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Regional News: South America

 
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ExxonMobil Says Hits More Shale Oil, Gas In Argentine Region
Thursday, December 18, 2014 ExxonMobil has struck shale oil and gas at a second well in Argentina's Neuquen province, a region that sits atop Vaca Muerta, one of the world's largest shale resources.

Petrobras CEO Says Rousseff Refused Offer To Resign On Scandal
Wednesday, December 17, 2014 Petrobras may have to resign to avoid further delays of the company's audited 3Q earnings report.

Peru Opens Bidding On Seven Energy Blocks In Amazon
Monday, December 15, 2014 Peru opens international bidding on seven energy blocks in the Amazon that will require a total investment of $3.15 billion, the government says.

Another Former Petrobras Executive Charged In Brazil Scandal
Monday, December 15, 2014 Brazilian prosecutors say they filed criminal charges against another former executive at Petrobras and three other people for alleged involvement in a massive kickback scheme at the state-run oil company.

Executive Says: Permit Delays Slow Total's Brazil Drilling Plans
Monday, December 15, 2014 Environmental permit delays are likely to set back the Brazilian offshore drilling activities of Total about a year, a senior executive says.

  



Colombia's Ecopetrol Board Says To Replace CEO Gutierrez
Friday, December 12, 2014 Ecopetrol will replace CEO Javier Gutierrez after 8 years as it seeks to shift strategy after falling far short of production goals and seeing its stock plummet.

Brazilian Engineering Executives Charged In Petrobras Scandal
Thursday, December 11, 2014 Brazilian prosecutors formally charged executives from six of the country's largest engineering firms with forming a cartel to funnel kickbacks from Petrobras to the ruling political party and its allies.

Colombia Expects Oil Firms To Invest $8B In New Wells In 2015
Thursday, December 11, 2014 Oil companies are expected to invest $8B to drill 1,086 development wells in existing fields in Colombia next year, the National Hydrocarbons Agency says.

Minister: Brazil Govt Plans Petrobras Asset-Backed Debt Offer
Thursday, December 11, 2014 The Brazilian government is working on a plan to help embattled Petrobras borrow money through an offering of asset-backed securities before year end, Mines and Energy Minister Edison Lob„o says.

Exec: Brazil's Govt Needs to Show Restraint to Promote Shale Development
Thursday, December 11, 2014 Texas-based energy executive offers his take on how Brazil can capitalize on its unconventional oil and gas resources.

Argentina Says Inks $550M Shale Exploration Deal With Petronas
Wednesday, December 10, 2014 YPF has ratified a preliminary $550 million deal with Malaysia's Petronas to explore for oil in the South American country's Vaca Muerta shale formation, YPF said in a statement.

Experts: Shale Success Demands Local Focus, Predictability, Education
Wednesday, December 10, 2014 Pennsylvania-based geologist and attorney offer insights on what measures countries aspiring to develop shale plays should implement.

Brazil Top Prosecutor Says Petrobras Management Should Go
Wednesday, December 10, 2014 Brazil's prosecutor-general Rodrigo Janot calls for the replacement of Petrobras' top management and punishment of everyone involved in a scheme to funnel kickbacks from contracts to politicians.

Brazil: How to Import a Shale Revolution
Tuesday, December 09, 2014 Brazil needs more diverse sources of electricity. Domestically produced shale gas could help the country reach this goal.

Modec Commences Charter for FPSO Cidade de Mangaratiba MV24 in Santos Basin
Monday, December 08, 2014 Modec announces the commencement of a charter for FPSO Cidade de Mangaratiba MV23 at BM-S-11 block in Santos Basin, offshore Brazil.

Preparation Underway for Kangaroo-2 Production Testing in Santos Basin
Thursday, December 04, 2014 Karoon Gas making preparations for production testing at Kangaroo-2 appraisal well in Block S-M-1165 in Brazil's Santos Basin.

Petrobras Finds Gas at Orca-1 Well in Colombia's Offshore Tayrona Block
Wednesday, December 03, 2014 Petrobras makes gas discovery at Orca-1 exploratory well in Tayrona Block offshore Colombia.

Modec-Schahin JV to Supply FPSO for Petrobras' Campos Basin Block BM-C-36
Tuesday, December 02, 2014 The Modec-Schahin joint venture bags a contract from Petrobras to supply a floating production, storage and offloading vessel for the BM-C-36 block in the Campos Basin, offshore Brazil.

Andes Achieves Oil Production Test on Vaca Muerta Wells
Tuesday, December 02, 2014 Andes Energia successfully completes an oil production test of its VG x-1 well in Argentina's Vaca Muerta formation.

Former Petrobras Director Says Graft Scheme Widespread In Brazil
Tuesday, December 02, 2014 A former Petrobras executive at the center of an alleged multibillion-dollar graft scheme involving the company said that similar bribery and kickback schemes are prevalent in many Brazilian projects.

Delta SubSea Mobilizes ROV System for Venezuela Pipelay Survey
Monday, December 01, 2014 Delta SubSea mobilizes an entire ROV system for pipelay survey operations in Venezuela.

Argentina Shale Sees Investment Inflows Despite Oil Price Slump
Monday, December 01, 2014 Royal Dutch Shell and Total will invest $550 million with Gas and Oil Neuquen (GyP), an energy company owned by the Argentine province of Neuquen, to develop two shale oil and gas pilot projects.

President Energy Revises Terms of Puesto Guardian Purchase
Monday, December 01, 2014 President Energy makes deal that relieves it of actual and contingent liabilities of $12.88 million relating to its purchase of the Argentina's Puesto Guardian concession.

Cidade de Ilhabela FPSO Achieves First Oil at Sapinhoa Field Development
Monday, November 24, 2014 SBM Offshore says its Cidade de Ilhabela FPSO vessel is formally on hire after achieving first oil at the Sapinhoa field development offshore Brazil.

Brazil's Petrobras Says Received US SEC Subpoena For Documents
Monday, November 24, 2014 Petrobras says it received a subpoena from the US Securities and Exchange Commission asking for documents relating to an investigation it is pursuing.

Petrobras Says 2nd Libra Well Confirms Good Quality Oil
Monday, November 24, 2014 Petrobras completes drilling of the first extension well in the massive Libra field off the coast of Rio de Janeiro, confirming good quality oil, according to a filing.

Technip Wins Brazilian Flexible Pipe Deal
Friday, November 21, 2014 French oilfield services firm Technip wins a deal to supply high-tech flexible pipes to the Iracema North pre-salt field offshore Brazil.

Brazil's Rousseff Struggling to Limit Petrobras Scandal's Damage
Friday, November 21, 2014 President Dilma Rousseff expects a bribery scandal at state-run oil company Petrobras to deteriorate in coming months, aides say, with arrests possible for some political allies and potentially serious damage to an economy that is already struggling.

Minister: Venezuela Willing To Cut Oil Output Along With OPEC
Thursday, November 20, 2014 Venezuela would be willing to cut its own oil production if OPEC decides to limit output when it meets on Nov. 27, Foreign Minister Rafael Ramirez says.

Source: Petrobras Probe Finds Corruption, One Executive Fired
Wednesday, November 19, 2014 Petrobras fires one executive for corruption and identifies about 15 other employees involved in irregular contracts with suppliers, a source familiar with the situation says.

Karoon Updates on Drilling at Kangaroo-2 Appraisal Well in Santos Basin
Wednesday, November 19, 2014 Karoon Gas provides update on drilling at Kangaroo-2 appraisal well in Block S-M-1165 block, Santos Basin, Brazil.