Latin America ///

Former Venezuela Oil Company CEO says bonds will be paid

The former CEO of Venezuela’s state run-oil company said it will make debt payments this year and next, even as he acknowledged the crude producer is struggling with cash-flow and operational issues.

Hess building a war chest with $4.4-billion Guyana find in mind

With $2.7 billion in oilfield sales this week, Hess Corp. is making a calculated bet, giving up steady production today to help fund what could be one of the world’s biggest discoveries into the next decade.

ExxonMobil’s investment plan approved for Los Toldos I South block in Argentina

ExxonMobil announced today that the Neuquén Province government has approved the investment plan for the development of a 35-year unconventional exploitation concession in the Los Toldos I South block.

Venezuelan oil cargoes to U.S. ports plunge as sanctions bite

Venezuela’s biggest market for crude sales -- the U.S. -- is becoming a harder and harder place for the socialist nation’s oil producer to do business as sanctions and diminishing quality controls discourage would-be buyers.

Petrobras contracts FPSO for Sepia field, in the Santos basin

Petrobras informs that on Oct. 13, 2017 it signed a contract with Modec Group to charter a FPSO platform to be used at the Sepia field development project, derived from the Transfer of Rights Agreement, located in the pre-salt of the Santos basin.

Packers Plus, Gran Tierra partner for improved resource development in Colombia

Packers Plus Energy Services Inc. is pleased to have partnered with Gran Tierra Energy to optimize well performance as the company advances its conventional development program in Colombia.

FairfieldNodal sets sail for deeper waters to acquire data for Libra consortium

FairfieldNodal’s project to acquire and process high-resolution 3D marine seismic for the Libra consortium has left port for deeper waters to begin work.

President Energy announces first sale of oil from Puesto Flores field in Argentina

President Energy, the upstream oil and gas company with assets focused primarily in Argentina, has announced that it has already banked the proceeds from its first delivery of oil from Puesto Flores field.

FairfieldNodal awarded data acquisition project offshore Trinidad

FairfieldNodal will begin a large Z700 acquisition project offshore Trinidad in late October 2017.

Mexico says world's largest oil hedge has been completed

Mexico has completed its annual oil hedge for 2018, which will lock in an average export price of $46/bbl of crude, Deputy Finance Minister Vanessa Rubio said in an interview.

Back-up cutters prevail in hard and abrasive rock

Seth Anderle, Brad Dunbar, Shilin Chen, Halliburton

A new backup cutter layout extends bit life without sacrificing rate of penetration.

Shell Brazil, COPPE select 4Subsea for 25-million NOK research project

4Subsea is awarded a Shell-funded contract to support COPPE, the centre for engineering research and education at the Federal University of Rio de Janeiro (UFRJ).

Petrobras notified of ANP's decision on local content in Libra

Petrobras informs that, as operator of the Libra consortium, it has been notified by the National Petroleum, Natural Gas and Biofuels Agency (ANP) of its decision on the consortium´s request for local content exemption for the items and subitems related to the platform subsystem of the Libra Pilot project.

ExxonMobil's Guyana deepwater discovery could total 2 Bbbl, WoodMac says

ExxonMobil's fifth new oil discovery offshore Guyana, proves "that deepwater can still be attractive."

Gazprom discusses cooperation with Cuba Energy Ministry, highlights success with Bolivia

A working meeting between Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, and Luis Alberto Sanchez, Minister of Hydrocarbons and Energy of Bolivia, took place today at the seventh St. Petersburg International Gas Forum.

ExxonMobil announces fifth discovery offshore Guyana

ExxonMobil today announced it made a fifth new oil discovery after drilling the Turbot-1 well offshore Guyana.

Tropical Storm Nate threatens oil rigs as it targets U.S. Gulf of Mexico

Tropical Storm Nate has formed off of Nicaragua, threatening to inundate Central America, shut oil and gas rigs in the Gulf of Mexico and damage cotton and citrus crops across the U.S. South.

Petrobras announces start of non-binding phase for divestment in shallow-water fields

Petrobras has announced the start of the non-binding phase regarding the assignment of all of its exploration, development and production rights in seven sets of shallow-water fields located in the States of Ceará, Rio Grande do Norte, Sergipe, Rio de Janeiro, and São Paulo.

Binding phase begins for Petrobras, Chevron in sale of Maromba field in Campos Basin

Petrobras and Chevron Brasil Petróleo Ltda., have announced the start of the binding phase regarding the transfer of Petrobras and Chevron stake in the Maromba Field, in the Campos Basin.

Dover Artificial Lift acquires PCP Oil Tools in Argentina

Dover Artificial Lift has announced its acquisition of PCP Oil Tools in Argentina.