Uruguay Oil Investment Bucks Global Pullback
Uruguay Oil Investment Bucks Global Pullback
By
Jason Fargo
Even in a distressed oil market, Uruguay is attracting major investments, with Tullow Oil telling AQ it plans to make a 'major seismic acquisition in 2017.'
After decades of standing by as neighbors Brazil and Argentina struck it rich in oil, Uruguay is getting into the action. Oil majors Total, ExxonMobil and Statoil are all making big investments in the tiny South American country, attracted by new projections that Uruguay may hold an “elephant” of an oil field.
Problem is, with oil currently below $50 per barrel, many companies are also ...
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