Latin America ///

Free oil market to reign in Argentina, new energy minister says

Argentina’s move to a free market for energy prices remains on track.

Petrobras announces start of production at Tartaruga Verde field

Petrobras has announced the start of production at Tartaruga Verde field, in the deep waters of the Campos basin, by means of FPSO Cidade de Campos dos Goytacazes.

Argentina resurrects oil intervention panic with cabinet switch

Javier Iguacel has left the road for the oilfield, and that may mean a complete about-face on Argentine energy policies.

Echo Energy reports significant oil discovery in Argentina

Echo Energy plc, the Latin American focused upstream oil and gas company, has announced that a significant light oil column has been interpreted in its third well, onshore Argentina.

Exxon, Hess report eighth oil discovery offshore Guyana

ExxonMobil announced that it made its eighth oil discovery offshore Guyana at the Longtail-1 well, creating the potential for additional resource development in the southeast area of the Stabroek Block.

President Energy reports 50% output increase at Puesto Flores field

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, provides an update in relation to its workover program at Puesto Flores field in Rio Negro Province, Argentina.

Rick Perry wants to help Argentina be more like Texas

The U.S. government is getting in on a shale boom 5,000 mi (8,000 km) from home.

Equinor acquires interest in Brazil's Roncador field

Equinor and Petrobras have completed their transaction announced in December 2017, whereby Equinor has acquired a 25% non-operated interest in Roncador oil field in Brazil’s Campos basin.

ExxonMobil commences development drilling offshore Guyana

ExxonMobil commenced drilling on its Liza Phase 1 development offshore Guyana.

The natural gas market in 2017

Armelle Lecarpentier, CEDIGAZ

In 2017, global natural gas demand’s above-average growth reshaped market fundamentals and  prevented the development of a global natural gas bubble. Meanwhile, global natural gas consumption doubled its 2016 growth rate, and it was well ahead of the previous five-year trend.

GeoPark announces new Argentina acquisition, YPF partnership

GeoPark Limited, a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil and Chile, today announced further expansion in the Neuquen basin in Argentina with the acquisition of Los Parlamentos Block in partnership with YPF S.A. (YPF), the largest oil and gas producer in Argentina.

Echo Energy reports positive well test results at Cañadon Salto field, Argentina

Echo Energy plc, the Latin American focused upstream oil and gas company, announces the succesful completion of the extended well test following the workover on well CSo-85 located in the mature Cañadon Salto field in the Company's Fracción D asset, in Joint Venture between Echo and its Argentine partner Compañía General de Combustibles S.A. (CGC).

Venezuela is said to urge OPEC to unite against U.S. sanctions

Venezuela wrote to fellow OPEC members urging them to unite against U.S. sanctions, echoing a similar letter from Iran, according to people with knowledge of the matter.

Iran ships first crude to Chile in years as other buyers dither

An oil tanker hauling Iranian crude is making the first delivery to Chile in at least 16 years, a sign the Persian Gulf country may be seeking out new customers for its oil in the face of renewed U.S. sanctions.

Equinor deepens position in Brazil's pre-salt region

Equinor, ExxonMobil and Petrogal Brasil presented the winning bid (75.49% profit oil) for the Uirapuru production sharing contract in the Santos basin. Petrobras exercised its right to enter the consortium and will be the operator with 30% equity.

Echo Energy completes drilling of ELA-1 exploration well in Argentina

Echo Energy plc, the Latin American focused upstream oil and gas company, announces the succesful completion of drilling of the ELA-1 exploration well at the Company's Laguna Los Capones Asset (surrounded by the Fracción C licence area), onshore Argentina.

ExxonMobil completes purchase of Carcara field interest, offshore Brazil

ExxonMobil said it has completed the purchase of half of Equinor’s interest in the BM-S-8 Block, offshore Brazil, which contains part of the 2-Bbbl, pre-salt Carcara oil field.

Qatar Petroleum acquires 30% equity in two ExxonMobil affiliates in Argentina

Qatar Petroleum has entered an agreement with ExxonMobil to become a 30% equity holder in two ExxonMobil affiliates in Argentina, which hold different interests in hydrocarbon licenses for seven blocks in the world-class Vaca Muerta play in the onshore Neuquén basin.

Petrobras CFO replaces Parente as CEO

Ivan Monteiro has been named to head Brazilian state-controlled oil company Petrobras on an interim basis, replacing CEO Pedro Parente who resigned Friday.

Brazilian pre-salt continues to deliver high productivity performance, says GlobalData

Presently, ultra-deepwater Brazilian pre-salt prevails by delivering high productivity performance assurance to the industry expectations and to the government advantage, according to GlobalData, a leading data and analytics company.