Latin America ///

Apache plunges on ‘incredibly thin’ Suriname well update

Apache Corp. tumbled after the company’s update on a closely watched exploratory oil well off the coast of Suriname offered little indication as to whether it will be commercially viable.

Crisis in Bolivia halts gas exploration projects

Natural gas exploration by global oil companies in Bolivia, key to growing the country’s sagging economy, has stopped amid an escalating political crisis that has left the Andean nation rudderless.

EIA: Growth in Argentina’s Vaca Muerta shale, tight gas production leads to LNG exports

Argentina’s domestic natural gas production has been rising steadily in the past three years, largely because of increasing production from the Neuquén basin’s Vaca Muerta shale and tight gas play.

Vessels sailing under the radar to ship Venezuelan crude to Cuba

Stopping the flow of Venezuelan oil to its ally Cuba might prove harder than the U.S. expected.

Mexico’s moratorium on oil auctions gives rival Brazil an edge

Mexico’s moratorium on auctioning off its oil riches to foreign producers is giving a leg up to nearby rivals Brazil and Guyana.

New managing director to head Wintershall Dea in Brazil

Change at the top of Wintershall Dea in Brazil: Valerie Bosse is the new managing director of the Wintershall Dea Business Unit Brazil and is responsible for all previous Wintershall and DEA activities in the country.

What’s new in exploration

William (Bill) Head, Contributing Editor

Rebound seen in new offshore exploration

Okra Energy achieves production milestone for Peru’s first LNG facility

Okra Energy marks a significant milestone with the production and delivery of more than three million gallons of LNG produced by its proprietary technology at its small-scale natural gas liquefaction facility, the first in Perú.

Equinor, partners fully align interests in Carcará oil discovery in Brazil

Equinor and Barra Energia have completed their transaction announced on July 4, 2018, whereby Equinor has acquired Barra's 10% interest in the BM-S-8 block in Brazil's Santos basin for a total consideration of $379 million.

Rosneft project in the Solimões basin gets priority status

The government of the Brazilian state of Amazonas assigned the priority status to Rosneft’s project in the Solimões basin.

Petrobrás makes biggest gas discovery in the Sergipe basin since 2006

Petrobras has made its biggest discovery in the Sergipe since the pre-salt in 2006. Of six fields, it expects to extract 20 MMcmd of natural gas, equivalent to a third of the total Brazilian production.

Libra Consortium takes FID on Mero-2 FPSO in Brazil’s pre-salt

Libra Consortium has announced the final investment decision to contract the Mero-2 floating production, storage and offloading (FPSO) vessel to be deployed at Mero field offshore Santos basin in Brazil.

SBM Offshore awarded LOI, operate contracts for FPSO Mero 2 lease

SBM Offshore has announced that it has signed a Letter of Intent (LOI), together with Petróleo Brasileiro S.A. (Petrobras), for a 22.5 years lease and operate of FPSO Mero 2, to be deployed at Mero field in the Santos basin offshore Brazil, 180 km offshore Rio de Janeiro.

First oil

Kurt Abraham, World Oil

U.S. EIA sees continued woes for Venezuelan oil output

Chevron seeks relief from Trump's Venezuela oil sanctions

Chevron Corp. is lobbying the U.S. for sanctions relief so it can continue doing business in oil-rich Venezuela where President Donald Trump has been pushing for regime change.

Petrobras elects new officer to board of directors

Petróleo Brasileiro S.A. - Petrobras reports that its board of directors, at a meeting recently, elected Mr. Roberto Furian Ardenghy for the position of chief institutional relations ffficer.

Brazil's ANP identifies opportunity to postpone oil and gas auctions in 2019

There is room to discuss postponement of at least one oil and gas auction in 2019.

Brazil wants to double gas outflow from pre-salt formation

New routes to deliver the natural gas produced in the pre-salt could require $2 billion in investments, according to the Energy Research Company (EPE).

Eni awarded high potential exploration block offshore Argentina

The Argentinian authorities officially awarded the exploration license of offshore block MLO 124 to an Eni-led consortium.

Venezuela falls to fourth-largest oil producer in Latin America

Venezuela, which sits atop more oil than Saudi Arabia, has fallen behind three other Latin American countries as years of mismanagement and lack of investments take its toll.