Latin America ///

ExxonMobil sparks IMF concern with weighty returns in Guyana

ExxonMobil got such a favorable deal from Guyana, the country should rewrite its tax laws, the IMF said.

Vallourec inks long-term agreements with Petrobras

Vallourec has announced that it has signed new contracts for the supply of products and services to the Brazilian national oil company Petrobras.

Echo Energy announces rig mobilization for workover campaign in Argentina

Echo Energy plc, the Latin American focused upstream oil and gas company, is pleased to announce the mobilization of the rig for a three well workover campaign at the Company's Fracción D asset, onshore Argentina.

OPEC output falls to lowest in a year as Venezuela's woes deepen

OPEC crude production dropped to the lowest in a year amid the woes in Venezuela’s oil industry.

TGS announces new multi-beam and seep study project offshore Brazil

TGS announces the Brazil Southern basins SeaSeep Project in the Campos and Santos Basins, offshore Brazil. The project will cover existing TGS surveys in these hydrocarbon rich basins as well as the highly prospective pre-salt trend where many untested structures exist.

Wintershall becomes Brazil's fourth-largest gas producer with new license awards

Wintershall is continuing its growth course and has now been awarded exploration licenses in Brazil. In its 15th bidding round, Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) has awarded interests in seven licenses to Germany's largest internationally active oil and gas producer

ExxonMobil wins eight deepwater blocks in Brazil's latest bid round

ExxonMobil has increased its holdings in Brazil’s pre-salt basins after winning eight additional exploration blocks during Brazil’s 15th bid round.

Shell expands Brazil-operated footprint with new deepwater blocks

Shell Brasil Petroleo, a subsidiary of Royal Dutch Shell plc (Shell), today won four additional deep-water exploration blocks in the Campos and Potiguar basins, bringing its total operated presence offshore Brazil to 18 blocks.

Wealthy Argentine minister woos foreign cash for oil

Argentina’s energy minister, a millionaire who spent decades at Royal Dutch Shell Plc, is wooing the world’s biggest oil companies to invest in a nation still recovering from its 2001 default.

Statoil awarded four blocks offshore Brazil

Statoil and partners were the high bidders for four blocks in the Campos basin in Brazil’s 15th licensing round held on March 29. With the new licenses, Statoil strengthens its position in Brazil and increases synergies with current projects.

Latin American giant's hunger for foreign gas ebbs amid oil boom

As the global natural gas trade expands amid a boom in supplies from the U.S. to Australia, at least one major energy consumer may be sitting on the sidelines: Brazil.

Argentina to tender shale train to develop Vaca Muerta drilling

Argentina is readying a tender for a $500 million train line that could help unlock the potential of Vaca Muerta, one of the world’s biggest shale plays, Transport Minister Guillermo Dietrich said in an interview.

EIA: Venezuela’s crude oil production declines amid economic instability

Venezuela’s crude oil production has been on a downward trend for two decades, but it has experienced significant decreases over the past two years.

Petrobras announces sale of Piranema and Piranema Sul fields

Petrobras has announced that it has started the opportunity disclosure stage regarding the transfer of Petrobras’ total stake in the Piranema and Piranema Sul fields.

Pneumatic fluids, cuttings separator increases fluid recovery, waste reduction

Today, strict global onshore and offshore disposal standards are applicable industry-wide. One of the requirements specifies that free fluid must be removed from all cuttings. This can result in increased costs for operators due to higher treatment, disposal and transportation costs.

World of Oil & Gas

Emily Querubin, World Oil

TAG Oil Ltd. (70%), operator of the Puka permit (PEP 51135) in New Zealand’s Taranaki basin, said the Pukatea-1 exploration well was drilled to 10,170 ft, MD, encountering variable hydrocarbon shows.

IEA: Record oil output from U.S., Brazil, Canada and Norway to keep global markets supplied

Oil production growth from the United States, Brazil, Canada and Norway can keep the world well supplied, more than meeting global oil demand growth through 2020, but more investment will be needed to boost output after that, according to the International Energy Agency's latest annual report on oil markets.

President Energy reports a 66% increase in Neuquén basin 2P net reserves

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, announces the results of the latest Argentine yearly reserves certified as at Dec. 31, 2017, conducted by JR Consultores led by Juan Rosbaco, a leading Argentine Reserves auditor.

ExxonMobil reports seventh discovery offshore Guyana

ExxonMobil Corporation has announced its seventh oil discovery offshore Guyana, following drilling at the Pacora-1 exploration well.

Petrobras announces start of binding phase for divestment of Enchova, Pampo clusters

Petrobras, further to the Material Fact disclosed on July 28, 2017, and press release disclosed on Oct. 4, 2017, informs the start of the binding phase regarding the assignment of all of its exploration, development and production rights in Enchova and Pampo clusters, located in Rio de Janeiro state.