Latin America ///

Harvest Natural Resources sues ex-oil chief over bribe demands

Former Venezuelan oil minister Rafael Ramirez, already accused of corruption by his own country, now faces a lawsuit from a Houston energy firm alleging that it lost almost half a billion dollars over its refusal to pay bribes for contracts.

Venezuela plight has U.S. rushing for heavy UK crude

Oil refineries in the U.S. Gulf of Mexico are buying the most crude from the UK North Sea in more than seven years as they scramble to replace lost supplies from Venezuela.

Venezuela's oil output crash is costly for U.S. refiners

U.S. Gulf Coast refiners are paying the price for shrinking Venezuelan crude output.

Turbodrills reduce well time and deliver lower cost per foot in hard and abrasive formations

Mark Miksa, Halliburton

Downhole turbines are a solution in hard and abrasive formations, otherwise inaccessible with conventional motors.

Echo Energy announces onshore Argentina work program

Echo Energy plc, the South and Central American focused upstream oil and gas company, is pleased to announce its 2018 work program, onshore Argentina.

Aker Solutions wins services contract from Petrobras in Brazil

Aker Solutions won a contract to provide maintenance and modifications services for three platforms at Petrobras-operated oil and gas fields offshore Brazil, expanding its business in a key international market.

Venezuela oil sanctions more likely as Tillerson tours region

U.S. Secretary of State Rex Tillerson signaled the U.S. is closer to imposing sanctions on Venezuela’s oil sector, raising the pressure on President Nicolas Maduro as his talks with opposition leaders remained at an impasse.

Total acquires exploration rights in the Guyana basin

Total has signed agreements to acquire interests into two exploration licenses offshore Guyana, the Canje Block and the Kanuku Block.

U.S. potential ban on Venezuelan oil may hit Valero, Chevron hardest

If the U.S. bans oil imports from Venezuela, Valero Energy Corp. and Chevron Corp. may end up paying the price.

'Oil-for-loan' deals partly to blame for Venezuela's economic spiral

China’s role in Venezuela, including oil-for-loan deals, is partly to blame for the South American country’s shrinking economy and the international community will probably shoulder the costs, U.S. Treasury Under Secretary for International Affairs David Malpass said.

OPEC, Russia sustain production as Saudi Arabia masks Venezuelan drop

Crude production by OPEC and its main ally Russia held steady last month as increases in Saudi Arabia and Iran offset the ongoing deterioration of Venezuela’s oil industry.

YPF said to favor finance chief Daniel Gonzalez as new CEO

Daniel Gonzalez Casartelli, a former banker who is leading asset sales at YPF SA as chief financial officer, is favored to become the next CEO of the Argentine oil and gas producer, people with knowledge of the situation said.

U.S. shale growth could support Caribbean oil storage owners

Caribbean oil terminals hurt by dwindling Venezuelan supply and a market that encourages traders to pull oil out of tank may get a shot in the arm from U.S. shale.

Tullow Oil, Eco Atlantic enter Phase Two for Orinduik Block, offshore Guyana

Eco (Atlantic) Oil & Gas Ltd., the oil and gas exploration company with licenses in highly prospective regions in South America and Africa, announces that at the Company and Tullow Oil (together “the Partners”) on the Orinduik Block, have elected to enter Phase Two of the Initial Period under the Petroleum Agreement and Prospecting License, Orinduik Block, offshore Guyana.

Petrobras, Total complete transfer of rights in Lapa and Iara concessions

Petrobras and Total announce that they have finalized a decisive milestone in the realization of their Strategic Alliance, signed in March 2017.

President Energy announces workover success at Puesto Flores field, Argentina

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina is pleased to announce successful results from its third and fourth workover wells at Puesto Flores field, Rio Negro Province, Argentina (President 90% and Operator: Ediphsa 10%).

Polarcus awarded 3D marine seismic project in South America

Polarcus Limited has announced that the company has received a letter of award for the acquisition of a 3D marine seismic project in South America.

Uruguay announces promotional activities for Round 3 bidding

After successful announcements in Houston and London of Uruguay Round 3, for which 17 offshore areas for exploration and production of hydrocarbons are being offered, the process of qualification of oil companies has already started.

ExxonMobil announces sixth oil discovery offshore Guyana

ExxonMobil Corporation has announced positive results from its Ranger-1 exploration well, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015.

Petrobras comeback snubbed by former backer as election nears

Petrobras may be making progress in its plan to reduce debt, but a former shareholder in the state-controlled energy giant isn’t ready to jump back in quite yet.