Latin America ///

Shell awards Parque das Conchas subsea pump contract to Sulzer, FMC

Sulzer and FMC Technologies have received a subsea multiphase boosting pump contract to upgrade one of the pumping modules in Shell’s Parque das Conchas, a deepwater field off the coast of Brazil.

Rockhopper confirms potential of Falklands basin oil discovery

Rockhopper Exploration confirmed potential oil resources in a discovery in the Falklands basin, sending its shares higher.

Petrobras corruption investigation said to ramp up in U.S.

U.S. authorities are investigating more than a dozen companies as part of an international bribery probe that has already led to more than 150 arrests in Brazil, according to people familiar with the matter.

Petrobras asset sales unaffected by impeachment

Political turmoil in Brazil shouldn’t stop Petrobras from completing asset sales it has already opened up to bidders, according to one company vying for the state-controlled driller’s Bauna offshore field.

Halliburton joins Schlumberger in cutting Venezuelan activity

Halliburton has joined rival Schlumberger in curbing activity in Venezuela due to lack of payment during the oil industry’s worst financial crisis.

Regional Report: Latin America

Emily Snyder, World Oil

Despite the industry downturn, regionwide potential drives E&P forward

Petrobras to sell Argentina, Chile assets for $1.4 billion

Petrobras has agreed to sell assets in Argentina and Chile for about $1.4 billion, as Brazil’s state-controlled oil producer looks to raise cash and focus on deepwater projects in Brazil.

Kosmos Energy finalizes Suriname farm-out with Hess Corp.

Kosmos Energy has announced that it has entered into a farm-out agreement with Hess Suriname Exploration Limited, a wholly-owned subsidiary of the Hess Corporation, covering the Block 42 contract area offshore Suriname.

Technip awarded contract extension for Logistic Base in Brazil

Technip has signed a four-year extension of its five-year initial contract, signed in January 2011 with Petrobras S.A. for its Flexible Pipes Logistic Base (BAVIT), located in Vitória, Brazil.

Analyst who called Pacific E&P crash has a new Colombia oil bet

Ian Macqueen, the analyst who called Pacific Exploration & Production’s downfall, has a new buy recommendation for investors looking to benefit from Colombia’s oil potential.

Parnaiba seeks expansion amid downturn

Parnaiba Gas Natural SA, Brazil’s biggest independent natural gas producer, is considering acquisitions and preparing to expand output in Latin America’s biggest economy.

Statoil reports positive production test at Gavea appraisal well, offshore Brazil

Repsol Sinopec, with partners Statoil and Petrobras, has completed the Gavea A1 well in the ultra-deep pre-salt Block BM-C-33 in the Campos basin, offshore Brazil.

Petrobras, Aker Solutions signs subsea services contract

Aker Solutions has secured an agreement to provide maintenance and other services for subsea facilities at Petrobras-operated oil and gas fields offshore Brazil.

Schlumberger to pare Venezuela services on lack of payments

Schlumberger Ltd. will reduce activity in Venezuela after the world’s largest oil services provider failed to collect enough payments from the national oil company.

Pacific instructed to suspend operations at Quifa Block in Colombia

Pacific Exploration & Production Corp. has announced that the company was formally notified of the Colombian Constitutional Court's decision instructing the company to suspend operations within two km of the border of an indigenous community known as "Vencedor Piriri," encompassing a portion of Quifa Block.

Juniper subsea trees arrive in Trinidad and Tobago, BP says

PORT OF SPAIN, Trinidad & Tobago -- BP Trinidad and Tobago (BPTT) said Thursday that all five subsea trees required for the Juniper project have arrived in Trinidad and Tobago.

Chariot completes 3D seismic acquisition survey offshore Brazil

Chariot Oil & Gas Limited, the Atlantic margins-focused oil and gas exploration company, announced that it has completed the 3D seismic acquisition survey covering its 100% operated BAR-M-292, BAR-M-293, BAR-M-313 and BAR-M-314 licences in the Barreirinhas basin, offshore Brazil.

Petrobras record loss shocks analysts as oil rout bites

Petroleo Brasileiro SA, the oil producer at the center of Brazil’s largest corruption scandal, reported a record loss that surprised analysts and sent shares lower.

Shell starts production from Phase 3 of deepwater development offshore Brazil

Shell has announced the start of oil production from the third phase of the deepwater Parque das Conchas (BC-10) development in Brazil's Campos basin.

Oil and gas in the capitals

Peter Howard Wertheim and Dayse Abrantes, Contributing Editor, Brazil

Despite scandals and debt, Brazil is still attractive