(Energy Analytics Institute, Ian Silverman, 12.Jul.2018) – Foreign Direct Investment (FDI) in Latin America and the Caribbean fell for a third straight year in 2017, reported the Economic Commission for Latin America and the Caribbean or CEPAL by its Spanish acronym.
(Energy Analytics Institute, Ian Silverman, 12.Jul.2018) – Two resolutions from the Uruguayan government late last month will authorize Ancap and ALUR to access credits for up to $160 million.
In 2018, Uruguay’s state oil company Ancap plans to overcome its $136 million financial indebtedness by renewing it for an amount of up to $90 million, reported the daily newspaper El Pais.
Additionally, Ancap solicited three loans with banking institutions for up to $70 million for its subsidiary Alcoholes del Uruguay (ALUR) with the purpose of canceling loans due for the same amount, reported the daily.
(Energy Analytics Institute, Aaron Simonsky, 24.Mar.2015) – The LNG regasification plant (called ‘GNL del Plata’ in Spanish) in Montevideo, Uruguay is expected to be ready in November of 2016, reported the daily newspaper El Pais.
(Energy Analytics Institute, Aaron Simonsky, 24.Mar.2015) – Officials in Uruguay are worried about difficulties that have translated into delays at the Montevideo LNG regasification plant.
“Its a very significant project for the country. We continue to advance but we are worried about the difficulties that have arisen, as the delays could eventually affect energy generation costs,” reported the daily newspaper El Pais, citing National Party Director Elena Baldoira.
(Energy Analytics Institute, Jared Yamin, 3.Mar.2015) – Venezuela announced a financing scheme for oil shipments to Uruguay, according to a decree revealed on March 2, 2015 in Venezuela’s Official Gazette newspaper.
Over the short-term 90 days, the payments for the shipments generate interest at a flat 2 percent. Over the long-term, up to 15 years, because of the amortization of capital, there will be a two-year grace period and an annual interest rate of 2 percent.
The financed amounts will be determined by the following (see Table 1):
Avg Price⁄bbl —- Determination factor
>- 15 ———- 5%
>- 20 ——— 10%
>- 22 ——— 15%
>- 24 ——— 20%
>- 30 ——— 25%
Source: 1) Avg Annual Sales Price⁄bbl (FOB-Venezuela), 2) Determination factor for financial resources (%). Venezuela Official Gazette
Of the long-term financed portion, at least 50 percent (equivalent to 12.5 percent when the oil sales price is equal to or greater than $30/barrel) can be classified under the Compensation Fund which allows for the exchange of goods and/or services by the government of Uruguay.