Investments
InvestmentsArgentina's YPF planning to cut capital expenditure by at least 20/25%
Argentina's state-controlled energy company YPF will cut capital expenditure by at least 20-25% this year to mitigate the impact of the global oil price rout — leading to growing concerns among union leaders, who claim up to 2,000 workers would be laid off because of the company’s decision.
Panama wants to be Home Port for cruises, but companies are 'asking too much'
Panama is holding tough negotiations with cruise lines hoping they will return to the country, using local facilities as Home Port, but government authorities admit that the demands from the companies are too high.
Montevideo/Falklands/Malvinas air link is “viable”, says ex Uruguayan president
Uruguay's former president Luis Lacalle Herrera said that an air bridge between Montevideo and the Falklands/Malvinas Islands is 'viable' and was optimistic about such an opportunity in the near future.
Brazil's Vale reports record losses; puts prime assets on sale to lower debt
Brazilian miner Vale SA put its prime assets on the block on Thursday after taking the biggest loss in decades, but analysts said the target to make $10 billion in 18 months was unrealistic and expressed concern a fire sale could destroy equity value.
Total starts production at Argentine Tierra del Fuego offshore gas field
French oil company Total has started up production at the offshore Vega Pleyade gas and condensate field in the Tierra del Fuego region of Argentina. Operated by Total, the project will have a production capacity of 10 million cubic meters of gas per day (70,000 barrels of oil equivalent per day (boe/d)).
Argentina's YPF submits copy of contract with Chevron but warns about 'confidential information'
Argentina's oil and gas company YPF submitted a copy of the contract signed with Chevron back in 2013 for joint works at the Loma Campana field in the province of Neuquén. Still, Argentina’s state-run energy giant demanded “confidential information” not to be revealed.
Macri and Renzi vow to promote bilateral trade and Italian investments in Argentina
President Mauricio Macri and visiting Italian premier Matteo Renzi vowed to “re-launch bilateral relations”, and emphasized the Italian interest in participating in energy, transport, gas and technology projects in the country which has become home to one of the largest Italian migrations.
Falklands' oil industry continues to advance, despite current low prices
Despite current low oil prices, the oil and gas industry in the Falkland Islands is continuing to go from strength to strength as its first project, Premier Oil’s Sea Lion, moves closer to commercialization, according to an analyst with research and consulting firm GlobalData.
Norway's Statoil joins Tullow Oil and expands share in Uruguay's Pelotas basin
Norway’s Statoil said that it has signed an agreement with Tullow Oil to secure a 35% working interest in a Uruguay’s Pelotas basin exploration block 15, about 200 kilometers off the coast of Uruguay.
Noble Energy cancels drilling in Falklands, following termination of rig contract
Falkland Islands based company, Argos Resources Ltd. said it has received notification from Noble Energy, the operator of license PL001 in which Argos holds a 5% overriding royalty interest, that it is exercising its rights to declare Force Majeure on the well.
