Latin America ///

OPEC gets another supply headache from surging Brazilian exports

Brazil’s most crippling recession on record is complicating life for OPEC.

ITC Global initiates satellite communication on Brazil FPSO fleet following West Africa deployment

ITC Global, a provider of satellite communications to remote and harsh environments, announced today that it has initiated installations to deliver communications services to seven floating production, storage and offloading (FPSO) vessels located offshore Brazil for a leading oil and gas service company.

McDermott awards major Trinidad and Tobago contract to PJ Valves

PJ Valves (PJV) and PJ Piping (PJP), the specialist manufacturers and suppliers of valves and piping components for the global energy industry, have been awarded a major contract by McDermott International Inc. to supply valves and piping elements for an offshore project in Trinidad and Tobago.

SBM Offshore secures contracts for next phase of Exxon Mobil's Liza project

SBM Offshore is pleased to announce that Exxon Mobil has formally confirmed the award of contracts for the next phase of the Liza project in Guyana. Under these contracts, SBM Offshore will construct, install, lease and operate a floating production, storage and offloading vessel (FPSO).

Venezuela looks abroad for fuel as domestic production wanes

Venezuela, home to the largest oil reserves in the world, is seeking to import 13 MMbbl of fuel this year as the country’s refineries are now operating at less than half of their capacity.

Echo Energy enters Bolivia's gas market with 80% interest in Hauyco block

Further to the Company’s recently announced onshore gas strategy across Latin America, Echo is delighted to announce the signature of its first transaction in Bolivia.

Chevron shielded from nearly $9-billion verdict as court rejects appeal

The U.S. Supreme Court left intact a ruling that protects Chevron Corp. from having to pay $8.6 billion in a decades-long battle over oil pollution in Ecuador, rebuffing an American lawyer who was found to have committed fraud in the Central American country’s court.

President Energy provides update on Argentina work-over program

President Energy, the upstream oil and gas company provides an update on its work-over program at its Puesto Guardian Concession, Argentina.

Repsol uncovers its largest gas volumes in five years offshore Trinidad and Tobago

Repsol has uncovered its largest volume of gas of the last five years offshore Trinidad and Tobago, where the find is the most significant in a decade for the country. The company estimates the finds made in two wells at 2 Tcf.

World's southernmost gas development, Vega Pléyade, reaches 10,000 hr of production

Total Austral, operator of the CMA-1 consortium, togehter with its partners Wintershall Energía and Panamerican Energy, has announced that after the production start-up of the offshore gas and condensate field Vega Pléyade, the world’s southernmost gas development, 10,000 hr of production have been reached.

BP Trinidad and Tobago gets green light for Angelin gas project

BP Trinidad and Tobago (BPTT) LLC today announced the sanction for the development of its Angelin offshore gas project.

BP announces two significant gas discoveries, offshore Trinidad

BP Trinidad & Tobago (BPTT) today announced that it has made two significant gas discoveries with the Savannah and Macadamia exploration wells, offshore Trinidad. The results of these wells have unlocked approximately 2 Tcf of gas in place to underpin new developments in these areas.

Interoil issues drilling update on Vikingo-1 exploration well in Colombia

Interoil Colombia E&P and SLS (strategic partner) finished the drilling of the exploratory well Vikingo-1 on May 9th, down to a final depth of 5,936 ft in the Paleozoic basement.

Shell announces start of deepwater production at newest FPSO in Santos basin

Royal Dutch Shell plc, through its subsidiary BG E&P Brasil Ltda. (Shell) and consortium partners in Lula South, announce today that deepwater production has started at the FPSO P-66, which is located in the Brazilian pre-salt of the Santos basin.

Venezuela’s secret plot to sell banned Syrian oil in U.S. market

Syria and Venezuela plotted in recent years to evade international sanctions on Syria through a secret deal to transport its crude oil through Russia to the Caribbean.

Petrobras to divest 100% stake in Brazil's Juruá field

Petrobras has begun the disclosure phase of the teaser regarding the transfer of Petrobras’ stake in the Juruá field, in the Solimões basin.

Petrobras starts production on platform P-66 in Santos Basin's pre-salt Lula Field

Petrobras and its partners in the BM-S-11 Consortium have started producing oil and natural gas from the Santos Basin’s pre-salt Lula Sul field.

Petrobras posts net income of $1.4 billion in first quarter 2017

Petrobras’ net income was R$4.4 billion in first quarter 2017, reversing the loss recorded in the same period of last year. This result reflects the company’s outstanding operating performance, despite lower demand for oil products in the Brazilian market.

Heerema Fabrication Group secures contract for Peregrino II jacket

Heerema Fabrication Group has been awarded the Procurement & Construction contract of the Peregrino II jacket by South Atlantic Holding B.V. on behalf of the Statoil Peregrino II project.

Wintershall starts first pilot well in Argentina’s Bandurria Norte field

Wintershall has launched its second operated shale oil pilot project in Argentina (100% working interest). The company has spud the first of three horizontal pilot wells in the Bandurria Norte block, which is located in the western Argentinean province of Neuquén.