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Sep 27, 2013

BP battles for billions in new Gulf trial phase

HOUSTON/LONDON (Reuters) – BP will battle to hold down fines that could hit $18 billion in a new phase of the Gulf of Mexico trial that will rule on how much oil it spilled in 2010 and judge its efforts to plug its well.

Starting on Monday in New Orleans, this second of three phases of a trial determining responsibilities for the worst marine pollution ever seen in the United States, could – in the worst outcome for the British firm – land BP with a bill five times greater than the $3.5 billion it has set aside for fines.

Sep 17, 2013

Tight oil potential outside N.America is huge -study

LONDON/HOUSTON, Sept 17 (Reuters) – Commercially recoverable
reserves of tight oil in the rest of the world could be double
or more those of North America and the geology of the 23 best
opportunities is better in some cases, according to a new study.

But the study by analysis firm IHS warned development in
newer regions will likely to be slower than in the United States
as many countries could run into constraints including
government policy and regulation, lack of access to specialised
kit and skilled labor, and access to land.

Jun 7, 2013

Peru’s leader says will not pardon jailed Fujimori

LIMA (Reuters) – Peru’s government on Friday rejected a pardon request from jailed former President Alberto Fujimori, saying he does not suffer from a terminal illness, in a move likely to aggravate tensions with the opposition.

Fujimori, 74, was imprisoned on corruption and human rights convictions stemming from his 1990-2000 rule, when he beat back hyperinflation and concentrated power to crack down on a bloody leftist insurgency known as the Shining Path.

Jun 7, 2013

Exclusive: Brazil’s Petrobras plans to leave Peru – sources

LIMA (Reuters) – Brazil’s Petrobras plans to leave Peru, six high-level sources inside and outside of the company said, as the overextended state-run firm sheds assets abroad to focus on its domestic market.

The sources did not say how much the Peruvian assets – which basically consists of two natural gas blocks – could be worth. Globally, the company reportedly expects to generate about $9 billion from an asset sale program being carried out to help fund the development of enormous offshore reserves in Brazil.

Jun 7, 2013

Brazil’s Petrobras plans to leave Peru – sources

LIMA, June 7 (Reuters) – Brazil’s Petrobras plans to leave
Peru, six high-level sources inside and outside of the company
said, as the overextended state-run firm sheds assets abroad to
focus on its domestic market.

The sources did not say how much the Peruvian assets – which
basically consists of two natural gas blocks – could be worth.
Globally, the company reportedly expects to generate about $9
billion from an asset sale program being carried out to help
fund the development of enormous offshore reserves in Brazil.

May 20, 2013

Peru central bank may trim GDP view

LIMA (Reuters) – Lower commodities prices are crimping growth in emerging markets like Peru even as growing confidence in the U.S. economy leads some central bankers to start preparing for life after stimulus.

Most policymakers see the U.S. economy heading toward an increasingly solid recovery, especially in the second half of this year, Peru’s Central Bank President Julio Velarde said during the Reuters Latin America Investment Summit.

Apr 19, 2013

Maduro gets South American backing in Venezuela votes dispute

LIMA (Reuters) – Venezuelan President-elect Nicolas Maduro won a collective show of support from South American leaders early on Friday in Lima as his plans to widen an audit of electronic votes helped calm tensions over the disputed election.

The last-minute meeting of the regional group Unasur ended in Peru hours before Maduro’s scheduled swearing in ceremony in Caracas.

Apr 19, 2013

Maduro looks for South American backing in Venezuela dispute

LIMA (Reuters) – Venezuelan President-elect Nicolas Maduro was expected to get a collective show of support from South American leaders in Lima on Thursday, but also face calls to defuse tensions with his opponents over the disputed vote.

The last-minute meeting of the regional group Unasur was being held in Peru a day before he is to be sworn in on Friday.

Apr 18, 2013

South America rushes to back Maduro as U.S. casts doubts on Venezuela vote

LIMA (Reuters) – South American leaders will make a collective show of support for Venezuelan President-elect Nicolas Maduro on Thursday in Lima, officials said, as the United States and his opponents call for a recount of the disputed vote.

Venezuela Foreign Minister Elias Jaua said he would attend the last-minute meeting of the regional group Unasur in Peru a day before Maduro’s swearing in on Friday.

Mar 12, 2013

After Chavez, Latin America’s ideological battle may ease

CARACAS (Reuters) – Hugo Chavez’s exit from the world stage may take the sting out of an ideological battle that has enveloped Latin America since a new batch of leftists started taking power about 15 years ago to challenge U.S. “imperialism”.

Fans say Chavez’s hyperkinetic energy is irreplaceable, and even before his death last Tuesday the appeal of his boisterous, hard line approach to economic and foreign policy had faded.

    • About Terry

      "I lead our coverage in Peru, where I have been since August 2007. Before that, I worked in Brazil for seven years covering all things under the sun."
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