The cost of producing energy keeps going up in Chile, as the drought in the north drags on and the international price of petroleum increases.
The Chilean government announced on Wednesday a string of measures to help prevent the possibility of more blackouts. Chile is in the middle of a yearlong drought, crippling its ability to produce hydroelectric power.
Future cooperative agreements among the countries of the Pacific Ring could reduce electricity costs in Chile’s far north by up to 25 percent. Chile’s energy costs are currently the highest in the region.
Last December 2, a ceremonial first stone was laid to mark the start of construction of a photovoltaic solar plant near the northern Chilean city of Calama.
Paraguay expects the Mercosur summit that begins Monday in San Juan, Argentina, to approve 650 million US dollars in loans. The Paraguayan Foreign Affairs ministry also confirmed that President Fernando Lugo and chancellor Hector Lacognata will be attending the meeting.
Paraguayan officials downplayed statements by Brazil’s main opposition presidential candidate Jose Serra who said that Brazil is doing “philanthropy with Paraguay and Bolivia”.
Argentina is a showcase for the world in the research and development of nuclear energy for peaceful purposes and this has been the excellent work of Argentine scientists helping to keep the country’s Atomic Energy Commission (CNEA) alive, said President Cristina Fernandez de Kirchner on the sixtieth anniversary of the institution.
Aban Offshore (BOM:523204), India’s largest offshore drilling and oil field services provider, suffered a major setback on Thursday, when its gas platform Pearl sunk off the coast of Venezuela. This was one of Aban’s biggest money spinning rig earning 358,000 US dollars a day.
Rockhopper Exploration (LON:RKH) oil discovery in the Falklands Islands is of “good” quality said on Friday a release from the company. The announcement had a positive impact on shares of all Falklands’ oil explorers.
Argentine based GeoPark Holdings (LON:GPK) has reported the successful testing of two new wells on the Fell Block in southern Chile.