Latin America ///

Equinor Brasil president wants an open gas market according to Quest Offshore

Margaret Øvrum recalls that investment depends on viability, "With a monopoly, you do not get the right price."

Venezuelan crude shipments dead in the water on U.S. sanctions

Venezuela’s exports to the U.S. hit zero last week after American sanctions on PDVSA.

Brazil said to see Petrobras payout surpassing $18 billion

Petrobras is expected to receive more than $18 billion from a mixture of government and private sources as payment for oil reserves, people familiar with the matter said, potentially resolving a dispute that has dragged on since 2013.

Companies in the news

Michele Cowart, World Oil

Equinor has, together with its partners Petoro, ExxonMobil and Total, proven gas and condensate in the Norwegian Sea Ragnfrid North (6406/2-9 S) exploration well, located ~12.43 mi (20 km) south of the Kristin platform in the Norwegian Sea.

Açu Petróleo signs contract with Equinor for ship to ship in Port of Açu

Açu Petróleo (a partnership of Prumo Logística and Oiltanking) and Equinor signed a contract for oil transshipment services at the Petroleum Terminal (T-OIL), located in the Complex of Port of Açu, in the north of the state of Rio de Janeiro.

CERA Week 2019 Day 2 - Leadership

During Day 2 of CERAWeek 2019, the leadership dialogue continued with Chevron Chairman of the Board and CEO Mike Wirth, who spoke to the crowd about Chevron’s goals in the Permian basin and Gulf of Mexico.

Venezuela's "badly broken" oil sector needs outside help

Venezuela’s opposition leader is rolling out the welcome mat to foreign investors who want a piece of the world’s largest oil reserves.

Perry sees Venezuelan oil output dropping until regime changes

U.S. Energy Secretary Rick Perry said the decline of oil output from Venezuela will continue until there’s a change of leadership.

Petrobras seeks to trim budget by cutting jobs, marketing

Petroleo Brasileiro SA plans to implement a voluntary redundancy program and cost-cutting measures aimed at shaving $8.1 billion off its budget for the next five years.

Maduro gets oil lifeline from Russia after U.S. sanctions hit

Just as Venezuelan state-run oil company PDVSA was running out of an obscure product needed to thin out its crude and keep exports flowing in the wake of U.S. sanctions, Russia is coming to the rescue.

Naviera Tramarsa sends Cougar XT offshore Peru

Offshore operator, Naviera Tramarsa, has extended its underwater robotic vehicle fleet with a new Cougar XT from Saab Seaeye to enter operations in May 2019.

U.S. sanctions on Venezuela are a blessing to Colombian oil

U.S. Gulf refiners are bidding up prices for Colombian crude amid sanctions on Venezuelan imports, historically one of America’s top oil suppliers.

BP starts gas production from Trinidad and Tobago’s Angelin project

BP Trinidad and Tobago (BPTT) has announced first gas production from its Angelin development. The project was delivered on time and under budget.

Petrobras reports January's oil and gas production

Petrobras informs that in January its total production of oil and gas, including natural gas liquids (NGL), was 2.61 MMboe/y, of which 2.54 MMboed produced in Brazil and 73 Mboed abroad.

Vitol expect oil to rally as OPEC, Venezuela cause shortage

The world’s largest energy trader says oil prices are set to rally further as OPEC output cuts and American sanctions on Iran and Venezuela cause a "shortage" of the low-quality heavy crudes refiners rely on.

TGS announces a new multi-client 3D seismic survey in the Campos Basin in Brazil

TGS announces a new multi-client 3D seismic survey in the Campos Basin in Brazil. The survey will cover approximately 11,200 km2 within the granted permit area and will be acquired by Shearwater with the Amazon Warrior.

Venezuelan oil finds home in India as U.S. shuns shipments

India is feasting on Venezuelan oil, after the U.S. imposed a de facto ban on crude imports from the Latin American nation.

Venezuela's exit from U.S. Sanctions? Show Maduro the door

The Trump administration has given Venezuela’s state-owned oil giant, Petroleos de Venezuela SA, and President Nicolas Maduro’s associates a clear path to escape U.S. sanctions: Help bring down the authoritarian leader.

U.S. Treasury sanctions Venezuela Oil Chief Quevedo, four others

The U.S. Treasury Department sanctioned Venezuelan Oil Minister Manuel Quevedo, who also serves as the head of its state-owned oil giant, PDVSA, and four other officials for their ties to President Nicolas Maduro.

IEA says Venezuela crisis risks disrupting global crude market

The political crisis in Venezuela risks disrupting global crude markets as the type of oil pumped by the OPEC member becomes increasingly scarce, according to the International Energy Agency.