Investments

• Tuesday, June 30th 2015 - 06:14 UTC

  Petrobras drastically cuts investment by 37% in next five years

  

  State-controlled oil giant Petrobras, which is mired in a corruption scandal that has rocked Brazil, said Monday it was cutting investment by 37% during the 2015-2019 period. Investment during the period will now total $130.3 billion, down from the $220.6 billion originally planned, Petrobras said in a filing with the Sao Paulo Stock Exchange.

• Tuesday, June 30th 2015 - 05:16 UTC

  Argentina's threat against Falklands' oil companies with no impact on markets

  

  The Argentine court order that assets of several international oil companies drilling for oil in the Falkland Islands be seized has caused mild turbulence in their share prices. Tierra del Fuego judge Lilian Herraez ordered the authorities to seize bank accounts, boats and other assets worth an estimated US$156mln.

• Monday, June 29th 2015 - 06:08 UTC

  Loathed at home, Dilma Rousseff tries to rebuild image among US investors

  

  Brazil's President Dilma Rousseff met Sunday with investors in New York on the first day of a long-delayed US visit aimed at overcoming strains caused by the NSA spying scandal. Revelations two years ago that the US National Security Agency electronically eavesdropped on Rousseff's email and other communications prompted her to angrily call off an official visit to Washington that had been set for October 2013.

• Friday, June 26th 2015 - 06:23 UTC

  Petrobras bribery case reaches US courts on investors' class action lawsuit

  

  Brazil's state-run oil company Petrobras urged a U.S. judge on Thursday to throw out an investors' class action lawsuit claiming a multibillion-dollar bribery scandal overvalued it for years. Speaking at a hearing in federal court in New York, Petrobras lawyer Roger Cooper said the company itself was a victim of the fraud, which he said was orchestrated by a handful of individuals.

• Wednesday, June 17th 2015 - 04:38 UTC

  Falklands have a bright future and Islanders the resolve to face harassment and bullying

  

  The Falkland Islands have a bright future, not without challenges, or harassment or bullying, but the Islanders will face them with the same strength, tenacity and resolve that helped them through the conflict 33 years ago, said Foreign Office minister Hugo Swire at the annual Falklands' Government Reception in London.

• Tuesday, June 16th 2015 - 00:40 UTC

  Falklands' rig drilling to the south east of the Islands at Humpback prospect

  

  Falkland Oil & Gas Ltd. said on Monday that drilling had started at the Humpback exploration well off the south-east coast of the Falkland Islands. The spudding of the well actually took place last Saturday.

• Friday, June 12th 2015 - 06:14 UTC

  Guyana turning to United Nations to address Venezuela's territorial ambition

  

  Guyana is turning to the United Nations to reach a legal settlement in its border dispute with Venezuela, describing Caracas’ claim of a portion of maritime space where oil was recently discovered as “a baseless and shameless attempt” at usurping Guyana’s territory.

• Wednesday, June 10th 2015 - 06:04 UTC

  Brazil launches ambitious $64bn infrastructure package to prop the economy

  

  Brazil announced a $64 billion infrastructure spending package on Tuesday, hoping to revive its flagging economy with investment in highways, railroads, ports and airports. Businesses and analysts have long pointed to overburdened infrastructure as a drag on the world's seventh-largest economy, which pays high prices to ship the raw materials it exports.

• Saturday, June 6th 2015 - 09:46 UTC

  Falklands oil companies planning to continue drilling into next year

  

  Falkland Oil and Gas plans to continue drilling into next year, its chief executive said, defying legal threats made by the Argentine government against oil explorers in the Falkland Islands.

• Wednesday, June 3rd 2015 - 09:24 UTC

  Falklands advances despite Argentine disruption and blockade efforts, says Acting Governor Sandra Tyler-Haywood

  

  Falkland Islands' Her Honour the Acting Governor delivered on Tuesday his State of the Nation speech to the elected Legislative Assembly underlining progress and expansion achieved in the economy and community development, the UK resolute in defending the rights and wishes of the Falkland Islanders to develop their own natural resources, and despite Argentine disruption and blockade efforts, first oil is expected to be produced in 2019.