Regional News: South America

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Petrobras Turns to China for $10 Billion to Avert Crunch
Thursday, May 21, 2015 What do you do when you're burdened with the oil industry's biggest debt, credit is drying up and some of your main suppliers are under the gun? Call China.

Petrobras Offshore Platform Accident Injures Two, Stops Output
Thursday, May 21, 2015 Petrobras was forced to stop output at its P-56 offshore oil production ship in the Marlim Sul field after an explosion in an electrical panel started a fire.

ExxonMobil Discovers Oil at Stabroek Block Offshore Guyana
Wednesday, May 20, 2015 ExxonMobil makes significant oil discovery on the Stabroek Block offshore Guyana.

Argentina Says Russian Driller ERIELL Plans Local Operations
Tuesday, May 19, 2015 The Argentine government says that ERIELL, an oilfield service group majority owned by Russia's Gazprombank, had declared its intention to establish drilling operations in the South American country this year.

Ecopetrol CEO Expects 2015 Profits To Fall By Half
Tuesday, May 19, 2015 Ecopetrol will likely see profits halve this year over last, CEO Juan Carlos Echeverry said, due to a plunge in oil prices.


Energy Explorers Bemoan Cost Of Labor Disputes In Argentina
Tuesday, May 19, 2015 Labor disputes are on the rise in Argentina and costing foreign energy companies millions of dollars as they explore the country's vast but barely-tapped Vaca Muerta field, company officials say.

Bidding Begins For Peru's Largest Oil Block In Amazon
Thursday, May 14, 2015 Peru opens bidding for rights to develop the country's largest oil block after several months of negotiations with indigenous groups over pollution, energy regulator Perupetro says.

Massy Wood Group Secures 5-Year Service Contract with BP
Wednesday, May 13, 2015 Massy Wood Group signs five-year service contract to support BP operations in Trinidad & Tobago

Spanish Billionaire Cortina Joins Venezuelans in Rubiales Tussle
Tuesday, May 12, 2015 Spanish billionaire Alberto Cortina has made his first foray into oil, joining a group of Venezuelan investors to demand a better buyout price for Colombian producer Pacific Rubiales Energy Corp.

Premier Oil Resumes Drilling Operations in North Falklands
Tuesday, May 12, 2015 Premier Oil resumes drilling at the North Falklands basin's Isobel Deep well.

CEO: Colombia's Ecopetrol Oil Output Rises Due to Fewer Bomb Attacks
Monday, May 11, 2015 Oil output at Colombia's state-run oil producer Ecopetrol SA has been higher than expected so far this year due to fewer bomb attacks on its pipelines, Chief Executive Officer Juan Carlos Echeverry said.

Petrobras Said to Attract Mitsui in Brazil Gas Pipeline Sale
Friday, May 08, 2015 Petrobras has drawn interest from Mitsui & Co. in the sale of a package of natural gas pipelines, according to people with knowledge of the matter.

Alfa to Inherit Pacific Rubiales' Output Battle If Bid Prevails
Friday, May 08, 2015 If Alfa and Harbour Energy succeed in buying Pacific Rubiales Energy they'll also acquire the oil driller's battle to avert a steep production decline.

YPF Profit Fell After Argentina Ordered Gasoline Price Cuts
Friday, May 08, 2015 YPF SA says first-quarter profit fell 26% after the government cut gasoline prices amid a global energy slump.

Argentina's YPF Reports Higher Than Expected Net 1Q Profit
Thursday, May 07, 2015 YPF posts better than expected 1Q profit but earnings were still down 24.3% on the year due to the global slide in oil prices.

ExxonMobil: Oil Prospecting Off Guyana Shows Promise
Thursday, May 07, 2015 The latest effort to find oil and natural gas in disputed waters off Guyana is showing promise, a representative of ExxonMobil in the South American country says.

Big Profit Margins Can't Save Ecopetrol as Drilling Fizzles
Tuesday, May 05, 2015 Ecopetrol shares have slumped 54% in dollar terms in the past year, the worst rout among producers in the BI Global Integrated Oils Valuation Peers Index, according to data compiled by Bloomberg.

Shell Looks With 'Keen Interest' at Offshore Brazil Assets
Thursday, April 30, 2015 Shell will look with "keen interest" at any subsea deep water oil assets Petrobras puts up for sale, Chief Executive Officer Ben van Beurden says.

CEO: Petrobras Spending To Be Gauged Based On Cash Flow
Tuesday, April 28, 2015 Petroleo Brasileiro will determine future capital spending plans depending on the oil producer's ability to generate cash and obtain fresh financing, CEO Aldemir Bendine says.

Petrobras Says Non-Government Board Member Monforte Resigns
Monday, April 27, 2015 Jose Guimar„es Monforte quit the board of directors of Petrobras Friday.

Union: Four Petrobras Platforms Halt Output Due To Oil Leak
Friday, April 24, 2015 Four Petrobras oil platforms off the northeast coast of Brazil halt production after a leak was detected coming from a pipeline linking them.

Falkland Oil Drillers Suspend Work After Technical Problem
Friday, April 24, 2015 Oil explorers drilling in the waters surrounding the Falkland Islands have suspended work on the first well of their 2015 drilling campaign after a technical problem, two of the companies involved say.

Argentina's YPF Sells $1.5B Of Bonds, Tripling Sale
Thursday, April 23, 2015 YPF says it sold $1.5 billion of new 10-year bonds at 8.5%, raising its planned issuance from $500 million on the back of strong demand.

CEO: Shell's Brazil Strategy Factors In Petrobras Scandal
Thursday, April 23, 2015 Shell has taken into account the risks presented by the Petrobras graft scandal to its expanding operations in Brazil and is confident the Brazilian state-run oil company will emerge stronger.

Russia Deepens Energy Cooperation With Argentina
Thursday, April 23, 2015 Russia and Argentina have signed documents deepening energy cooperation, underlining Moscow's drive to develop ties with South America since coming under Western sanctions over the Ukraine crisis.

Petrobras Takes $17B Charge In Wake Of Scandal, Promises 'Normality'
Thursday, April 23, 2015 Petrobras reports its biggest-ever loss, the result of a $16.8 billion write-down in the wake of a massive corruption scandal.

Dutch Engineer Arcadis Collateral Victim of Brazil Scandals
Thursday, April 23, 2015 Dutch engineer Arcadis sees a sharp drop in revenues from Brazil amid fallout from corruption scandals in the Brazilian oil and gas industry.