Regional News: South America

 
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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.

UK Says Argentine Plan to Seize Falklands Oil Driller Assets 'Unlawful'
Monday, June 29, 2015 The UK government says any attempt by Argentina to seize assets of oil drillers operating in the Falkland Islands would be unlawful after an Argentine judge's order is made against six firms.

Petrobras Slashes Capex In Bid To Cut Debt, Restore Confidence
Monday, June 29, 2015 Petrobras slashes its long-term spending plan to the lowest level in 8 years as new management moves to reduce the industry's largest debt burden and pull the company out of a giant corruption scandal.

Swire Oilfield Services Secures 5 Year Contract with Weatherford in Brazil
Monday, June 29, 2015 Swire Oilfied Services secures a five year contract with Weatherford in Brazil.

Minister: Argentina Will Pursue Judge Order on Falklands Drillers
Sunday, June 28, 2015 Argentina will pursue in Britain and the US a local judge's order to seize assets of oil drillers operating in the disputed Falklands Islands, the foreign minister says in an interview with local media.

  


Petrobras Urges Dismissal Of US Lawsuit Over Corruption Probe
Thursday, June 25, 2015 Petrobras urges a US judge to throw out an investors' class action lawsuit claiming a multibillion-dollar bribery scandal overvalued it for years.

Peru Agrees to Study Pacific Outlet for Bolivian Natgas Exports
Wednesday, June 24, 2015 The presidents of Peru and Bolivia agree to study a project that would allow landlocked Bolivia to ship its natural gas, a key export, to Asia from Peru's Pacific coast.

Singapore Shipbuilders Alleged to Be Part of Brazil Bribe Scheme
Tuesday, June 23, 2015 Singaporean shipbuilders Keppel Fels and Jurong Shipyard are sinking deeper into a graft scandal that has transfixed Brazil and buffeted local oil industry suppliers.

Petrobras CEO Is Shutting Up Critics But Big Challenges Remain
Friday, June 19, 2015 For Petrobras investors battered by years of mismanagement, a new CEO went from villain to hero in a matter of weeks. The critical question now: Can he keep his reformist streak going -- and with it a strong rally in Petrobras shares?

Powerful Brazilian CEO Arrested In Petrobras Graft Probe
Friday, June 19, 2015 Brazilian police have arrested Marcelo Odebrecht, head of Odebrecht, and accused his family-run conglomerate of spearheading a $2.1 billion bribery scheme at Petrobras.

Galp: Cosco and BJC to Build Petrobras Oil-Platform Units
Thursday, June 18, 2015 China's Cosco and Thailand's BJC Heavy Industries have won a contract to build 24 natural-gas compressors for six oil platforms being built by Petrobras and its partners in two giant offshore oil areas, one of those partners says.

Sources: Petrobras Cuts Delayed Until July and Govt Oil-Policy Plan
Tuesday, June 16, 2015 Petrobras will likely delay details of major cuts to its $221 billion five-year spending plan until July, two sources say, when the government plans to announce a rescue program for the industry.

Argentina's Oil Output Up Yr/Yr In April For First Time In 2015
Monday, June 15, 2015 Argentina's oil output rose in April thanks to increased production by YPF, the government said, marking the first year-on-year monthly increase in 2015.

FOGL Spuds Humpback Well
Monday, June 15, 2015 Falkland Oil and Gas Limited (FOGL) announces that the Humpback exploration well, offshore the Falkland Islands, was spud on June 13, 2015.

Union: Brazil's Petrobras Stops Platform Output After Gas Leak
Monday, June 15, 2015 Petrobras stops production from its P-40 platform in the offshore Marlim Sul field after a gas leak on the vessel, an oil workers' union said on its website.

Petroperu Plans $2.7B In Global Bonds, Sees 2015 Profit
Friday, June 12, 2015 Petroperu plans to issue $2.7 billion in global bonds, likely with a 30-year maturity, by the end of November to finance expansion of its main refinery.

Brazil's Petrobras Unlikely To Finish Investment Plan By June 26
Wednesday, June 10, 2015 It will be "very difficult" for Petrobras to finish and present its 2015-2019 investment plan to its board of directors by June 26, a company official says.

Mayor: Petrobras Close to Suspending Contract for Two Platforms
Tuesday, June 09, 2015 Petrobras is close to suspending a contract for the construction of two production platforms in Rio Grande, a coastal town in southern Brazil, the town's mayor says.

MX Oil and Geo Estratos Express Formal Interest in Mexico's Bid Round One
Tuesday, June 09, 2015 MX Oil and local partner Geo Estratos become formally listed as interested parties in phase three of Mexico's Bid Round One by the Comission Nacional de Hydrocarburos.

Venezuela Demands Guyana Halt 'Imperial' Oil Exploration
Tuesday, June 09, 2015 Venezuela demanded that neighboring Guyana halt oil exploration being carried out by ExxonMobil in disputed offshore territory.

Pilfering Data Shows Stakes Are High in Colombia Offshore Quest
Friday, June 05, 2015 Untapped offshore deposits are so important to Colombiaís flagging oil industry that some people arenít waiting for the release of exploration results.

Falkland Oil Driller to Press on Despite Argentina Legal Threat
Friday, June 05, 2015 Falkland Oil and Gas plans to continue drilling into next year, its chief executive said, defying legal threats made by the Argentine government against oil explorers in the Falkland Islands.

FOGL States Exploration Well in Humpback Prospect Will Spud Within 2 Weeks
Friday, June 05, 2015 Falkland Oil and Gas CEO Tim Bushell announces at the Shore Capital Exploration & Production Conference in London that an exploration well will be spud on the Humpback prospect in the next two weeks.