Opec has again lowered its forecast for 2019 oil demand growth in a further sign Saudi Arabia and its partners inside and outside the cartel could be forced to cut supplies to bring the market into balance.
Paraguay is currently working on the Bolivian proposal to enhance the Paraguay-Parana waterway. The current transport capacity on the waterway is of 100 million tonnes per year. The Paraguayan Minister of Public Works said that his country is ready to support any integration initiative in the region.
The Chilean economy recorded its lowest annual expansion in September, 2.3%, due to the weakening of mining activity, reported the Chilean Central Bank.
The tenth version of the International Gas and Energy Forum (Figas) 2018 will be held from November 8 to 10 in the city of Tarija, with the participation of experts in hydrocarbons and electricity from more than 17 countries of the world.
Argentina finalised its first shipment of natural gas to Chile after it closed the key to its neighbour more than a decade ago. The initiative consolidates a new strategic alliance between the two countries said Chilean President Sebastián Piñera.
The Bolivian proposal for a bi-oceanic corridor is more feasible than the one suggested by Chile, which excludes Bolivia. According to Bolivian experts, the Bolivian project it is now in the pre-feasibility phase, and there is already a railway line in Brazil that connects with the Bolivian track.
Oil prices fell on Monday in London and New York, with investors more concerned about global growth than the return of sanctions on Iranian oil.
Bolivia’s Foreign trade seeks more presence in the Atlantic, through the Tamengo channel, at the head of the Paraguay-Paraná waterway. The decision aims to increase exports and imports, so that the Jennifer, Gravetal and Aguirre ports will receive international certifications for this purpose. Cargo movements in those ports are expected to reach five million tons per year.
Argentinian President, Mauricio Macri, stated that he is working to make Argentina one of the main oil and gas exporters in the world. He added that the energy strategy of his government will allow the country to become self-sufficient after years of missmanagement and inaction.
After successive interventionist PT governments, investors are hopeful Brazil will implement its first genuinely liberal economic programme in years. But for many, the proof will be in the pudding, especially given the doubts over Mr Bolsonaro’s own convictions.