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Regional News: South America

 
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Argentina Launches Lawsuit against Falkands Oil Drillers
Friday, April 17, 2015 Argentina begins legal proceedings against five companies, including three UK firms, that are drilling for oil and gas offshore the Falkland Islands.

Petrobras Discovers Oil, Gas in Brazil's Amazon and Espirito Santos Basins
Friday, April 17, 2015 Petrobas finds oil and gas at Block AM-T-84 in the Amazon Basin in Brazil and discovers oil at Block ES-T-495 in the Espirito Santo Basin.

Watchdog: Nearly Half Colombia Oil Companies At Risk Of Insolvency
Thursday, April 16, 2015 Forty-three percent of companies in Colombia's oil sector are at high risk of going bankrupt as the industry reels from the recent halving of oil prices, according to a recent survey.

Petrobras Says Has No Plans to Sell Sub-Salt Oil Fields
Thursday, April 16, 2015 Petrobras says it has no plans to sell sub-salt oilfields in a divestment program aimed at shoring up its finances.

Brazil's Petrobras Confirms Productivity Within Sergipe Oil Basin
Thursday, April 16, 2015 Petrobras says that tests confirm light crude and good productivity levels at its reserves in the Farfan area at the Sergipe basin, a large oil frontier off the country's northeast coast.

  



For Petrobras CEO, It's One Problem Down and Many More to Come
Thursday, April 16, 2015 Petrobras' new chief executive officer is close to overcoming his first major hurdle: getting auditors to approve financial results.

Argentina's YPF Sees Cost Of Vaca Muerta Drilling Falling 10%
Thursday, April 16, 2015 The cost of drilling wells in Argentina's vast but barely tapped Vaca Muerta formation will fall at least 10% by the end of 2016, Miguel Galuccio, YPF CEO, says.

Venezuela Oil Minister Meets OPEC Nation Ambassadors
Wednesday, April 15, 2015 Venezuela says ambassadors of various OPEC countries are meeting the country's oil minister Asdrubal Chavez in Caracas.

MODEC Secures Japanese Partners in Petrobras FPSO Project
Tuesday, April 14, 2015 Three Japanese partners join MODEC to provide a floating production, storage and offloading vessel to Petrobras for the Tartaruga Verde and Tartar Mestica oil fields offshore Brazil.

Subsea 7 Bags $200M Contract from Petrobras for Offshore Brazil Projects
Tuesday, April 14, 2015 Subsea 7 bags $200 million contract to install flexible lines for Petrobras' oil and gas projects offshore Brazil.

Brazil Real Rises As Petrobras Board To Review Financial Results
Tuesday, April 14, 2015 Brazil's real climbs for the first time in 4 days as Petrobras indicates it is moving closer to publishing financial results.

Falklands Oil Drillers Scale Back after Price Slump
Monday, April 13, 2015 Oil explorers drilling in the Falkland Islands shelve plans to drill a second well in the southeast Falklands following the steep drop in oil prices.

Karoon Gas Finds Hydrocarbons at Echnida-1 Well in Brazil's Santos Basin
Monday, April 13, 2015 Karoon Gas finds hydrocarbons at Echidna-1 exploration well in Block S-M-1102m, Santos Basin, offshore Brazil.

Brazil's Rousseff Says Petrobras Has Cleaned Up Corruption
Thursday, April 09, 2015 Petrobras has purged corrupt managers and put a graft scandal behind it, while hitting record output levels from off-shore deposits, Brazil's President Dilma Rousseff says.

YPF: Argentina's Vaca Muerta Shale Output Rises To 45,000 Bpd
Thursday, April 09, 2015 Argentina's crude oil output from the vast but barely-tapped Vaca Muerta shale formation increases to between 44,000 and 45,000 bpd.

Argentina Says Plans Lawsuits Against UK Oil Firms Near Falklands
Thursday, April 09, 2015 Argentina says it will begin legal action against British energy firms operating near the Falkland Islands, in a growing war of words over the disputed South Atlantic territory.

Seaway Inks T&I Contract for Venezuela's Offshore Perla Project
Thursday, April 09, 2015 Seaway Heavy Lifting inks deal with Cardon IV to transport and install gas production platforms for the Perla project offshore Venezuela.

