Regional News: South America

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Venezuela PDVSA Awards $3.2B Oil Service Contracts, Protest Brews
Wednesday, September 21, 2016 Venezuela's state oil company PDVSA says it has awarded $3.2 billion in contracts to drill wells in the Orinoco Belt.

UK Subsea Companies Head to Mexico on Showcase Mission
Wednesday, September 21, 2016 UK subsea companies will be heading to Mexico City, from September 26-29, on a showcase trade mission to increase business and trade opportunities in Latin America's most promising energy hubs.

Oil Servicers Looking For Output Boost In Venezuela, PDVSA Says
Tuesday, September 20, 2016 The world's largest oilfield services providers are making plans to help boost output in Venezuela, according to the president of the country's state-run oil company.

Petrobras Cuts Spending, Raises Asset Sales Goal In 5-Year Plan
Tuesday, September 20, 2016 Petrobras cut planned investment by 25% under a five-year plan to reduce its massive debt, and revive investor confidence after a sweeping corruption scandal.

Oil Prices Fall As Venezuela Says Market Is 10% Oversupplied
Tuesday, September 20, 2016 Oil prices fell on Tuesday after Venezuela said that global crude supplies needed to fall by 10% in order to bring production down to consumption levels.


At $500 Million A Pop, It's An Oil Gamble That Has No Precedent
Tuesday, September 20, 2016 In a far corner of the Caribbean Sea, billions of dollars worth of the world's finest oil equipment bobs quietly in the water.

UK, Argentina Governments to Remove Restrictive Oil, Gas Industry Measures
Thursday, September 15, 2016 The British Government and the Government of Argentina have agreed to work towards removing restrictive measures around the South Atlantic and Falkland Islands oil and gas industries.

Brazil's Lula Charged As 'Top Boss' Of Petrobras Graft Scheme
Wednesday, September 14, 2016 Brazilian prosecutors filed corruption charges against former President Luiz Inacio Lula da Silva, his wife and six others in the sprawling Petrobras kickback scandal.

BP's Dudley Favors Argentina Shale Over Costly Texas Permian
Wednesday, September 14, 2016 BP would rather invest in Argentina's shale oil fields than in Texas' Permian Basin, the US drilling hot spot, Chief Executive Officer Bob Dudley said.

Brazil Launches Massive Privatization Plan To Rescue Economy
Tuesday, September 13, 2016 Brazil's new government launches a sweeping plan to auction off licenses in an attempt to boost investment and pull the economy out of the deepest recession in eight decades.

RGU Secures Funding to Help Develop Oil, Gas Workforce in Mexico
Tuesday, September 13, 2016 Robert Gordon University (RGU) in Aberdeen has been awarded funding to create a skills development framework for the oil and gas sector in Mexico.

KOGAS Signs MOU With Brazil's Ceara State On LNG Import Terminal Project
Monday, September 12, 2016 State-run Korea Gas Corp (KOGAS) signs a memorandum of understanding (MOU) with the Brazilian state of Ceara to cooperate on developing an LNG import terminal in Brazil.

GE to Bring Data Analytics to MODEC FPSOs Offshore Brazil
Friday, September 09, 2016 GE will supply and maintain gas turbines for several MODEC FPSOs based offshore Brazil.

Schlumberger WesternGeco, ION Team Up for Mexico Reimaging Program
Thursday, September 08, 2016 Schlumberger WesternGeco and ION Geophysical Corporation announce a new 3D multiclient reimaging broadband program offshore Mexico.

Statoil: Brazil Oil Law Change Key To Attracting Investment
Thursday, September 08, 2016 Statoil sees changes to Brazil's oil industry laws as key for attracting foreign investment, Chief Executive Officer Eldar Saetre says.

Shell Extends MODEC's Contract for FPSO Fluminense to December 2020
Friday, September 02, 2016 Shell extends MODEC's contract for FPSO Fluminense, currently operating in the Bijupira and Salema oil fields in Brazil's Campos Basin to December 2020.

Sinopec Expects Profit from Argentina Unit if Oil Recovers
Friday, September 02, 2016 China's Sinopec says losses from its Argentina unit could be 'greatly reduced' if oil prices rise.

Petrobras Rises Most in Three Weeks After Cutting Workforce
Friday, September 02, 2016 Petrobras rises the most in three weeks after completing a voluntary dismissal program.

Brazil Oil, Gas Output Rises 6.2% In July Versus Year Earlier
Friday, September 02, 2016 Brazil's oil and natural gas output rose 6.2% in July compared with a year earlier.

Cenbank: Ecuador Economy To Shrink 1.7% This Year Due To Quake, Oil
Thursday, September 01, 2016 Ecuador's central bank expects the economy to shrink 1.7% this year.

CEO: Petrobras To Gain $11B On Sale Of Brazil Oil Rights To Statoil
Tuesday, August 30, 2016 The sale of a stake in Carcara to Statoil will gain Petrobras as much as $11 billion to pay debt or invest in other projects.