Investments

Thursday, October 3rd 2013 - 06:54 UTC
Russian oil giant wants to sell stake in Orinoco project and get out of Venezuela

Lukoil, Russia's second-biggest oil producer wants to sell its stake in a Russian consortium developing a large oil project in Venezuela because it is not a high priority, Lukoil's head said on Wednesday.
Wednesday, October 2nd 2013 - 22:51 UTC
Brazil oil and gas output reached an average of 2.495 million boepd during August

Brazil's oil and natural gas output rose for the second time in three months in August as new output from giant offshore fields barely outpaced declines from the depletion of older areas and maintenance, oil industry watchdog ANP said this week.
Wednesday, October 2nd 2013 - 07:47 UTC
German premium automakers dispute Brazilian market: Mercedes plans factory in Sao Paulo

Germany's Daimler plans to build a new car factory in Brazil, becoming the third German premium automaker to announce such plans within the past year. The company announced it would invest around 170 million Euros to set up a shop in Iracemapolis, near Sao Paulo.
Tuesday, October 1st 2013 - 06:46 UTC
Cristina Fernandez and Mujica in a prudent silence over the pulp mill controversy

Argentine President Cristina Fernández met on Monday with her Uruguayan counterpart José Mujica after the pair inaugurated a new vessel belonging to the ferry company Buquebús, (which joins Montevideo with Buenos Aires), in order to discuss matters related to the controversial UPM pulp plant formerly known as Botnia.
Monday, September 30th 2013 - 22:06 UTC
Barrick Gold Pascua-Lama project again running after court ruling

Chile's Supreme Court confirmed a freeze on Barrick Gold Corp's suspended Pascua-Lama gold mine but the Toronto-based miner escaped having the project's environmental permit revoked. The ruling dispels a significant uncertainty surrounding the controversial project, which now essentially has to complete a water management system issued by the environmental regulator to likely be re-activated.
Monday, September 30th 2013 - 21:40 UTC
The Shale Boom, Just Getting Started: Interview with Tyler Cowen

Thanks to the shale boom, markets already perceive the trade balance optimizing, energy prices are cheaper than they would otherwise be and we've even cut carbon emissions. And we are only getting started, according Tyler Cowen, New York Times best-selling author and one of the most influential economists of the decade.
Saturday, September 28th 2013 - 05:08 UTC
Petrobras makes ‘beautiful’ discovery and generates a new promising oil province

Brazil's Petrobras and its Indian partners have made a “beautiful” oil discovery off Brazil's northeast coast, Sergipe-Alagoas basin, and it will produce a minimum 100,000 barrels of petroleum a day starting in 2018, the company's CEO said on Friday.
Friday, September 27th 2013 - 22:01 UTC
Mujica inclined to support UPM pulp production expansion but conditioned to environment improvements

Uruguay’s president Jose Mujica anticipated that his intention is to authorize the UPM pulp mill to expand production, as the Finnish company had requested, but conditioned to certain additional environmental measures, which will not be made public until talks with Argentine president Cristina Fernandez on Monday.
Friday, September 27th 2013 - 08:04 UTC
Pulp mill UPM waiting for a reply from Mujica on its production expansion request

Uruguay’s largest pulp mill UPM announced that it will be making final checks of the plant’s equipment in the rest of the week, following on annual maintenance work, but production is not scheduled to resume until the Finnish company receives a reply from President Jose Mujica regarding the output expansion request.
Thursday, September 26th 2013 - 05:58 UTC
Brazil’s development bank ‘overbooked’ needs support from the private sector

The Brazilian state development bank BNDES is “overbooked” and needs the private sector to step up funding in investments, according to bank president Luciano Coutinho. Lending by BNDES and other public banks has increased six times faster than credit by non-state bank this year, as the government tries to fuel economic growth.