Investments

Wednesday, March 5th 2014 - 04:52 UTC
China buys majority stake in Nidera as part of its investment in food assets

China's State-owned Chinese food giant Cofco Corp. on Friday announced it was buying a 51% stake in closely held grains trader Nidera NV. By investing in Dutch Nidera, Cofco--China's largest stated-owned grain trader-- would have greater control over pricing as well as better access to major grain-growing regions, such as Latin America and Russia.
Saturday, March 1st 2014 - 05:12 UTC
Uruguay approves IMF test, but inflation and the neighbors could bring surprises

The International Monetary Fund lowered its forecast for economic growth in Uruguay this year to 3% from its previous estimate of 3.3%, the IMF's deputy managing director said on Friday in Montevideo. Naoyuki Shinohara told reporters that the revision is due to lower growth expected in Uruguay's neighbors Argentina and Brazil and lower prices for commodities and Uruguayan exports.
Saturday, March 1st 2014 - 02:29 UTC
Core-hole confirms conventional oil reservoir potential in north Uruguay

Australia's Petrel Energy has confirmed the conventional oil reservoir potential of the San Gregorio and Cerrezuelo sandstones in Uruguay following detailed analysis of the Cardozo Chico core-hole samples. Petrel said that laboratory testing undertaken by Weatherford in Houston returned excellent permeability and porosity measurements.
Saturday, March 1st 2014 - 02:24 UTC
Euro-zone inflation stabilized at what central bank calls 'danger zone'

Euro zone inflation stabilized in what the European Central Bank has called the “danger zone” in February, data showed on Friday, while unemployment remained stuck near record highs ahead of an ECB policy meeting next week.
Wednesday, February 26th 2014 - 23:04 UTC
Falklands/Malvinas: Argentina has “no conflict hypothesis” says Defense head

Minister of Defense Agustín Rossi said Argentina has no “conflict hypothesis” regarding the Falklands/Malvinas Islands, strongly denying statements from a British newspaper which argued the UK was closely monitoring Argentina's investment in military procurement.
Wednesday, February 26th 2014 - 07:03 UTC
Britain's oil and gas industry faces 'biggest challenge in 50 years' because of low level of exploration

Britain's oil and gas industry has warned it faces its “biggest challenge in 50 years” due to the low levels of exploration. Industry body Oil and Gas UK said only 15 wells were drilled last year. That was despite strong levels of investment, reaching a record last year and sustained this year.
Tuesday, February 25th 2014 - 20:43 UTC
Repsol board approves the YPF compensation deal worked out with Argentina

Spanish oil major Repsol's board approved on Tuesday in Madrid a definitive 5 billion dollars settlement from Argentina over assets seized in 2012, drawing a line under a two-year battle for compensation.
Tuesday, February 25th 2014 - 04:41 UTC
Falklands oil company completes 3D survey; prepares drilling program for next year

Falkland Oil and Gas Ltd, FOGL, announced on Monday the completion of its 3D seismic survey offshore the Falkland Islands. This is the third and final 3D survey prior to the next drilling program, which is expected to commence in early 2015, said the company in a release.
Tuesday, February 25th 2014 - 04:29 UTC
ENAP Magallanes begins production at new well; company's profits soar in 2013

Chile's state-owned oil and gas company ENAP successfully put into production the well “Paraguaya 2” at Intracampos Block (100% ENAP) in Tierra del Fuego, with an initial flow rate of 160 cubic meters per day of oil, equivalent to 1,006 barrels.
Monday, February 24th 2014 - 22:28 UTC
Brazil and EU agree to lay an undersea cable to avoid US internet surveillance

Brazil and the European Union agreed on Monday to lay an undersea communications cable from Lisbon to Fortaleza to reduce Brazil's reliance on the United States after Washington spied on Brasilia.