Latin America ///

Venezuela’s oil production fell to 13-year low in June, IEA says

Venezuelan crude production fell to a 13-year low last month as an economic crisis weighed on the OPEC member’s oil industry, the International Energy Agency said.

Petrobras' Lula field is eighth in the Santos basin pre-salt

Petrobras has announced the start-up of the Lula Central production system, with the interconnection of the first production well (8-LL-81D-RJS) to FPSO Cidade de Saquarema, on July 8, and the production stabilization at around 30 Mbpd on July 11.

NOVATEK ships first LNG cargo from Trinidad & Tobago

OAO NOVATEK has announced that Novatek Gas & Power, a wholly owned trading subsidiary of NOVATEK, has supplied its first LNG cargo sourced from the Trinidad & Tobago LNG plant, to Chile, Port Quintero.

Petrobras to sell nine shallow-water concessions

Petrobras is selling nine shallow-water concessions in the states of Ceará and Sergipe.

Panama Canal to see 550 U.S. LNG tankers a year following expansion

Natural gas exports from the U.S. Gulf Coast will reach buyers in Asia and South America faster and at lower costs thanks to an expanded Panama Canal that could see 550 tankers a year by 2021.

Exxon confirms world-class oil discovery offshore Guyana

Exxon Mobil today said that drilling results from the Liza-2 well, the second exploration well in the Stabroek Block offshore Guyana, confirm a world-class discovery with a recoverable resource of between 800 MMboe and 1.4 Bboe.

Lloyd's Register extends rig integrity support in blowout preventers to BHP Billiton

Lloyd’s Register has extended rig integrity support for the Deepwater Invictus drillship. The company’s expertise in BOPs and rig integrity will be used to provide confidence in how risk is managed for deepwater drilling and well exploration.

Venezuela’s oil output decline accelerates as drillers go unpaid

Venezuela’s oil output, already the lowest since 2009, is set to slide further this year as contractors scale back drilling after the cash-strapped country fell more than $1 billion behind in payments.

Wood Group wins multi-million-dollar contract for Statoil’s Peregrino field

Wood Group has been awarded a multi-million-dollar contract to provide detailed engineering and design, and procurement services to South Atlantic Holding (owned by Statoil and partner Sinochem) for the development of Peregrino field wellhead platform C, offshore Brazil.

Chevron Vaca Muerta costs drop 20% nearing goals, Moshiri says

The cost to drill wells at Argentina’s Vaca Muerta, site of the world’s second-biggest shale reserves, has dropped 20% this year, putting Chevron Corp. and its partners closer to meeting spending goals.

Venezuela says $50 oil is enough to avoid PDVSA default

Crude prices around $50/bbl are enough for Venezuela’s state oil producer to avoid a default on its debt, company president and national oil minister Eulogio Del Pino said Thursday in an interview.

Libra appraisal well hits 410 m of net pay, Petrobras says

The Libra Consortium has finished drilling and appraising the seventh well in the block. According to Petrobras, the well uncovered the largest net pay ever discovered—410 m—in the Libra Block.

Polarcus wins additional 3D project offshore South America

Polarcus has received a Letter of Intent from an undisclosed client for an additional broadband 3D marine seismic survey offshore South America.

Pre-salt production exceeds 1 MMbopd, Petrobras says

Pre-salt production now accounts for 40% of the oil produced from facilities operated by Petrobras in Brazil.

Helix, Petrobras finalize contract negotiations

Helix Energy Solutions Group has completed its contract renegotiations with Petróleo Brasileiro S.A. and has entered into amendments to its well intervention services contracts for its two chartered vessels, the Siem Helix 1 and the Siem Helix 2, offshore Brazil.

Exxon CEO says Argentina shale investment may exceed $10 billion

Exxon Mobil Corp. may invest more than $10 billion in Argentina’s Vaca Muerta shale formation in the next decades, Chairman and CEO Rex Tillerson said Thursday.

Petrobras names new CEO and board member

Petrobras has annouced the resignation of Aldemir Bendine from Petrobras’ board member and CEO positions.

Shell awards Parque das Conchas subsea pump contract to Sulzer, FMC

Sulzer and FMC Technologies have received a subsea multiphase boosting pump contract to upgrade one of the pumping modules in Shell’s Parque das Conchas, a deepwater field off the coast of Brazil.

Rockhopper confirms potential of Falklands basin oil discovery

Rockhopper Exploration confirmed potential oil resources in a discovery in the Falklands basin, sending its shares higher.

Petrobras corruption investigation said to ramp up in U.S.

U.S. authorities are investigating more than a dozen companies as part of an international bribery probe that has already led to more than 150 arrests in Brazil, according to people familiar with the matter.