Carlos Villegas, president of the state-owned oil company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), has announced that the country plans to invest US$11 billion in the sector over the next seven years in order to develop its entire oil and gas production chain.
Villegas explained that YPFB needs to invest US$7 billion over this [...]
“In my view … it is impossible to understand this crisis without reference to the global imbalances in trade and capital flows that began in the latter half of the 1990s.”
* Compared with the average quarterly value of GDP in 2007-08, the first two quarters of 2009 are down in nominal terms [...]
Colombia expects its oil production to rise to above 800,000 barrels per day next year thanks to output from new fields and technology applied to existing projects.
Whilst Colombia’s oil industry will attract about US$3.5 billion in 2009 from foreign investors, roughly the same amount as last year, Armando Zamora, the head of Colombia’s [...]
In the second quarter of 2009, state owned Banco do Brasil reported an asset increase of 43.9 percent compared to the same period in 2008, becoming the number one bank in Latin America and the seventh largest on the continent.
Banco do Brasil had slipped in the rankings in November 2008, said Portafolio, [...]
The economic climate improved in all Latin American countries between July and October 2009, reports the latest joint quarterly study drawn up by the Brazilian Economy Institute, the Institute for Economic Research at the University of Munich (Ifo) and the Getulio Vargas Foundation (FGV), which also underscored the recoveries underway in [...]
Bank of America’s tail-risk warning may indeed be precisely the impetus needed for another Abu Dhabi (the emirate of last resort?) -financed bailout.
Though there is some question as to whether the technical defaults of two state-owned firms–Dubai World, an investment firm, and Nakheel, a real-estate subsidiary of Dubai World–necessarily imply the defacto [...]
Last week was a busy time in Papua New Guinea. On Tuesday the Treasurer presented the 2010 budget to Parliament, and as these things tend to do it had something for everyone, most notably a 7.5 billion Kina ($3.2 billion) increase in spending and no increase in taxes. Major beneficiaries were education and government employees, [...]
Armenia is learning the right lessons from its ongoing recession and should respond to it with radical reforms in order to return to the path of robust economic growth, a senior World Bank official said on Friday.
“When 30 percent of the economy is composed of income produced in one sector — [...]
Back in the heady days of 2006 some 30,000 cranes, roughly a quarter of total global capacity, were busy whirring away in Dubai.
Today most of these devices have either left to find service in other parts of the globe, or lie silent, unused and unloved. In what is only the latest sign [...]
In Q3 2009 Rosneft’s revenues increased by 19.2% quarter-on-quarter, to USD 13,048 mln.
The increase was due to higher crude oil and petroleum product prices, growth of crude oil production volumes and refinery throughput. In 9M 2009 revenues amounted to USD 32,259 mln, a decrease of 44.6% year-on-year. The decrease was primarily [...]