Latin America ///

PetroRio buys Petrobras’ stake in Bijupirá, Salema fields

PetroRio has signed an agreement to acquire 20% of the rights and obligations of the concession contracts for Bijupirá and Salema fields from Petrobras.

Technip wins contract for FPSO destined for Libra field

Technip has been awarded a topsides detailed engineering and procurement services contract by Jurong Shipyard Pte Ltd.

Petrobras lowers five-year spending plan to $130 bn

Petroleo Brasileiro SA cut its five-year spending plan by 37% and lowered oil output targets as Brazil’s state-controlled producer battles the industry’s heaviest debt load and a slump in crude prices.

Petrobras sets new records for pre-salt production

Petrobras’ pre-salt production in May set two new monthly output records, the company said Friday.

Petrobras finishes investigation of FPSO explosion

Petrobras has completed an analysis of the factors that contributed to the fatal accident on board the Cidade de São Mateus FPSO in February, the company announced Friday.

Xodus Subsea strengthens management team in the Americas

Xodus Subsea has appointed a General Manager and Business Development Manager to drive activity in the Americas, as the company aims to challenge the largest tier one subsea engineering companies for a share of the market in the region.

Premier Oil strikes oil in North Falkland basin

Premier Oil has struck oil at the Isobel Deep exploration well, 14/20-1, in the North Falkland basin, approximately 30 km south of Sea Lion field.

Petrobras abandons Brazil's deepwater Caramba prospect

Brazil’s state-controlled oil company Petroleo Brasileiro SA has abandoned exploration at the Caramba prospect in a deepwater region that holds the country’s biggest discoveries.

BG Brasil, Senai CIMATEC launch Latin America’s fastest supercomputer

SALVADOR, Brazil -- BG Brasil and Senai CIMATEC have unveiled the fastest ever supercomputer in Latin America at the Senai CIMATEC Supercomputing Center for Industrial Innovation in Salvador, Bahia.

Brazilian gas producer PGN plans $500 million output growth

Parnaiba Gas Natural SA, Brazil’s biggest independent natural gas producer, is investing 1.5 billion reais ($500 million) in projects, including developing five fields in the country’s northeast. The producer, backed by Cambuhy Investimentos, which counts Brazilian billionaire Pedro Moreira Salles as an investor, expects the plan to increase gas output 71%, to 8.4 MMcmd (297 MMcfd) by July 2016, said Henrique Rzezinski, institutional relations vice president of the company, known as PGN

Exxon Mobil in deepwater oil discovery offshore Guyana

Exxon Mobil Corporation has announced a significant oil discovery on the Stabroek Block, approximately 120 miles offshore Guyana.

Upstream mega projects to alter global crude routes and refining, Wood Mac says

By 2025 mega-projects offshore Brazil and Norway will add some 3.8 MMbpd of new crude supply from the Atlantic basin, according to Wood Mackenzie's latest outlook.

Petrobras’ operated pre-salt production exceeds 800,000 bopd

Petrobras has announced that on April 11, 2015, oil production in the fields it operates in the pre-salt province of the Santos and Campos basins reached the milestone of 800,000 bopd, constituting a new daily production record.

Tracerco introduces offshore mobile labs for reservoir tracer analysis

Tracerco has invested in a number of new mobile reservoir tracer analysis laboratories for use onsite in offshore projects.

Statoil and China’s Sinochem invest heavily in Brazil’s Campos basin

Peter Howard Wertheim, Contributing Editor

Statoil Brazil, in partnership with China’s Sinochem, is betting $3.5 billion in the Campos basin. Statoil Brazil president Pål Eitrheim explained the company’s strategy to World Oil.

Low oil prices hamper Mexico’s deregulation, limit potential Cuban development

Peter Howard Wertheim, Contributing Editor

Mexico is the world’s 10th largest oil producer and has some of the largest reserves in the Western Hemisphere.

Latin America’s prospects, and post-corruption Petrobras

Peter Howard Wertheim, Contributing Editor

Alvaro Teixeira is a civil engineer and geologist who worked 36 years for Petrobras on E&P projects in Brazil and abroad.

Regional Report: Latin America

Mauro Nogarin, Contributing Editor

Responding to falling oil prices, some Latin American governments push energy investment, while others slash E&P budgets.

Companies in the news

Steven McGinn, World Oil

Companies in the news

Repsol makes new gas discovery in Bolivia

Repsol has announced a new gas discovery in the Margarita-Huacaya Block in Bolivia. The discovery increases reserves in the Caipipendi area and will bolster Repsol's gas production in Bolivia.