Falkland Oil and Gas Ltd. (FOGL) focused on exploration in areas to the South and East of the Falkland Islands reported on Tuesday that the well drilled at its Scotia prospect discovered poor quality hydrocarbons.
Paraguayan president Federico Franco announced on Monday that starting on 2013 the country will become an oil producing nation, after a recent discovery close to the border with Argentina.
Crude production from the Bakken and Three Forks formations in North Dakota could rise by another 50-100% in the next three years, and not start to decline until 2020 or even 2025, according to official projections from the North Dakota Oil and Gas Division.
Argentina suffered a stinging blow late Wednesday when New York federal judge Thomas Griesa, citing threats by the country's leaders to defy his rulings in a decade-old dispute over defaulted sovereign bonds, ordered immediate payment.
Spanish oil company Repsol has pressed charges against Chevron over “disloyal competition”, after the US company reached an agreement with its former Argentine branch YPF to conduct explorations in the Vaca Muerta reservoir, a company spokesman announced.
Repsol Chairman Antonio Brufau has expressed his determination to reach a solution on compensation for the nationalisation of its shares in YPF, and says that he is willing to take the matter to an international court level to ensure a fair amount is paid.
A top official from St Helena will be visiting the Falkland Islands next month to explore ways that the governments of the two British Overseas Territories can collaborate and looking ahead to when the mid Atlantic volcanic island will have an international airport.
A World Bank report released Tuesday found that Latin America and the Caribbean registered a 50% jump in the number of people joining the middle class during the last decade, which was called by economists an historic achievement for a region long exposed to wealth inequality.
International Airlines Group has reaffirmed that it would keep Vueling as a stand-alone entity within the group if it completes its plan to acquire the outstanding shares in the Barcelona-based low-cost carrier.
Chilean government owned oil and gas company, ENAP, described as ‘unacceptable’ British Gas announcement to GNL Chile that its will not comply with provision contracts next year.