Tag: Oil

Urban Popular Politics and the Making of Modern Venezuela: Review

Alejandro Velasco, Barrio Rising: Urban Popular Politics and the Making of Modern Venezuela (Oakland, California: University of California Press, 2015). Alejandro Velasco’s Barrio Rising: Urban Popular Politics and the Making of Modern Venezuela (2015) uses the Caracas superblock housing complex, known today as 23 de Enero, to analyze Venezuela’s transition from the dictatorship of Marcos… Read More Urban Popular Politics and the Making of Modern Venezuela: Review

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Latin America Oil Producers Call for Action to Improve Prices

By Nathan Gill and Andrew Willis April 8, 2016 (Bloomberg News) — Oil-producing countries must take the necessary steps to stabilize the global crude market in a bid to improve prices, Ecuador Foreign Minister Guillaume Long said on behalf of Latin American nations after a gathering in Quito. Waiting for the market to balance itself would… Read More Latin America Oil Producers Call for Action to Improve Prices

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China’s Andes Said to Join Repsol in Ecuador Oil Drilling Freeze

By Nathan Gill and David Wethe  (Bloomberg) — Andes Petroleum Ecuador Ltd. and Repsol SA, Ecuador’s two biggest foreign oil producers, are shelving plans to drill exploratory wells amid a payment dispute with the OPEC nation’s government, according to two people with direct knowledge of the matter.  Andes, owned by China National Petroleum Corp. and… Read More China’s Andes Said to Join Repsol in Ecuador Oil Drilling Freeze

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Ecuador’s Dollar Reliance Worsens Impact of Oil, Correa Says

By Nathan Gill(Bloomberg) — President Rafael Correa, a former economics professor critical of Ecuador’s use of the dollar as its official currency, said the greenback is worsening the impact of falling crude prices as liquidity in the economy contracts. The reliance on the dollar means the government can’t print more money to increase the amount… Read More Ecuador’s Dollar Reliance Worsens Impact of Oil, Correa Says

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China Rescues Ecuador Budget From Deeper Cuts as Crude Drops

By Nathan Gill (Bloomberg) — Ecuador, an OPEC nation that relies on crude for about a quarter of revenue, obtained enough financing from China to avoid deeper budget cuts even as its oil price fell below $40 a barrel, Finance Minister Fausto Herrera said. The Latin American country expects total financing needs for 2015 to… Read More China Rescues Ecuador Budget From Deeper Cuts as Crude Drops

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White-Bellied Spider Monkey Losing to $18 Billion of Oil

(Originally published in Bloomberg News) By Nathan Gill      (Bloomberg) — Not even the endangered white-bellied spider monkey can escape the lingering consequences of Ecuador President Rafael Correa’s decision to default on $3.2 billion of debt four years ago.      Correa, who hasn’t borrowed from the bond market since calling Ecuador’s creditors “true… Read More White-Bellied Spider Monkey Losing to $18 Billion of Oil

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Dell’s Peixoto Sees ‘Huge’ Growth Potential in Latin America

By Nathan Gill Sept. 28 (Bloomberg) — Dell Inc., the world’s second-biggest maker of personal computers, sees “huge” prospects for growth in Latin America, where the company is looking to provide technology to Brazil’s oil industry. “Growth potential is huge in Latin America and Brazil,” Raymundo Peixoto, Dell’s manager for Brazil, said today in an… Read More Dell’s Peixoto Sees ‘Huge’ Growth Potential in Latin America

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Enap Says Chile Quintero Plant to Help Profitability

By Matthew Craze and Nathan Gill      May 13 (Bloomberg) — Empresa Nacional del Petroleo, Chile’s state-controlled oil and gas company, said the start-up of a liquefied natural-gas plant will help the company’s refinery business return to profitability.      The Quintero LNG plant will reduce power costs at the company’s Aconcagua refinery by… Read More Enap Says Chile Quintero Plant to Help Profitability

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Ecuador May Seize Perenco Assets Over Tax Dispute

By Nathan Gill Feb. 26 (Bloomberg) — Ecuadorean Oil and Mines Minister Derlis Palacios said Perenco SA has until March 3 to pay taxes or state-owned PetroEcuador will take steps to seize the French oil company’s assets. Ecuadorean President Rafael Correa said Feb. 14 that he had given the order to begin a lawsuit against… Read More Ecuador May Seize Perenco Assets Over Tax Dispute

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Ecuador’s President Calls for Lawsuit Against Repsol, Perenco

By Nathan GillFeb. 14 (Bloomberg) — Ecuador’s President Rafael Correa said today that he has given the order to begin a lawsuit against Repsol YPF SA, Spain’s largest oil company, and Perenco SA, a French oil company, over their failure to pay taxes. Correa said during his weekly address to the nation that both companies… Read More Ecuador’s President Calls for Lawsuit Against Repsol, Perenco

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Ecuador Petroamazonas Wants $820 Million for Amazon Oil Fields

By Nathan Gill Feb. 13 (Bloomberg) — Ecuador’s President Rafael Correa met yesterday with representatives of state-owned oil company Petroamazonas SA to discuss the $820 million needed to finance four new oil fields in the nation’s Amazon rain-forest region. Petroamazonas is seeking joint ventures with companies including Schlumberger Ltd., the world’s largest oilfield-services provider, to… Read More Ecuador Petroamazonas Wants $820 Million for Amazon Oil Fields

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