SBM Denies $1.7B Settlement with Brazil over Bribery Scandal
Wednesday, April 08, 2015 SBM Offshore refutes an article in the Brazilian press that it has agreed a $1.7-billion settlement with Brazilian authorities over a bribery scandal.

Board Member: Petrobras May Vote On Audited Accounts April 17
Wednesday, April 08, 2015 Petrobras' board will likely review and possibly vote on the state-run oil company's audited financial statements, delayed because of a corruption scandal, at a meeting April 17.

Petrobras Minority Shareholders Nominate New Members For Board
Tuesday, April 07, 2015 Petrobras makes a series of nominations for positions on the company's board of directors and finance committees, the company said in a securities filing.

Colombia's Ecopetrol To Focus On Offshore Exploration, Key Fields
Tuesday, April 07, 2015 Ecopetrol will cope with falling oil prices by bolstering exploration offshore, as well as focusing on production of high-yield wells, the company's new president Juan Carlos Echeverry says.

Colombia's Cano Limon Oil Pipeline Halted By Bomb Attack
Monday, April 06, 2015 Colombia's Cano Limon oil pipeline has been shut down following a bomb attack on Sunday evening, Ecopetrol says.

Brazil's Engevix Takes Step Towards Petrobras Leniency Deal
Friday, April 03, 2015 Engevix Engenharia says it has made progress towards signing a leniency deal with the country's comptroller general.

Zebedee Springs Oil, Gas near the Falkland Islands
Thursday, April 02, 2015 Premier and Rockhopper announce the success of the Zebedee well offshore the Falkland Islands, with a hydrocarbon discovery of 136 feet of net pay.

Petrobras Sells its Austral Basin Assets in Argentina to CGC for $101M
Wednesday, April 01, 2015 Petrobras disposes of its assets in the Austral Basin, Santa Cruz province, Argentina to Compania General de Combustibles for $101 million.

Brazil Comptroller Probes Five More Contractors In Petrobras Scandal
Wednesday, April 01, 2015 Brazil's office of the comptroller general says it added another 5 construction and engineering firms to an investigation of contractors that allegedly participated in a corruption ring at Petrobras.

Brazil Govt Names Vale CEO Ferreira To Head Petrobras Board
Friday, March 27, 2015 Brazil's government selects Murilo Ferreira, the chief executive officer of miner Vale, to head the board of state-run Petroleo Brasileiro.

Petrobras Names BNDES Head Coutinho As New Chairman
Thursday, March 26, 2015 Petrobras names Luciano Coutinho, the head of Brazil's state development bank BNDES, as its new chairman.

Petrobras Confirms Presence of Hydrocarbons at C1 Well in Santos Basin
Wednesday, March 25, 2015 Petrobras confirms presence of hydrocarbons at C1 well in Libra block in Santos Basin, offshore Brazil.

Olinda Star Semisub to Drill Kangaroo West-1 Well in Santos Basin Soon
Friday, March 20, 2015 The Olinda Star semisub will move to drill the Kangaroo West-1 exploration well in Block S-M-1165 in Santos Basin, offshore Brazil after completing work at the Kangaroo-2 appraisal well.

Petrobras Halts Giant Production Unit As Safety Problems Found
Friday, March 20, 2015 Petrobras says it shut its P-58 offshore oil production ship after ANP found irregularities on board the vessel, one of the company's most important offshore production systems.

Source: China to Lend Venezuela $10B in Coming Months
Friday, March 20, 2015 China will lend Venezuela around $10 billion in coming months, half as part of a bilateral financing deal and the other half for the development of oil fields, a senior official at PDVSA says.

CGG Bags Anadarko's Contract for 3D Seismic Survey Off Colombia
Thursday, March 19, 2015 CGG bags contract from a subsidiary of Anadarko to conduct 3D seismic survey on the Caribbean coast offshore Colombia.

Brazil Comptroller to Probe More Contractors in Petrobras Scandal
Thursday, March 19, 2015 Brazil's Comptroller-General Office adds another six construction and engineering firms to an investigation of contractors that allegedly participated in a corruption ring at Petrobras.