Regional News: South America
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Argentina-Repsol Deal on YPF Better than Litigation Says Spain
Tuesday, December 03, 2013 Spanish Secretary of State says a deal between Repsol and Argentina over the nationalization of YPF is preferable to a lawsuit.
Canacol Strikes Oil at Colombia Well
Monday, December 02, 2013 The Leon 1 encountered 133 feet of net oil pay within 4 different reservoirs, and Canacol is currently preparing to conduct a series of production tests on the discovery.
Venezuelan Oil Diplomacy Curbed By Economic Crisis
Monday, December 02, 2013 The late President Chavez's dream of leveraging Venezuela's oil wealth to spread revolution across Latin America is crumbling under the weight of an economic crisis.
Brazil Signs Agreement With Oil Consortium
Monday, December 02, 2013 Brazil signs an agreement with a consortium of companies to develop an offshore field under the production-sharing regime that gives the federal, state and municipal govts a 75% stake of the oil extracted.
Media: Britain, Argentina in Fresh Row Over Drilling in Falklands
Friday, November 29, 2013 Argentina triggers a fresh diplomatic row with Britain over the disputed Falkland Islands after the country's Congress passed a law that establishes criminal sanctions for the "illegal exploration" of hydrocarbons in the Argentine continental shelf.
Spain's Repsol Says Board Backs Preliminary YPF Deal
Thursday, November 28, 2013 The board of Spain's Repsol unanimously agrees to start formal talks with Argentina over a compensation offer for assets Buenos Aires seized last year that could end an 18-month standoff between the two countries.
Brazil's OGX Maranhao Changes Name to Parnaiba Gas Natural
Thursday, November 28, 2013 OGX Maranhao, the Brazilian on-shore natural gas producer, has changed its name to Parnaiba Gas Natural, says Eneva SA, one of three companies that owns a stake in the company, in an e-mailed statement.
Argentina Seeks To Jump-Start Shale Drilling With Repsol Deal
Tuesday, November 26, 2013 Argentina says that a pending deal with Repsol is aimed at kick-starting shale drilling, putting an end to the long stand-off between energy investors and President Fernandez.
US Trial Ends Over Ecuador Pollution Judgment Against Chevron
Tuesday, November 26, 2013 An attorney for Chevron accuses US lawyer Steven Donziger of orchestrating an international criminal conspiracy by using bribery and fraud in Ecuador.
OSX Brasil Board Elects Eucherio Rodrigues Chief Executive
Tuesday, November 26, 2013 OSX Brazil, the shipbuilding company controlled by Brazilian tycoon Eike Batista, said that its board of directors elected Eucherio Lerner Rodrigues as chief executive officer.
Petrobras Says Finds 'Good Quality' Oil in Franco Well
Tuesday, November 19, 2013 Petrobras finishes a test well that confirms the presence of "good quality" oil in an offshore field that officials say may rival the giant Libra field auctioned off last month.
Brazil's OGX Considers Legal Steps After Petronas Rescinds $850M Deal
Tuesday, November 19, 2013 OGX, the Brazilian oil producer that filed for bankruptcy protection, is reviewing legal options after Petronas canceled its agreed purchase of a stake in two OGX oil blocks.
Venezuela Sees 2014 Oil Output Steady at 3.1 MMbopd
Wednesday, November 13, 2013 Venezuela will produce an average 3.1 million barrels per day of oil in 2014, roughly similar to this year, Finance Minister Nelson Merentes says.
ANP: Brazil's Franco Oil Field May Rival Libra In Size
Wednesday, November 13, 2013 The Franco field off the coast of southeastern Brazil could have as much or more oil than the massive Libra field that the government last month sold in an auction, oil regulator ANP says.
Venezuela's PDVSA To Go $4.5B Deeper In Debt
Wednesday, November 13, 2013 PDVSA announced a $4.5 billion bond sale, accelerating a steep rise in borrowing in the last year with its second-largest issue that will finance operating expenses rather than investments.
Petrobras Sells Peru Unit to PetroChina/CNPC for $2.6B
Wednesday, November 13, 2013 Petrobras strikes a deal to sell its Peruvian oil and gas assets to PetroChina and its parent CNPC for $2.6 billion.
Ecuador High Court Upholds Chevron Verdict, Halves Fine
Wednesday, November 13, 2013 Ecuador's highest court upheld a verdict that Chevron is responsible for pollution in an Amazon rainforest, but halved the fine imposed in a previous trial, a decision the company dismissed as illegitimate.
Chevron Makes Its Case In Trial Over $19B Ecuadorean Judgment
Tuesday, November 12, 2013
Petrobras Turns On Taps at Papa Terra Field
Tuesday, November 12, 2013 Petrobras starts production at Papa Terra field, located at the south of Campos Basin, with platform P-63, which is connected to well PPT-12.
Venezuela's PDVSA Says To Issue $4.5B In Bonds
Tuesday, November 12, 2013 PDVSA will issue $4.5 billion in bonds next week, Oil Minister Rafael Ramirez says, providing hard currency for the OPEC nation struggling to supply sufficient greenbacks to its economy.
OSX Becomes 2nd Batista Company To File For Bankruptcy
Monday, November 11, 2013 OSX files for bankruptcy protection, becoming the second company controlled by former billionaire Eike Batista to seek court protection from creditors in just over a week.
Batista Flagship OGX To Be Renamed After Bankruptcy
Friday, November 08, 2013 OGX, the Brazilian oil company controlled by former billionaire Eike Batista that filed for bankruptcy protection last month, will likely be renamed Oleo e Gas Brasil SA.
Third 3D Seismic Survey Begins Southeast of Falkland Islands
Friday, November 08, 2013 Noble Energy is conducting the third 3D seismic survey to take place over licenses that are south and east of the Falkland Islands.
Colombia's Ecopetrol Seeks 63% Production Rise By 2020
Friday, November 08, 2013 Ecopetrol says it will spend as much as $75 billion by 2020 to lift oil and gas production to 1.3 million barrels of oil equivalent per day.