Regional News: South America
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Brazil's ANP: Libra Holds 8-12B Barrels of Recoverable Oil
Thursday, May 23, 2013 Brazil will sell a prospect estimated to hold between 8 to 12 billion barrels of recoverable crude oil at its first-ever pre-salt auction in October, ANP says.
Brazil to Hold First Pre-Salt Oil Exploration Auction in October
Thursday, May 23, 2013 Brazil will hold its first auction of pre-salt oil exploration acreage under the country's new production-sharing regime in October, one month earlier than expected.
PdVSA to Receive $1.5B Loan from Rosneft for Oil Joint Venture
Thursday, May 23, 2013 PdVSA and Rosneft signs deals to boost production at a new joint venture in the South American country's vast Orinoco heavy oil belt.
Brazil's OSX Cuts Workforce Amid Broader Reorganization
Wednesday, May 22, 2013 OSX Brasil has laid off more than 300 employees as part of a broader reorganization plan to reduce spending and focus on hard orders.
CFO: Petrobras May Sell Euro-Denominated Bonds in 2013
Wednesday, May 22, 2013 Petrobras could sell a euro-denominated bond in 2013 as part of efforts to raise an additional $9B from capital markets this year, Chief Financial Officer Almir Barbassa says.
Chevron, YPF Sees Argentina as Possible Shale-Oil Pioneer
Thursday, May 16, 2013 Just as US companies have revolutionized the global shale-gas industry, businesses working in Argentina have the opportunity to set new standards in shale-oil production, according to YPF and Chevron.
Petrobras BP, Among Winners in Brazil's 11th Bidding Round
Thursday, May 16, 2013 Petrobras, BP and Total rank among companies winning exploration blocks offshore Brazil in the nation's 11th bidding round, the first since December 2008.
YPF, Chevron Move Closer to $1.5B Shale Oil Deal
Wednesday, May 15, 2013 YPF and Chevron move closer to finalizing an agreement that would see the US energy company invest $1.5 billion to develop shale oil deposits in the South American country.
Statoil Awarded 6 Licenses Offshore Brazil
Wednesday, May 15, 2013 Statoil wins six offshore licenses in Brazil's 11th licensing round.
HRT Plans New Exploration, Production Wells at Polvo Field
Wednesday, May 15, 2013 HRT plans a new exploration campaign at the offshore Polvo heavy oil field the company acquired earlier this month, Chief Executive Milton Franke says.
Brazil's First Oil Auction in Five Years Draws Record Bids
Tuesday, May 14, 2013 Brazil saw record bidding at its first oil auction in five years as the growing promise of oil finds along the equator attracted huge interest in exploration blocks at the mouth of the Amazon River.
ANP Says China's CNOOC Pulls Out of Brazil Oil-Concession Auction
Tuesday, May 14, 2013 CNOOC pulls out of an auction of oil and natural gas exploration concessions in Brazil, the country's ANP says.
Petrobras Launches Sale of Bonds to Raise $11 Billion
Monday, May 13, 2013 Petrobras begins its enormous 2013 financing campaign with one of the largest bond issues this year.
HRT Names Milton Franke New Chief Executive
Monday, May 13, 2013 HRT says that Milton Franke will take over as chief executive, completing an unexpected management shakeup at the firm.
Brazil Seeks to Expand Oil, Gas Investment with 11th Bidding Round
Thursday, May 09, 2013 ANP Director Magda Chambriard reports significant interest in Brazil's upcoming 11th bidding round as Brazil pursues plans to double its oil and natural gas production.
Karoon Gas Increases Size of Oil Discovery Offshore Brazil
Thursday, May 09, 2013 Karoon Gas boosts size estimate of its Bilby-1 oil discovery off the coast of Brazil, increasing the likelihood of a commercial development.
Shell Spuds Third Well in French Guiana Program
Wednesday, May 08, 2013 Northern Petroleum announces that GM-ES-4, the third well of the current four well exploration program in the Guyane Maritime Permit (French Guiana) has been spud by Shell.
Petronas to Buy Stakes Offshore Brazil from OGX at $850M
Wednesday, May 08, 2013 Petronas is the latest Asian state-owned oil company to snap up significant stakes in overseas oil-and-gas assets.
Brazil OGX's April Oil Output Plummets as Well Repairs Continue
Tuesday, May 07, 2013 OGX says that crude oil production plunged in April as the company continues to repair equipment at the Tubarao Azul offshore oil field.
Brazil's OGX Close to Sale Of Oil Field Stake to Petronas
Monday, May 06, 2013 OGX could announce as soon as Tuesday the sale of a 40% stake in the Tubarao Martelo oil field for around $850 million to Petronas.
Chevron's Frade Output to Remain Limited Until Analysis
Monday, May 06, 2013 Activity and production at the Frade field will be limited until the company and regulators gain a complete understanding of the second of two subsea spills that took place there, Brazil's oil regulator says.
Brazil's HRT Buys 60% Stake in Offshore Polvo Oil Field from BP
Monday, May 06, 2013 HRT says it will acquire a 60% stake in the offshore Polvo heavy oil field from the local unit of BP for $135 million.
Karoon Finds Oil Offshore Brazil, Shares Jump
Sunday, May 05, 2013 Karoon Gas makes its second significant oil discovery offshore Brazil, sending its shares soaring as much as 28% and increasing the possibility of finding another partner to share development costs.
Venezuela: Contracts Could Be Canceled if Output Demands Not Met
Friday, May 03, 2013 Venezuela's government could revoke contracts of 10 small partner companies in the nationalized oil industry if they fail to meet the state's demands to increase production.
Sete Brasil Remains in Talks with OSX to Build Two Drilling Rigs
Friday, May 03, 2013 Shipbuilder OSX Brasil, part of billionaire entrepreneur Eike Batista's industrial empire, remains in the hunt to build two drilling rigs for Sete Brazil.
Petroamerica Succesfully Drills Las Maracas in Colombia
Friday, May 03, 2013 Petroamerica succesfully drills its Las Maracas-9 well in Colombia.
Brazil's Oil Boom Requires Skilled Professionals
Tuesday, April 30, 2013 Brazil's job market and the upcoming round of bidding for offshore oil and gas concessions create a positive landscape for job seekers.
Madalena Reports Shale Resource Potential at Argentina Basin
Tuesday, April 30, 2013 Madalena provides information on its unconventional shale resources on its three land blocks within the Neuquen basin, Argentina.
Petrobras Sees 2014 Crude Oil Production 'Significantly Higher'
Monday, April 29, 2013 Petrobras expects crude oil production to surge in 2014 as the company ramps up output on seven new production platforms that will be installed this year, Jose Miranda Formigli says.
Petrobras First-Quarter Profit Slides, but Beats Estimates
Sunday, April 28, 2013 Declining crude-oil production undercut 1Q net profits at Petrobras, but recent increases to domestic fuel prices and a shift to greater imports of crude oil helped the company beat analysts forecasts.
Brazil's ANP Qualifies Two More Companies for Oil, Gas Auctions
Friday, April 26, 2013 ANP says that two more names have been added to the list of oil companies approved to participate in a much-anticipated auction of oil and natural gas exploration concessions next month.
Ecuador's Minister of Nonrenewable Natural Resources Resigns
Wednesday, April 24, 2013 Wilson Pastor, Ecuador's minister of nonrenewable natural resources, tenderes his resignation to President Rafael Correa.