Regional News: South America

 
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SBM Completes $1.55B Financing of FPSO Cidade de Saquarema
Tuesday, July 28, 2015 SBM Offshore completes $1.55 billion financing of FPSO Cidade de Saquarema, which will deploy for work in the Lula field offshore Brazil when ready.

Guyana Considers Alternatives as Venezuela Oil Program Wobbles
Friday, July 24, 2015 Guyana is considering energy alternatives to the Petrocaribe program as Venezuela fails to meet export quotas and tensions flare between the neighboring countries.

Petrobras Union Begins 24-Hour Strike Against Asset Sales, Oil Bill
Friday, July 24, 2015 Brazilian oil workers begin a 24-hour strike in an effort to stop moves to shrink state-run oil company Petrobras, according to the main union representing the workers.

Petrobras Union May Follow 24-Hour Strike With September Walkout
Thursday, July 23, 2015 Brazil's main oil workers union is considering an open-ended strike in September if a 24-hour walkout scheduled for midnight Thursday fails to stop moves to shrink state-run oil company Petrobras.

Exxon's Guyana Oil Discovery May Be 12 Times Larger Than Economy
Wednesday, July 22, 2015 An ExxonMobil discovery in the Atlantic Ocean off Guyana may hold oil and natural gas riches 12 times more valuable than the nation's entire economic output.

  


In Land of White Collar Wrist-Slapping, A Milestone Ruling
Tuesday, July 21, 2015 In a milestone day for Brazil's biggest-ever corruption investigation, a judge hands down the first punishments to former executives at a building company and a top CEO was indicted.

Brazil Justice Minister Says Petrobras Investigation Must Follow Law
Wednesday, July 15, 2015 Justice Minister Cardozo pledged to punish any investigators found to have broken the law by using unauthorized bugs or leaking documents to the press while probing corruption at Petrobras.

Governor: Argentine Shale Fields To Get $38B In Investment
Wednesday, July 15, 2015 YPF, Pan American Energy and Wintershall will invest $38B over 35 years in the Vaca Muerta shale formation, Governor Jorge Sapag says.

Range Resources to Spud Canari North Well in Trinidad
Tuesday, July 14, 2015 Range Resources expects to spud the Canari North Exploration Well, located on the Guayaguayare Block onshore Trinidad, during the week commencing July 27, 2015.

S&P Keeps Negative Bias on Petrobras After New Business Plan
Tuesday, July 14, 2015 Standard & Poor's reiterates a negative outlook for Brazil's Petrobras, signaling the state-run oil company might soon lose its investment-grade rating despite its recent efforts to cut debt and restore investor confidence.

Petrobras Board Member Makes Rare Attack on Brazil Oil Policy
Tuesday, July 14, 2015 Brazil's oil-exploration and local-content policies harm oil producer Petróleo Brasileiro SA and the nation as a whole, a government-appointed member of the state-run company's board said in a rare show of board-member independence.

Brazil Police Target Politicians in New Round of Petrobras Probe
Tuesday, July 14, 2015 Brazilian police carry out their first search and seizure operations aimed at sitting lawmakers suspected of taking bribes in a corruption scandal at state-run oil firm Petrobras.

Peru Delays Bids For Country's Most Productive Oil Block
Monday, July 13, 2015 Peru will delay bidding for the rights to develop the country's largest oil block, which is located in the Amazon jungle, at the request of three companies involved in the process.

Argentina Ends Some Financial Incentives For Energy Firms
Monday, July 13, 2015 Argentina ends some financial incentives that were intended to boost energy investment in its huge shale oil and gas deposits even as it seeks to narrow an energy trade gap.

FPSO Cidade de Marica Arrives in Brazil from China for Integration Works
Friday, July 10, 2015 SBM Offshore says FPSO Cidade de Marica arrived at Brasa, Brazil from China for integration work ahead of delivery by end 2015.

Petrobras In Uncharted Territory With $58 Billion Sale: Real M&A
Friday, July 10, 2015 Petrobras' $58 billion asset sale proposal is unprecedented for the oil industry, and for good reason. It may be impossible to pull off.

Brazil Oilworkers Union Calls for 24-hour Strike on July 24
Friday, July 10, 2015 Brazil's main oilworkers federation says it plans a 24-hour strike on July 24 to protest budget cuts and asset sales at Petrobras as well as a move to end the company's obligation to invest in major offshore oil resources.

Petrobras Judge Allows Lawsuit While Dismissing Some Claims
Friday, July 10, 2015 Dismissing some claims, a U.S. judge rules that an investor lawsuit against Petrobras over securities losses in an alleged multi-billion-dollar bribery scheme will go forward.

Pacific Rubiales Posts Record Drop as Alfa Takeover Bid Quashed
Thursday, July 09, 2015 Pacific Rubiales Energy shares and bonds plunged the most on record after the Colombian oil producer's would-be suitors withdrew their takeover offer.

Brazil Sees $870 Million in Exploration Spending From Auction
Thursday, July 09, 2015 Oil companies are expected to invest about $870M to complete minimum exploration work at concessions Brazil plans to auction in October, according to the country's oil regulator.

Union: Two Die At Petrobras Terminal; Fire Hits Offshore Platform
Wednesday, July 08, 2015 Two workers died at a construction project at a Brazilian oil terminal operated by Petrobras, a union representing oil workers says in a statement.

Brazil Fire Sale From Petrobras to Vale Seen Driving IPO Revival
Wednesday, July 08, 2015 Brazil's government, aiming to win back investors and stave off a ratings downgrade, may back as much as $6.3 billion in IPOs by state-run companies this year.

Brazil Clears Shell's $70B Purchase Of BG
Wednesday, July 08, 2015 Brazil gives the green light to Shell to buy smaller rival BG, advancing the $70 billion merger closer to completion in early 2016.

FPSO Cidade de Itaguai Arrives at Iracema Norte Area in Santos Basin
Monday, July 06, 2015 FPSO Cidade de Itaguai arrives in Iracema Norte area in Santos Basin, offshore Brazil to prepare for oil production in the third quarter of this year.

Douglas-Westwood: 'Brazil - In Deep Trouble'
Monday, July 06, 2015 Dougals-Westwood comments on "Brazil - In Deep Trouble" in its latest edition.

Repsol Starts Production at Giant Perla Field Offshore Venezuela
Monday, July 06, 2015 Repsol begins production from the first producing well on its giant Perla gas field in the Gulf of Venezuela.

Petrobras May Sell Braskem Stake, Build Tax Provisions, Valor Says
Monday, July 06, 2015 Petroleo Brasileiro could sell a stake in resin producer Braskem in order to build provision against tax debts nearing $12.7 billion.

Petrobras Rig Supplier Said Close to Getting $4 Billion Loan
Friday, July 03, 2015 Sete Brasil, the oil rig-supplier embroiled in Brazil’s biggest graft scandal, expects to secure $4 billion in fresh funding to finish work on some rigs, says a person with direct knowledge of the matter.

Petrobras History of Failed Plans Raises Doubt over New Promises
Wednesday, July 01, 2015 Brazil's state-run oil company Petroleo Brasileiro's history of failed spending and output plans may be the biggest obstacle to its efforts to convince investors it will reduce its debt.