Investments

Friday, June 19th 2009 - 14:00 UTC
Brazil drafting legislation to create new state-owned oil company

Brazil’s government is considering changes to the country’s oil law that would open the way for the creation of a separate state owned company to manage development of the sub-salt and deep sea hydrocarbons resources.
Thursday, June 18th 2009 - 14:54 UTC
Brazil invests 7.6 billion USD in family farming

The Brazilian government confirmed Wednesday that the fund to promote home farming and gardening will have at its disposal 7.6 billion US dollars. This represents a 525% increase since the administration of President Lula da Silva took office in 2003.
Thursday, June 18th 2009 - 14:32 UTC
Lan Cargo and GE sign 12-year maintenance program for turbines

Chile’s Lan Cargo signed a twelve year agreement with the Aviation Department of General Electric for the maintenance, upkeep and repair of the GE90-110B engines of its fleet of four Boeings 777. The operation involves 135 million US dollars.
Wednesday, June 17th 2009 - 12:10 UTC
Oil and gas exploration off Comodoro Rivadavia begins August

Argentine oil and gas company Pan American Energy will invest 80 million US dollars in the first phase of an offshore exploration program in the San Jorge Gulf in Patagonia, next to Comodoro Rivadavia, the company said Tuesday in a statement.
Wednesday, June 17th 2009 - 06:08 UTC
Uruguay confident that Portuguese pulp mill project remains on track

Uruguay and the Brazilian state of Matto Grosso are disputing the massive investment of almost two billion US dollars in a pulp and paper plant which one of Portugal’s largest corporations is planning to build in South America, reported this week the Lisbon business daily Economico.
Tuesday, June 9th 2009 - 09:44 UTC
Repsol, Petrobras and BP to explore for oil next to Falklands’ waters

A consortium led by Spanish oil firm Repsol YPF SA (REP) plans to explore for oil in international waters between Argentina and the Falkland Islands, officials from the company said Monday.
Monday, June 8th 2009 - 14:04 UTC
World airlines 'face $9bn loss'

The global airline industry has nearly doubled its expected losses for the year to $9bn amid what it calls an unprecedented crisis.
Sunday, June 7th 2009 - 13:47 UTC
New Chilean domestic airline takes off June 18

Principal Airlines’ (PAL) imminent domestic service between Santiago, Antofagasta, and Iquique has officially received flight authorization from the Chilean Civil Aviation Authority.
Sunday, June 7th 2009 - 13:43 UTC
Fighting in the Peruvian Amazon turns ugly; death toll in the fifties

Nine Peruvian police officers were killed Saturday after security forces regained control of a petroleum facility in a remote jungle region from indigenous groups that are protesting against logging and oil exploration rights awarded by the government.
Saturday, June 6th 2009 - 14:07 UTC
Chinalco “disappointed” with Rio Tinto’s decision to scrap deal

Aluminium Corp. of China, or Chinalco, confirmed Friday that Australian mining firm Rio Tinto has scrapped the proposed 19.5 billion US dollars of investment by Chinalco, and Rio Tinto would pay a break fee of 195 million U.S. dollars to the Chinese aluminium maker.