Investments

Saturday, August 31st 2013 - 15:27 UTC
Uruguay fearing the wrath of Cristina Fernandez denies authorization to expand pulp mill capacity

The Uruguayan government fearful of Argentine President Cristina Fernandez’s reaction will not authorize the local UPM pulp mill to expand its production capacity from 1 million to 1.3 million tons annually, in the short term, according to company and government sources.
Saturday, August 31st 2013 - 00:44 UTC
Falklands’ first oil delayed as cost alternatives are considered

Premier Oil exploring for oil in the Falkland Islands said the company is studying cost alternatives to its drilling operations and crude extracting sub-sea architecture for the development of the Sea Lion project, which could delay the original chronogram for first oil.
Friday, August 30th 2013 - 01:02 UTC
Falklands’ consultation on new deep port receives many suggestions and strong support

The Falkland Islands government has released the findings of the public consultation document ‘Your Future – Your Say’ which show a very strong support for phased development of the new port, “to serve all its potential users,” according to an Executive Council paper.
Friday, August 30th 2013 - 00:34 UTC
China company takes 33% stake in US Apache Corp. oil and gas business in Egypt

China Petrochemical Corporation, Sinopec, has agreed to buy a 33% stake in the Egyptian oil and gas business of US firm Apache Corporation. Sinopec will pay Apache 3.1bn dollars in cash for the stake. The deal is the latest in a series of similar moves by Chinese oil firms as they look to secure energy supplies to meet growing domestic demand.
Thursday, August 29th 2013 - 23:54 UTC
Falklands’ Noble Energy exploring for oil in disputed Caribbean waters supported by Nicaragua

On 17 July, Nicaragua announced that US-based Noble Energy would invest 30 million dollars in drilling two offshore wells in the Caribbean—launching Nicaragua's first-ever oil exploration.
Thursday, August 29th 2013 - 03:39 UTC
Neuquen legislature approves YPF/Chevron deal to exploit Vaca Muerta shale reserves

The Argentine Patagonian province of Neuquén legislature approved by a comfortable majority the agreement struck between YPF and Chevron to exploit the Vaca Muerta shale gas reserves, after a day disrupted by fierce protests outside the provincial parliament.
Wednesday, August 28th 2013 - 21:56 UTC
Brazil raises benchmark interest to 9% hoping to rein in inflation

Brazil raised on Wednesday its Selic benchmark interest rate to 9% from 8.5% in a further attempt to rein in inflation. The central bank's monetary policy committee, the Copom, voted unanimously for a third straight half percentage point rate rise.
Wednesday, August 28th 2013 - 14:24 UTC
EU Home Affairs Commissioner heads mission to examine Spanish controls at Gibraltar border

Cecilia Malmstrom, European Commissioner for Home Affairs, will be heading the mission tasked with examining border controls imposed on Gibraltar by Spain while a second mission will address the ‘customs dimension’ issue, the European Commission has confirmed. British authorities will be involved in the EC probe of the Gibraltar frontier as will Spanish officials but no date for the visit has been set though it is expected within a few weeks.
Wednesday, August 28th 2013 - 14:22 UTC
UK reaffirms support for Gibraltar; Picardo meets with PM Cameron and Hague

British Prime Minister David Cameron office has highlighted the significance of Chief Minister Fabian Picardo’s visit to No 10 Downing Street as an indication of the relationship and support of UK for Gibraltar.
Wednesday, August 28th 2013 - 14:13 UTC
Falklands’ lawmaker invites Brazilian companies to join Islands oil industry development

The sovereignty issue should be left aside and talks should concentrate on the business opportunities offered by the oil industry in the Falkland Islands, said lawmaker Dick Sawle during an interview with AP in Brazil where he is on a week long visit of business and political contacts.