Regional News: South America

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Official: Argentina To Boost Crude Oil Output To 653,000 Bpd By 2025
Friday, May 27, 2016 Argentina aims to eliminate its need for crude imports while increasing domestic oil output to 653,000 barrels per day (bpd) in 2025, a 23 percent increase from 2015, an official from the Energy Ministry says.

Brazil's Petrobras To Name Parente As CEO On Monday
Friday, May 20, 2016 Petroleo Brasileiro SA will meet on Monday to formalize the nomination of Pedro Parente as chief executive, replacing Aldemir Bendine.

Brazil Regulator Renews Two Petrobras Offshore Leases For 27 years
Wednesday, May 18, 2016 Brazilian petroleum regulator ANP says it extended state-run oil company Petrobras' concessions to explore and produce oil from the Marlim and Voador offshore fields for 27 years, to 2052.

Sembcorp Marine's Unit EJA Completes First Repair Job at its Brazil Yard
Wednesday, May 18, 2016 Sembcorp Marine's unit Estaleiro Jurong Aracruz completes its first vessel repair project at its yard in Brazil.

ERCE: Sea Lion Complex Could Hold 1.7B Barrels of Oil
Tuesday, May 17, 2016 The Sea Lion Complex in License PL032 in the Northern Falkland Basin has been independently estimated by ERC Equipoise Limited to hold 1.7 billion barrels of oil in place.


CGG Qualifies as Mexican Reserves Auditor
Tuesday, May 17, 2016 CGGVeritas Services de Mexico S.A becomes one of only "a small number of companies" to be registered by Mexico's NHC as an independent third party qualified to audit and certify Mexico's reserves.

O Globo: Former Bunge Brasil CEO Parente Picked To Run Petrobras
Tuesday, May 17, 2016 Brazil's interim President Michel Temer has decided to appoint engineer and former Bunge executive Pedro Parente to be chief executive of ailing state-run oil company Petrobras, O Globo newspaper reports.

Petrobras Vows To 'Cut Cholesterol' After Third Quarterly Loss
Friday, May 13, 2016 Brazil's state-controlled oil company Petrobras is advancing asset sales to reduce the biggest debt load in the oil industry after three quarters of straight losses.

LGO Energy Starts Production from New GY-50 Interval
Thursday, May 12, 2016 LGO Energy plc announces that production has now started from a new interval in well GY-50 at the Goudron Field in Trinidad.

Japan's MOL Agrees Deal to Provide FSRU to Uruguay's Gas Sayago
Thursday, May 12, 2016 Japan's Mitsui O.S.K Lines agreed to a charter contract with Gas Sayago for a floating storage and regasification unit to be deployed in Uruguay.

Range Resources Limited to Drill MD 250 Follow-up Well
Thursday, May 12, 2016 Following "highly encouraging results" from the recently drilled MD 250 well in Trinidad, Range Resources Limited will drill a follow-up development well from the same drilling pad, named MD 51-2.

Source: Brazil To Open Subsalt To Some Non-Petrobras Oil Operators
Wednesday, May 11, 2016 Brazil plans to publish rules allowing companies other than state-run Petrobras to operate some oil production-sharing contracts in offshore Subsalt Polygon blocks, a source participating in discussions of the rules told Reuters.

Petrobras Seeks $1 Billion China Loan Faster Than Planned
Monday, May 09, 2016 Brazil's state-controlled oil company Petrobras is seeking a $1 billion loan from the Export-Import Bank of China before originally planned as its debt service costs surge in the coming years amid the worst oil market in a generation.

OTC 2016: Guyana's Investment Appeal Gets a Boost from Liza Oil Discovery
Thursday, May 05, 2016 Investment in Guyana's oil and gas sector gets a boost from the offshore Liza discovery.