Latin America ///

Halliburton awarded Shell Offshore exploration contract in Brazil's Campos, Santos basins

Halliburton awarded Shell Offshore exploraiton contract in Brazil's Campos, Santos basins

ExxonMobil wins three blocks in Argentina offshore bid round

ExxonMobil has increased holdings in Argentina after its subsidiary ExxonMobil Argentina Offshore Investments B.V. and an affiliate of Qatar Petroleum won three exploration blocks during Argentina’s first offshore bid round.

Forum secures ROV contracts for DOF Subsea's Brazil projects

Forum Subsea Technologies has secured orders from DOF Subsea to supply three of its Ultra Compact Perry XLX-C work-class remotely operated vehicles (ROVs).

Venezuela, Cuba-allied companies sanctioned by U.S. for 2019 oil shipments

The companies -- linked to the delivery of oil during February and March aboard the tanker Despina Andrianna -- are Ballito Bay Shipping Inc., based in Monrovia, Liberia and ProPer In Management Inc., based in Piraeus, Athens, the U.S. Treasury Department said in a statement.

Petrobras sells 90% stake in gas pipeline for $8.6 billion

France’s Engie SA and Canadian pension fund Caisse de Depot et Placement du Quebec have agreed to buy Petroleo Brasileiro SA's 90% stake in a natural gas pipeline unit for $8.6 billion.

Crude has surged >35% in 2018 as OPEC+ limit output

West Texas Intermediate futures were little changed, poised for a fifth weekly increase. OPEC cut production for a fourth month in March, while supply risks are mounting in member nations exempt from the strategy.

Venezuela's oil production drops by half during blackouts

Rolling blackouts across much of the country that started on March 7 paralyzed most of the country’s oil wells and rigs, which have slowly come back online.

Phoenix Global Resources granted unconventional concession at Puesto Rojas

Phoenix Global Resources plc, the upstream oil and gas company offering its investors direct exposure to Argentina's Vaca Muerta shale formation and other unconventional resources, has announced that it has been granted an unconventional concession for its Puesto Rojas Block in Mendoza Province.

Gazprom Neft, IBM Research Brazil enhance geological processing with AI

More than 30 Gazprom Neft research geologists and IBM Research Brazil machine-learning research scientists have come together for the first time to share their unique knowledge, experience and skills in a research project,

Tecpetrol goes on frac sand buying spree in Argentina

Sand shoveled out of an Argentina river used to transport soybeans may soon reappear 700 mi (1,100 km) away in the country’s booming shale fields.

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.