Regional News: South America

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Premier, Noble Terminate Contract for Eirik Raude Rig
Friday, February 12, 2016 Premier Oil and its partner, Noble Energy, decide to terminate their contract for Eirik Raude after several technical issues with the rig.

Subsea 7, National Oilwell Varco Secure Sea Lion FEED Contracts
Thursday, February 11, 2016 Subsea 7 and National Oilwell Varco secure services contracts in connection to the Sea Lion development, which is located offshore the Falkland Islands.

Swiber Completes Subsea Pipeline Installation Project Off South America
Thursday, February 04, 2016 Swiber Holdings completes a subsea pipeline installation project offshore South America.

CGG Awarded Colombian 3D Seismic Survey Extension
Wednesday, February 03, 2016 CGG receives an extension to a 3D seismic survey it successfully completed on the Caribbean coast offshore Colombia late last year.

Peru Says Will Cut Royalties In Current Oil Contracts By July
Wednesday, February 03, 2016 Peru plans to lower the royalty payments it receives from oil companies by July in order to help them survive the oil price crisis and might allow some to postpone part of their payments, the country's energy agency, Perupetro, says.


Ecopetrol Dividend Policy Seeks to Prevent Slide Into Junk
Tuesday, February 02, 2016 Colombia’s state-controlled Ecopetrol SA will pursue a dividend policy this year designed to safeguard the company’s investment grade rating amid the slump in oil prices.

Former Petrobras Exec Sentenced Over Vantage Drilling Contract
Monday, February 01, 2016 A Brazilian judge sentences the former head of state-run oil company Petrobras' international division to 12 years and two months in jail for corruption and money laundering, part of the country's largest-ever graft investigation.

Petrobras Slashes Oil Reserves to Lowest Level in 14 Years
Friday, January 29, 2016 Brazil's state-controlled oil producer Petrobras slashes its oil and natural gas reserves 20 percent, hit by a plunge in energy prices, a heavy debt load, high costs and a corruption scandal.

Petrobras Cuts Management, Streamlines As It Fights Graft, Oil Drop
Thursday, January 28, 2016 Brazil's Petrobras says it will cut about one in five management jobs, streamline operations and boost oversight as the state-led oil company adapts to low oil prices and tries to boost confidence after a corruption scandal.

Range Resources Ltd CEO Resigns
Wednesday, January 27, 2016 Range Resources Limited's chief executive officer and Trinidad general manager has resigned from the company, effective January 31, 2016.

Range Resources Ltd Production, CAPEX in Decline
Wednesday, January 27, 2016 Range Resources Limited's CAPEX and average daily oil and gas production decreases during 4Q 2015.

IBP: Brazil Oil Rules Block $120B in Investment
Tuesday, January 26, 2016 Brazil's lack of clear rules for the unitization of oilfields is delaying the development of as many as 10 billion barrels of oil and gas and about $120 billion of investment, Jorge Camargo, head of Brazil's oil industry association, IBP, says.

SBM Agrees Settlement over Brazilian Bribery Allegations
Monday, January 25, 2016 SBM CEO Bruno Chabas and board member Sietze Hepkema agree to settlement with Brazilian Public Prosecutor over bribery allegations.

Venezuela Urges OPEC And Non-OPEC Producers To Meet In February
Thursday, January 21, 2016 Venezuela Oil Minister Eulogio del Pino says low prices were not covering production costs in the country and proposed OPEC and non-OPEC producers meet in February.

Petrobras Halts Oil, Natgas Platform Output For Second Time In 8 Days
Thursday, January 21, 2016 Petrobras stopped output from its P-31 oil and natural gas production ship in the Albacora Field northeast of Rio de Janeiro for the second time in 8 days.

MX Oil Implements Leadership Changes
Monday, January 18, 2016 MX Oil makes 3 new appointments to its board and management team, including Nicholas Lee as the company's non-executive chairman.

Shale Pioneer McClendon Joins $500M Argentina Venture
Friday, January 15, 2016 Aubrey McClendon's American Energy Partners and YPF, Argentina's largest company, have signed a joint venture to develop shale gas from the country's Vaca Muerta formation.

Petrobras Says To Speed Up Asset Sales; Bailout 'Last Resort'
Friday, January 15, 2016 Petrobras is confident it can sell $15 billion in assets by year-end to pay off debt and limit further cuts to its investments as oil prices tumble to 12-year lows, executives say.

Brazil Seeks Deals With 10 Companies In Petrobras Scandal
Thursday, January 14, 2016 The Brazilian comptroller general's office is negotiating leniency deals with 10 companies implicated in the Petrobras corruption scandal and expects them to be concluded within the next six months.