Towards the end of the year Argentina’s YPF in association with Pan American Energy and Petrobras will begin exploring for oil in the Malvinas basin, following the contract for an oil rig which has been signed, according to oil industry sources in Buenos Aires.
Uruguay will reply next week Argentina’s proposal for the joint monitoring of the River Uruguay, said Uruguayan Foreign Affairs minister Luis Almagro after holding a three hours meeting with his visiting counterpart Hector Timerman.
Argentina will inaugurate Wednesday a key new pipeline bringing natural gas from Tierra del Fuego Province to the neighboring province of Santa Cruz. The Strait of Magellan pipeline will initially transfer 5 million cubic meters a day of gas from Cabo Espiritu Santo in Tierra del Fuego Province to Cabo Virgenes in Santa Cruz.
Timerman’s portfolio to be strengthened by his special ties to Kirchners. Timerman brings rare gifts of strength of character and intellectual preeminence to his new job.
Brazil is willing to help Argentina and Uruguay with the joint monitoring of the River Uruguay which is at the heart of a pulp mill standing dispute between both countries. Argentina and Uruguay Foreign Affairs ministers are scheduled to meet Tuesday in Montevideo to address the issue.
On the eve of the resumption of European Union/Mercosur trade talks, the EU has again complained about Argentina’s ‘protectionist’ measures on some EU agriculture produce and Greece is demanding discussions be conditioned to an end to barriers.
US ratings agency Moody's said that Argentina's debt-swap is unlikely to improve the liquidity profile for corporate issuers even when the highest-rated companies will be able to tap international debt markets and lengthen their debt maturity profiles.
Former president Nestor Kirchner said Argentina needs a “strategic project for the next ten years” and forecasted that investors will arrive knowing the country has an established proven development model.
Argentina’s newly appointed Foreign Minister Héctor Timerman said that China expressed “strong support” for Argentina’s sovereignty claim over the Falklands and other South Atlantic islands, but was disappointed by the bias coverage of the Buenos Aires press.
Argentina has reached an agreement with China to end the freeze on Argentine soy-oil imports, the government said on Friday. However given the cumbersome negotiation process some Argentine traders are waiting for an official confirmation from Beijing.