Latin America ///

Qatar Petroleum acquires 30% equity in two ExxonMobil affiliates in Argentina

Qatar Petroleum has entered an agreement with ExxonMobil to become a 30% equity holder in two ExxonMobil affiliates in Argentina, which hold different interests in hydrocarbon licenses for seven blocks in the world-class Vaca Muerta play in the onshore Neuquén basin.

Petrobras CFO replaces Parente as CEO

Ivan Monteiro has been named to head Brazilian state-controlled oil company Petrobras on an interim basis, replacing CEO Pedro Parente who resigned Friday.

Brazilian pre-salt continues to deliver high productivity performance, says GlobalData

Presently, ultra-deepwater Brazilian pre-salt prevails by delivering high productivity performance assurance to the industry expectations and to the government advantage, according to GlobalData, a leading data and analytics company.

Peru repeals Tullow Oil laws signed as Kuczynski quit presidency

Peru’s President Martin Vizcarra repealed decrees permitting London-based Tullow Oil Plc to begin exploration at five offshore oil blocks, in a move criticized by the industry as creating uncertainty for investors.

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.

Regional Report: Latin America Is Latin America’s fragile market cracking under pressure?

Emily Querubin, World Oil

Despite the rise in crude prices, many Latin American countries are still grappling with considerable debt and declining production rates.

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.

Hess acquires interest in new acreage offshore Guyana

Hess Corporation has announced that its subsidiary, Hess Guyana (Block B) Exploration Limited, had reached agreement with Esso Exploration and Production Guyana Limited (ExxonMobil) to acquire a 15% participating interest in the Kaieteur Block, offshore Guyana.

Fugro provides seep hunting expertise offshore Brazil

Working for multi-client geoscience data company, TGS, Fugro continues the hunt for hydrocarbon seeps, this time offshore Brazil.

Petrobras announces start of production at Búzios field, in the Santos basin

Petrobras has started production of Búzios field, in the pre-salt of the Santos basin, by means of platform P-74.

Echo Energy reports oil to surface at second workover in Argentina

Echo Energy plc, the Latin American focused upstream oil and gas company, has announced the successful and safe completion of the second workover of the three-well workover campaign at the Company's Fracción D asset, onshore Argentina.

Eco gives update on 3D seismic processing in Guyana

Eco Atlantic released an update on the processing and interpretation of recently acquired 2,550 sq km of 3D seismic on the company’s Orinduik Block, offshore Guyana.