WorldOil Kosmos Energy to re-spud Suriname wildcat Kosmos Energy has provided an update on current activity in Suriname. Oil pares gain as IEA discusses ways to tackle Venezuela risks Oil traded near $71/bbl, paring earlier gains, as the International Energy Agency said it’s in talks with producing nations to step in should sanctions be imposed on Venezuela, resulting in a supply shortfall. Echo Energy reports gas discovery at first of four exploration wells in Argentina Echo Energy plc, the Latin American focused upstream oil and gas company, has announced the successful completion of the ELM-1004 exploration well drilling at the Company's Fracción C asset, onshore Argentina, and a gas discovery for the first well in its four-well exploration campaign. BW Offshore contracts PG Flow Solutions for Polvo FPSO extension project BW Offshore has contracted liquid handling and pump specialist PG Flow Solutions to supply water booster pumps to the FPSO operator’s life extension project for the Polvo FPSO. PDVSA learns that Conoco pain may be worse than U.S. sanctions ConocoPhillips may finish what U.S. sanctions started. Echo Energy begins drilling first of four exploration wells onshore Argentina Echo Energy plc, the Latin American focused upstream oil and gas company, has announced the commencement of drilling of the first exploration well in a four-well, back-to-back campaign in the Company's Fracción C asset, onshore Argentina. Oil faces a month of mayhem as geopolitical risks proliferate Plunging Venezuelan crude production; sanctions disrupting Iranian oil exports; Saudi Arabia pushing for even higher prices; North Korea peace talks -- the coming weeks bring an abundance of risks for the oil market. Siemens and WorleyParsons to collaborate on energy, infrastructure projects in South America, Caribbean Siemens signed an agreement with WorleyParsons to explore greater collaboration on energy and power infrastructure projects, grid optimization, integration of renewable technologies, and energy efficiency and storage technologies in North East South America and the Caribbean (NESAC) region. Man who ran Venezuelan oil giant for decade predicts fast demise Rafael Ramirez, the once all-powerful Venezuelan oil czar, says the state producer he ran for almost 10 years is on the brink of collapse. Reeling from job cuts, Mexican oil country pins hopes on a rebel In the wetlands of Tabasco in southeast Mexico, indigenous farmers stand guard outside oil wells. They have no official status -– but anyone who wants to do business there has to pay to get past.