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Business South America

  • CARACAS, Nov 23- Washington has asked the government of leftist Nicolas Maduro for access to Venezuelan-American executives of U.S.-based refiner Citgo detained in Caracas this week, a State Department official said on Thursday. All six men are being held in the headquarters of Venezuela's military counterintelligence department in Caracas, the...

  • SAO PAULO, Nov 23- A Brazilian judge has decided to uphold bankruptcy protection for Seara Industria& Comércio de Produtos Agropecuários Ltda, a soy and corn trader whose largest creditor is U.S. agriculture cooperative CHS Inc, Seara said on Thursday. Seara was among the 10 biggest commodities traders in Brazil when it filed for bankruptcy protection in...

  • RIO DE JANEIRO, Nov 23- The board of Brazilian telecoms company Oi SA is trying to assemble a coalition dependent on public sector creditors to pass its restructuring plan in the face of serious opposition from private bondholders, three sources with knowledge of the board's strategy told Reuters. The board is offering similar deals to the investment banking...

  • SANTIAGO, Chile _ Sociedad Quimica y Minera de Chile SA on Wednesday reported third-quarter profit of $112.9 million. On a per-share basis, the Santiago, Chile- based company said it had net income of 43 cents. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 43 cents per share.

  • SANTA CRUZ, Nov 23- Venezuela's PDVSA is in talks with Russia's Rosneft, Italy's Eni, Spain's Repsol and Norway's Statoil to get credit for oil and gas projects, a company executive said on Wednesday, in a bid to reverse a slump in output to an almost 30- year low. Venezuela and state-run oil company Petróleos de Venezuela, S.A., or PDVSA, are seeking fresh funding as the...

  • WASHINGTON/ CARACAS, Nov 22- Venezuelan President Nicolas Maduro said on Wednesday that Venezuelan-American executives at refiner Citgo who were arrested in a corruption sweep this week would be tried as "corrupt, thieving traitors" despite a request by the United States to free them. Five of six executives of U.S.-based refiner Citgo who were arrested in...

  • WASHINGTON/ CARACAS, Nov 22- Five of six executives of U.S.-based refiner Citgo who were arrested in Caracas this week are U.S. citizens, according to a source familiar with the matter, possibly complicating Venezuela's corruption sweep of the oil industry. "These are people born in Venezuela, they're Venezuelan and they're going to be judged for being corrupt,...

  • SANTA CRUZ, Bolivia, Nov 22- Venezuelan state-run oil company PDVSA is in contract talks to export natural gas to neighbors Colombia, Trinidad and Tobago, and Aruba, a company official said on Wednesday. Colombia used to export gas to Venezuela through a pipeline. That flow would be reversed if an agreement with Colombia is reached on price, PDVSA's vice president...

  • SANTA CRUZ, Bolivia, Nov 22- OPEC will need to extend supply cuts when it meets next week to end years of global oil oversupply, oil ministers from two OPEC members said on Wednesday, just over a week before the group meets to discuss supply policy. OPEC has been successful in bringing global oil inventories closer to their five-year average, but the group needs more...

  • CARACAS, Venezuela— Five high-ranking officials arrested in Venezuela amid an anti-corruption sweep of its state-owned oil company carry American passports, people with knowledge of the case said Wednesday. The men's U.S. citizenship affords them rights under international law, the State Department said, in a case that threatens to further strain...

  • CARACAS, Nov 22- A small Puerto Rican bank that had been helping Venezuela carry out international trade operations has halted those services because of concerns about the reputational risks of doing so, a finance industry source with knowledge of the situation has told Reuters. Venezuelan President Nicolas Maduro last year tapped San Juan- based Italbank, a...

  • WASHINGTON, Nov 22- Five of six executives of U.S.-based refiner Citgo who were arrested in Caracas this week are U.S. citizens, according to a source familiar with the matter, a possible complication in Venezuela's growing sweep of corruption in the oil industry. Five of the arrested executives are dual citizens of Venezuela and the United States: Tomeu Vadell,...

  • GENEVA, Nov 22- The United States on Wednesday blocked efforts by the World Trade Organization to draft a declaration for ministers to agree on next month, a move that reflects President Donald Trump's view that the WTO does not give his country a fair deal. Trump has been highly critical of the international trade system and of countries such as China and Germany...

  • SAO PAULO, Nov 22- New labor laws that took effect this month in Brazil are prompting small firms to bring workers onto their books, potentially taking the edge off a recent surge in under-the-table employment and providing a boost for tax revenues. The regulations, the first of President Michel Temer's economic changes to directly impact Brazilians' lives, have...

  • He said OPEC has been successful in draining world inventories to bring stocks closer to their five-year average, but the group needs more time to tighten supply further. OPEC and non- OPEC members including Russia agreed late in 2016 to cut 1.8 million bpd in supply beginning this year. OPEC has grappled with increased shale output somewhat offsetting those...

  • Del Pino was speaking in Santa Cruz, Bolivia, at the Gas Exporting Countries Forum.

  • SANTA CRUZ, BOLIVIA, Nov 22- Venezuela's state-run oil company PDVSA is in contract talks with Colombia, Trinidad and Tobago, and Aruba to export natural gas there, a company official said Wednesday. Cesar Triana, PDVSA's vice president of natural gas, speaking at the Gas Exporting Countries Forum in Santa Cruz, Bolivia, said the contracts would allow the company to...

  • SANTA CRUZ, Bolivia, Nov 22- Qatar's energy minister, Mohammed al-Sada, said on Wednesday he expects oversupply of liquefied natural gas in the coming years due to increased production, but the market should tighten after 2025..

  • Nov 21- Holders of Venezuelan bonds are meeting with each other and considering forming committees, advisers and fund managers told Reuters, as questions mount about the feasibility of President Nicolas Maduro's proposal to restructure $60 billion of debt. A UK- based hedge fund, MacroSynergy Partners, has invited institutional holders of Venezuelan and...

  • *Crude orders could help Venezuela settle unpaid bills. *IOC has production joint ventures in Venezuela. IOC chairman Sanjiv Singh confirmed he had received a letter from Venezuela seeking to sell crude.