taking advantage of the US.
Wednesday, November 8th 2017 - 18:11 UTC
Petrobras looking to sell its African oil exploration venture

Brazil’s Petrobras on Tuesday revealed plans to sell its stake in an African oil exploration venture as part of a wider divestment plan. The state managed oil company is looking to sell its 50% stake in Petrobras Oil & Gas BV, or Petrobras Africa.
Wednesday, November 8th 2017 - 07:35 UTC
Finnish company sets out conditions for the building of a second pulp mill in Uruguay

Finland's UPM and the Government of Uruguay have signed an investment agreement, which outlines the local prerequisites for a potential pulp mill investment. The agreement details the roles, commitments and time-line for both parties as well as the relevant items to be agreed prior to the final investment decision, reported the Finnish company in a release on Tuesday.
Wednesday, November 8th 2017 - 05:17 UTC
Nidera Seeds, which operates mostly in Latin America, sold to Syngenta

Chinese grains trader COFCO International has agreed to sell its crop seeds business to Swiss-based Syngenta AG as it overhauls its activities following a series of major overseas acquisitions The deal to sell Nidera Seeds, which operates in Latin America, was announced by COFCO International and Syngenta in a statement on Monday.
Wednesday, November 8th 2017 - 05:06 UTC
Mexico strikes its biggest onshore oil discovery in 15 years; production should begin in 2019

Mexico’s national oil company Pemex has made its biggest onshore oil discovery in 15 years with a find in the eastern state of Veracruz, President Enrique Peña Nieto announced. Pemex made the discovery by drilling its onshore Ixachi well, near the municipality of Cosamaloapan and the overall field is believed to hold some 350 million barrels of proven, probable and possible reserves.