Latin America Headlines

Ecuador: Government Expects Chinese Talks to Yield Agreement in October

Jorge Glas (pictured), Ecuador’s Minister Coordinator of Strategic Sectors, has said that he expects talks with Chinese firms on establishing the Refineria del Pacifico to yield results in October. The Andean nation is negotiating with China National Petroleum and the Industrial and Commercial Bank of China as it seeks to finance the $13bn, 300,000 bpd refinery, a key part of President Rafael Correa's energy plans.


Argentina: Government Mandates Annual Investment Plans for Oil Firms

The Argentine government is requesting that all oil companies doing business in the country submit an annual investment plan as part of its attempt to reinvigorate the country's declining production. The plans must be submitted to the country’s President, Cristina Kirchner and its deputy economic minister Alex Kicillof by the end of September or face expulsion from the country.


Columbia: Ecopetrol Profit Declines on Guerilla Attack Damage

Ecopetrol has said that high costs incurred over the three months to the end of June were the main reason for the company’s decline in net income. Damage caused by guerilla fighters attacking the company’s pipelines saw it forced to report a 2.5% drop in profit. Ecopetrol is 88.5% owned by the Columbian government, which is engaged in a war with guerilla rebels that is more than 50 years old. 


Venezuela: Chavez Advises Repsol to Make Deal with Argentina

Repsol and the Argentine government should find grounds for a friendly agreement and an end to hostilities, Venezuelan president Hugo Chavez has said. Chavez, who supported Argentine president Cristina Fernandez when she decided to strip Repsol of its shares in Argentine producer YPF earlier this year, said that he would advise Repsol not to act hastily on the matter.
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