Latin America ///

U.S. potential ban on Venezuelan oil may hit Valero, Chevron hardest

If the U.S. bans oil imports from Venezuela, Valero Energy Corp. and Chevron Corp. may end up paying the price.

'Oil-for-loan' deals partly to blame for Venezuela's economic spiral

China’s role in Venezuela, including oil-for-loan deals, is partly to blame for the South American country’s shrinking economy and the international community will probably shoulder the costs, U.S. Treasury Under Secretary for International Affairs David Malpass said.

OPEC, Russia sustain production as Saudi Arabia masks Venezuelan drop

Crude production by OPEC and its main ally Russia held steady last month as increases in Saudi Arabia and Iran offset the ongoing deterioration of Venezuela’s oil industry.

YPF said to favor finance chief Daniel Gonzalez as new CEO

Daniel Gonzalez Casartelli, a former banker who is leading asset sales at YPF SA as chief financial officer, is favored to become the next CEO of the Argentine oil and gas producer, people with knowledge of the situation said.

U.S. shale growth could support Caribbean oil storage owners

Caribbean oil terminals hurt by dwindling Venezuelan supply and a market that encourages traders to pull oil out of tank may get a shot in the arm from U.S. shale.

Tullow Oil, Eco Atlantic enter Phase Two for Orinduik Block, offshore Guyana

Eco (Atlantic) Oil & Gas Ltd., the oil and gas exploration company with licenses in highly prospective regions in South America and Africa, announces that at the Company and Tullow Oil (together “the Partners”) on the Orinduik Block, have elected to enter Phase Two of the Initial Period under the Petroleum Agreement and Prospecting License, Orinduik Block, offshore Guyana.

Petrobras, Total complete transfer of rights in Lapa and Iara concessions

Petrobras and Total announce that they have finalized a decisive milestone in the realization of their Strategic Alliance, signed in March 2017.

President Energy announces workover success at Puesto Flores field, Argentina

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina is pleased to announce successful results from its third and fourth workover wells at Puesto Flores field, Rio Negro Province, Argentina (President 90% and Operator: Ediphsa 10%).

Polarcus awarded 3D marine seismic project in South America

Polarcus Limited has announced that the company has received a letter of award for the acquisition of a 3D marine seismic project in South America.

Uruguay announces promotional activities for Round 3 bidding

After successful announcements in Houston and London of Uruguay Round 3, for which 17 offshore areas for exploration and production of hydrocarbons are being offered, the process of qualification of oil companies has already started.

ExxonMobil announces sixth oil discovery offshore Guyana

ExxonMobil Corporation has announced positive results from its Ranger-1 exploration well, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015.

Petrobras comeback snubbed by former backer as election nears

Petrobras may be making progress in its plan to reduce debt, but a former shareholder in the state-controlled energy giant isn’t ready to jump back in quite yet.

SBM Offshore completes $720-million financing of Liza

SBM Offshore is pleased to announce that on Dec. 19, 2017, it completed the project financing of FPSO Liza for a total of $720 million.

Total launches large-scale development of giant Libra field

Total announces that it has taken the investment decision for the first large-scale development phase of the Libra project, located deep offshore, 180 km off the coast of Rio de Janeiro, in the pre-salt area of the Santos basin in Brazil.

Simmons Edeco to carry out onshore drilling campaign in Mexico

Simmons Edeco, a leading global oilfield service provider, announced that it has been awarded a contract by Weatherford de Mexico S. de R.L. de C.V., a subsidiary of Weatherford International, to provide drilling services to Canadian-based Renaissance Oil Corp. and its partner Lukoil, which are developing a diversified shale and mature fields portfolio in oil-rich Mexico.

Statoil acquires 25% interest in Roncador field, tripling its production in Brazil

Statoil ASA and Petrobras have agreed that Statoil will acquire a 25% interest in Roncador, a large oil field in the Campos basin in Brazil. The transaction nearly triples Statoil's production in Brazil, with attractive break-evens and potential for additional value creation for both parties.

ExxonMobil, Petrobras form strategic alliance

Petrobras and ExxonMobil have signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities.

President Energy announces completion of workover wells at Argentina's Puesto Flores field

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina is pleased to announce successful results from its first two workover program wells at Puesto Flores field, Rio Negro Province, Argentina.

The Global Offshore Brazil Summit is a must-attend event

Gulf Quest LLC, a joint venture between Quest Offshore and Gulf Publishing Company, is pleased to announce the first edition of the Global Offshore Brazil Summit (GOBS), which will be held June 11-13, 2018 at the Sheraton Grand, Rio de Janeiro, Brazil.

President Energy granted legislative approval of extension agreement for Puesto Flores field

President Energy has announced that the Rio Negro Provincial Legislature has approved the 10-year extension agreement for the Puesto Flores and Estancia Vieja Concession in that Province in Argentina.