Regional News: Latin America

 
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Venezuela's Oil Output Decline Accelerates as Drillers Go Unpaid
Tuesday, June 28, 2016 Venezuela's oil output, already the lowest since 2009, is set to slide further this year as contractors scale back drilling after the cash-strapped country fell more than $1 billion behind in payments.

McDermott Secures $454M EPCI Contract for Abkatun-2 Platform from Pemex
Tuesday, June 28, 2016 McDermott secures a $454 million contract from Pemex Exploracion y Produccion for the engineering, procurement, construction and installation for the Abkatun-A2 platform to be located in Mexico's Bay of Campeche.

Argentina Oil, Gas Workers Call 20-hour Wage Strike
Monday, June 27, 2016 Some 24,000 Argentine oil workers hold a 20-hour work stoppage on Monday over wage demands, the workers' labor union says, warning there may be further strikes if there is no agreement for a new salary contract.

Colombia's Ecopetrol Offers 20 Blocks in Auction Launch
Thursday, June 23, 2016 Colombia's state oil company Ecopetrol offers 20 oil and gas blocks for auction, part of a company plan to cut back amid low global crude prices.

Further Cost Reduction Needed on Vaca Muerta Play
Tuesday, June 21, 2016 A Shell official says further cost reduction is needed to develop the Vaca Muerta unconventional play in Argentina.

  


Sources: U.S. KKR, Mexico's Pemex Agree to $1.2B Sale, Leaseback
Thursday, June 16, 2016 U.S. private equity fund KKR and Mexico's Pemex are wrapping up details on a $1.2 billion sale and leaseback agreement, according to sources familiar with the operation, as the distressed state-owned oil company scrambles for extra cash.

Venezuela's Oil Production Tumbles as Economic Crisis Worsens
Tuesday, June 14, 2016 Hungry Venezuelans are rioting and looting amid worsening food shortages, but the OPEC country's remote oil fields have been sheltered from the social unrest so far.

Statoil May Consider Pemex Partnerships in Deep Waters, VP Says
Monday, June 13, 2016 Statoil may seek to partner with Pemex in Mexico's deepwater fields as the producer looks to gain a foothold in the country's recently opened energy market.

Mexico's Pemex Approves Trion Field as First Farm Out
Friday, June 10, 2016 Mexican state oil company Pemex picks up the deep-water Trion field near the U.S. border as the first one it will farm out to other operators to help it develop untapped resources.

Mexico Plans Next Bidding Round For Energy Opening By End-July
Thursday, June 09, 2016 The next bidding round in the opening of Mexico's oil and gas sector will be called by the end of July and consist of 15 shallow water blocks for exploration and extraction in the Gulf of Mexico, Energy Minister Pedro Joaquin Coldwell says.

Argentina's YPF Said to Name Total's Ricardo Darre New CEO
Monday, June 06, 2016 YPF, Argentina's state-controlled oil company, has named Total managing director Ricardo Darre as chief executive officer, a person familiar with the decision says.

New Petrobras CEO Vows Turnaround Without Government Bailout
Thursday, June 02, 2016 Pedro Parente kicks off his first day as CEO of Brazilian state oil company Petrobras by vowing change as he attacked the way the company has been run, noting corruption, heavy debt and government control of fuel prices.