Regional News: South America

 
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Petrobras, Galp, QGEP, Barra Confirm Large Brazil Oil Discovery
Friday, May 29, 2015 Petrobras, Portugal's Galp and Brazilian oil companies QGEP and Barra Energia have confirmed that the giant Carcara offshore find extends far beyond the initial discovery, Barra says.

Venezuela, Russia's Rosneft Agree On $14B Oil, Gas Investment
Thursday, May 28, 2015 Venezuela and Russia's top oil producer, Rosneft, have agreed on around $14 billion in investment in the South American OPEC country's oil and gas sector, President Nicolas Maduro says.

Galp, Petrobras Return Caramba Oil Prospect
Thursday, May 28, 2015 Galp Energia and Petrobras return the Caramba oil block to Brazil's ANP regulator after finding it is not commercially viable.

Soiled by Oil Scandal, Brazil's Model Is Primed for Makeover
Thursday, May 28, 2015 Crisis and disappointment in the oil sector are beckoning Brazil's leadership.

Isobel Deep Hits Oil North of the Falklands
Thursday, May 28, 2015 Premier Oil announces that oil has been discovered at the 14/20-1 Isobel Deep well in the North Falkland Basin.

  


Petrobras Abandons Deepwater Prospect In Brazil's Top Region
Wednesday, May 27, 2015 Petroleo Brasileiro abandons exploration at the Caramba prospect in a deepwater region that holds the country's biggest discoveries.

Brazil Petroleum Group Suggests Changes to National-Content Rules
Tuesday, May 26, 2015 IBP releases a list of suggestions for regulatory changes that it hopes will boost exploration activity in the wake of falling oil prices, high costs, delays and a graft scandal at Petrobras.

Liza Discovery Could Put Guyana on Oil, Gas Map
Friday, May 22, 2015 ExxonMobil's Liza discovery offshore Guyana could put the country on the map as a player in the global oil and gas industry, Wood Mackenzie reports.

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.

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.

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.

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.