Regional News: South America

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Brazil's First Oil Auction in 2 Years Seen as Referendum on Nation
Wednesday, October 07, 2015 As Brazil prepares for its first sale of oil exploration rights in 2 years, the auction is shaping up to be a mini-referendum on the willingness of investors to bet on the future of an industry.

President Energy to Acquire Remaining Stake in Paraguay Asset
Tuesday, October 06, 2015 President Energy Paraguay S.A. reaches a deal to acquire Pirity Hidrocarburos S.R.L.'s entire 36 percent interest in the Pirity Concession, located in northwest Paraguay.

Brazil's Petrobras Cuts Spending Plan for 2nd Time in 3 Months
Tuesday, October 06, 2015 Petrobras, struggling with the biggest debt load among global oil firms, cuts $11 billion from capital spending plans for this year and next as Brazil's currency and oil prices slump.

Petrobras Crime Busters Fight to Keep Graft Case Spanning Brazil
Friday, October 02, 2015 Defense attorneys are trying to chip away at the judge's jurisdiction, arguing that the sprawling case that has crippled Brazil's economy and paralyzed its government should be spread across courts.

Range Resources Limited Appoints New Director
Thursday, October 01, 2015 Range Resources Limited appoints Yu Wang as a non-executive director to its board, with immediate effect, following Sibo's $30 million investment in the company.


ANP: Brazil Produced Record 2.5 MMbpd Of Oil In August
Thursday, October 01, 2015 Brazil produces a record amount of oil in August, surpassing a previous high set in December 2014, ANP says.

Argentina's CGC Says Strikes New Natgas Deposit in Patagonia
Wednesday, September 30, 2015 Argentine energy company Compania General de Combustibles (CGC) says it had discovered a new natural gas deposit in the southern Santa Cruz province, with reserves estimated at 40 to 50 billion cubic feet.

Range Warns of Further Streamlining
Wednesday, September 30, 2015 Range Resources reveals that it will continue to reduce its general and administrative costs and streamline its operations in the near future.

Brazil's Petrobras Says Carcara Oil Well Extends Sub-salt Discovery
Tuesday, September 29, 2015 Petrobras says a third exploratory well found light oil in the Carcara offshore find in the Santos basin, confirming the find extends well beyond the initial discovery.

FOGL: Drilling Restarts at Humpback, New Well for Isobel/Elaine Complex
Friday, September 25, 2015 Drilling recommences at the Humpback well, following the resolution of equipment issues which took longer than expected, and a new well is scheduled to be drilled on the Isobel/Elaine complex.

Statoil Awards Wood Group Peregrino Field Contract
Friday, September 25, 2015 Wood Group says it has been awarded a contract to provide operations and maintenance at the Peregrino field, offshore Brazil.

Transocean Mentioned in Petrobras Carwash Corruption Probe
Friday, September 25, 2015 Transocean is being linked for the first time to the corruption probe of Petrobras, the state-owned energy giant at the center of Brazil's biggest corporate scandal.

Range On Track for 1,000 Bopd in Trinidad by End 2015
Thursday, September 24, 2015 Range Resources is on track to achieve its previously announced production target of 1,000 barrels of oil per day in Trinidad by the end of 2015.

YPF Said to Plan 2016 Spending Cut as $77 Crude Disappears
Thursday, September 24, 2015 YPF will cut spending by as much as 20% next year if a new administration lowers the domestic oil price nearer to international levels, according to people familiar with the plans.

YPF Said to Plan 2016 Spending Cut as $77 Crude Disappears
Thursday, September 24, 2015 Argentina's YPF says it will cut spending up to 20 percent next year if a new administration lowers the domestic oil price.

Petrobras Sees 'Great Wave' of $100-Oil Never Coming Back
Wednesday, September 23, 2015 It's unlikely that oil prices will ever return to $100 a barrel and Petrobras needs to work with suppliers to manage the price rout, an executive says.

Trinity Axes COO in Redundancy Program
Wednesday, September 23, 2015 Trinity will axe its chief operating officer on March 31, 2016 as part of a redundancy program, which is designed to save the company money.

Statoil Awards Wood Group Contracts for Brazil's Offshore Peregrino Project
Tuesday, September 22, 2015 Statoil awards operations, maintenance and modification services contracts to Wood Group for the Peregrino project in the Campos Basin, offshore Brazil.

Antilles Farms-Out 50% of Peru Block
Wednesday, September 16, 2015 Antilles Oil & Gas farms-out 50% of its acreage in Block 105, onshore Peru, to Uruguayan oil and gas fund Union Group.

Venezuela's OPEC Proposal Focuses on Oil Price, Not Volumes
Wednesday, September 16, 2015 A summit between OPEC and non-OPEC oil producers that Venezuela is proposing should focus on supporting prices rather than limiting volume, the country's oil minister says.

JBIC Inks $252M Loan Deal to Support Petrobras FPSO Project
Tuesday, September 15, 2015 The Japan Bank for International Cooperation inks a $252 million loan deal with Tartaruga MV29 B.V. to support the project to provide a floating production storage and offloading vessel to Petrobras for two offshore oil fields in Brazil.

Petrobras Chairman To Take Leave, To Focus On Job As Vale CEO
Monday, September 14, 2015 Murilo Ferreira will take a leave of absence as chairman of Petrobras, turning his full attention to his job as chief executive of Vale as the mining giant grapples with a downturn in the sector.

Seismic Data over Paraguayan Block is of 'Excellent Quality'
Monday, September 14, 2015 President Energy reports that seismic data acquired over its Hernandarias Block in the Chaco region of Paraguay 'is of excellent quality'.

Argentina's Oil And Gas Output Up In July On YPF Production
Friday, September 11, 2015 Argentina's oil output rose 1.4% and natural gas production was up 1.8% in July on the year, thanks to rising output from YPF, the energy secretariat said.

Brazil's Stocks Fall Amid Bets Petrobras Turnaround Will Fizzle
Friday, September 11, 2015 Petrobras' tumble to a 12-year low put the Ibovespa on pace for a second week of losses.

Petrobras Says Project Financing Unaffected by S&P Downgrade
Friday, September 11, 2015 Petrobras says its financing is sufficient to fund projects in the medium term, despite the downgrade of the company's credit rating by Standard & Poor's.

OPEC, Non-OPEC Countries Study Venezuela's Oil Summit Proposal
Thursday, September 10, 2015 OPEC and non-OPEC countries are studying a Venezuelan proposal for a heads-of-state summit to address low oil prices, according to the energy minister of Qatar.

Maduro: Global Oil Price Should be a Minimum of $70
Tuesday, September 08, 2015 The global price of oil should be a minimum $70 per barrel in order for necessary petroleum investments to be maintained, says Venezuela's President Nicolas Maduro.

EMAS AMC Bags Contract for Angostura Project Offshore Trinidad & Tobago
Tuesday, September 08, 2015 EMAS AMC bags contract from BHP Billiton for the Angostura project offshore Trinidad and Tobago.

Brazil Oilworkers Renew Strike Threat Against Petrobras
Tuesday, September 08, 2015 Brazil's largest oilworkers union federation renew its threat to strike at any time against Petrobras after having recently let other strike warnings lapse.