Latin America ///

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.

Peru repeals Tullow Oil laws signed as Kuczynski quit presidency

Peru’s President Martin Vizcarra repealed decrees permitting London-based Tullow Oil Plc to begin exploration at five offshore oil blocks, in a move criticized by the industry as creating uncertainty for investors.

Kosmos Energy to re-spud Suriname wildcat

Kosmos Energy has provided an update on current activity in Suriname.

Oil pares gain as IEA discusses ways to tackle Venezuela risks

Oil traded near $71/bbl, paring earlier gains, as the International Energy Agency said it’s in talks with producing nations to step in should sanctions be imposed on Venezuela, resulting in a supply shortfall.

Echo Energy reports gas discovery at first of four exploration wells in Argentina

Echo Energy plc, the Latin American focused upstream oil and gas company, has announced the successful completion of the ELM-1004 exploration well drilling at the Company's Fracción C asset, onshore Argentina, and a gas discovery for the first well in its four-well exploration campaign.

BW Offshore contracts PG Flow Solutions for Polvo FPSO extension project

BW Offshore has contracted liquid handling and pump specialist PG Flow Solutions to supply water booster pumps to the FPSO operator’s life extension project for the Polvo FPSO.

PDVSA learns that Conoco pain may be worse than U.S. sanctions

ConocoPhillips may finish what U.S. sanctions started.

Regional Report: Latin America Is Latin America’s fragile market cracking under pressure?

Emily Querubin, World Oil

Despite the rise in crude prices, many Latin American countries are still grappling with considerable debt and declining production rates.

Echo Energy begins drilling first of four exploration wells onshore Argentina

Echo Energy plc, the Latin American focused upstream oil and gas company, has announced the commencement of drilling of the first exploration well in a four-well, back-to-back campaign in the Company's Fracción C asset, onshore Argentina.