Latin America ///

Chevron CEO vows to work with U.S. to remain in Venezuela

Chevron Corp., CEO Mike Wirth pledged to work closely with the U.S. to remain in Venezuela despite a spiraling crisis that has led rival oil major Total SA to retreat.

RSS design aimed at a growing scope of directional drilling demands

John Clegg, Weatherford

A novel rotary steerable system addresses maintenance, downhole motors, and hole geometry in a new light.

World of oil and gas

Emily Querubin, World Oil

The Huizhou 32-5 oil field comprehensive adjustment/Huizhou 33-1 oil field joint development project reportedly started production.

Two competing forces are setting the price of oil

As winter keeps its grip on the northern hemisphere it is the oil bulls, not the bears, who have gone into hibernation. The price rally that greeted the new year has fizzled out as renewed concerns about demand growth outweigh the tightening of oil supply through OPEC cuts and U.S. sanctions.

Venezuela oil sanctions working to pressure Maduro, Mnuchin says

Treasury Secretary Steven Mnuchin said U.S.-imposed oil sanctions are putting pressure on the embattled Venezuelan President Nicolas Maduro, who the U.S. is trying to oust.

Airborne Oil & Gas strengthens its presence in Brazil

Airborne Oil & Gas announces that Renato Bastos has joined Airborne Oil & Gas, as V.P. Brazil, strengthening its presence in Brazil.

ExxonMobil, Hess have made two new discoveries offshore Guyana

Hess Corporation has announced positive results from the Tilapia-1 and Haimara-1 wells offshore Guyana, bringing the total number of discoveries on the Stabroek Block to 12.

OPEC's oil exports to U.S. fell to five-year low in January

Less foreign oil is reaching American shores, as OPEC production cuts kick in and U.S. sanctions on Venezuela curb its exports.

Tiny Guyana could soon pump more oil than OPEC member Venezuela

Guyana, a country that currently produces no crude, could pump more than OPEC member Venezuela in five years.

Guaido U.S. envoy vows to open oil deals, restructure debt

Venezuela’s government-in-waiting intends to scrap requirements that state-owned oil giant PDVSA keep a controlling stake in joint ventures as it seeks to revive the oil sector and encourage private investment, National Assembly leader Juan Guaido’s representative to the U.S. said.

Shell, partners start deep-water production at Lula North in Brazil

Royal Dutch Shell plc, through its subsidiary Shell Brasil Petróleo Ltda. and consortium partners have announced the start of production at the Lula North deepwater project in the Brazilian Santos Basin.

Trump sanctions Venezuela oil company PDVSA, pressuring Maduro

President Donald Trump sanctioned Venezuela’s state-owned oil company PDVSA and its central bank on Monday, the latest U.S. move intended to raise pressure on the regime of President Nicolas Maduro.

Oil pushes higher as Venezuelan crisis threatens crude flows

Oil prices moved higher as analysts predicted the mounting political crisis in Venezuela could take a chunk out of global crude flows.

Venezuelan unrest shoves aside U.S. supply surge as oil climbs

Oil climbed as growing instability in Venezuela outweighed fresh reminders of the American shale boom.

Petrobras has published its 2018 oil, natural gas production

Petrobras reports that in 2018, its total production of oil and gas, including natural gas liquids (NGL), was 2.63 MMboed, of which 2.53 MMboed produced in Brazil and 101,000 boed abroad. Petrobras’ own production of oil in Brazil was 2.03 MMbpd.

Venezuela is said to map Caribbean as tension with Exxon grows

Venezuela will remap its Caribbean oil and gas prospects in a move that could further stoke a century-long border dispute with Guyana and collide with Exxon Mobil Corp.’s venture in the region, people with knowledge of the plan said.

ExxonMobil begins drilling Haimara-1 exploration well, offshore Guyana

ExxonMobil said today that it has begun drilling the Haimara-1 exploration well offshore Guyana, the first of two planned wells in January.

Venezuela taps obscure driller to replace big-name oil firms

With brand-name drillers unwilling to jump in, Venezuela is resorting to a newly formed U.S. company for help in shoring up production from its crude reserves, the largest in the world.

New Petrobras CEO rejects government intervention, vows increased oil production

The new head of Brazil’s state-controlled oil company criticized its history of government interference and vowed to pursue policies that will boost profit, echoing a wider pledge by President Jair Bolsonaro to reduce the state’s role in Latin America’s largest economy.

Halliburton President and CEO Jeff Miller appointed as chairman of the board

Halliburton Company has announced its board of directors has appointed Jeff Miller, the company’s president and CEO, as chairman of the board, effective Jan. 1, 2019.