Weekly Report - 29 November 2012 (WR-12-47)

PARAGUAY | Historic oil discovery. Oil prospecting companies have found an “abundant” oil deposit in Paraguay’s Chaco region near the border with Argentina, President Federico Franco announced at a business conference in Asunción on 26 November. Although there have long been rumours that there is oil in the Paraguayan Chaco, which covers most of the country’s western area, this is the first oil discovery ever made in Paraguay.

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