South America News


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Natgas Exporting Countries Convene As Global Buyers' Market Rises
Tuesday, November 21, 2017 Top officials of major gas producing countries are meeting this week in Bolivia.

Petrobras Seals $1B Financing From Banks, Repays $500MM Debt
Friday, November 17, 2017 Brazilian state-controlled oil company Petroleo Brasileiro secures $1B in financing from a banking syndicate headed by Standard Chartered PLC.

Guyana-Suriname Basin Emerges as a Hotbed of Oil, Gas Exploration
Friday, November 17, 2017 Oil exploration in the Guyana-Suriname basin has stepped up following ExxonMobil's major discovery there.

Petrobras CEO Says To Discuss Refining Partnership With CNPC CEO
Wednesday, November 15, 2017 Petrobras CEO Pedro Parente said he will meet this month with the CEO of China National Petroleum Corp.

Venezuelan Oil Output Heads to 29-Year Low as Cash Crunch Grows
Friday, November 10, 2017 Venezuela is set to pump the least oil in almost three decades, just when it needs petrodollars the most.

US Oil Service Firms Face Hit from Venezuela Debt Restructuring
Monday, November 06, 2017 The companies' services are critical for Venezuela.

LyondellBasell Approaches Brazil's Braskem for Takeover-WSJ
Monday, October 30, 2017 A deal would help LyondellBasell expand in Latin America, where Braskem is the biggest petrochemicals company.

Shell Wins Three Oil Blocks In Brazil's Deepwater
Friday, October 27, 2017 Shell won half the blocks awarded in Brazil's deepwater oil auction.

Venezuela State Oil Company Says It Made Vital Bond Payment
Friday, October 27, 2017 Venezuela's state-run oil company said it transferred the funds to make an $842 million principal payment on its bonds due Friday.

Venezuelan, State Oil Firm Bonds Drop Over Payment Concerns
Thursday, October 26, 2017 Bonds issued by PDVSA drop sharply amid concerns on cash-flow problems and regulatory hurdles.

Argentina's YPF To Invest $21.5B From 2018 To 2022
Wednesday, October 25, 2017 YPF plans to invest $21.5 billion in the country from 2018 to 2022.

CEO: Brazil's Petrobras Could Bid On More Blocks In Pre-Salt Auction
Tuesday, October 24, 2017 Petrobras could bid on more blocks in an auction of Brazil's pre-salt offshore area this week.

Venezuela's Deteriorating Oil Quality Riles Major Refiners
Friday, October 20, 2017 PDVSA is increasingly delivering poor quality crude oil to major refiners in the United States, India and China.

$800 Million Gas Pipeline Proposed As Argentina Preps For Shale Boom
Friday, October 13, 2017 Gas transporter TGS, controlled by Pampa Energía, has proposed an $800 million pipeline and gas treatment plant in Argentina's Vaca Muerta shale fields, a company source says.

Buyers Eye Sinopec's Argentina Oil Assets in Sale Worth Up to $1B - Sources
Monday, October 09, 2017 Two sources said the Sinopec assets would be a tough sell.

Ecuador to Offer Oil Blocks Under New Bidding Terms in Jan
Friday, October 06, 2017 The new terms will allow producers to be paid in oil and enable them to export or sell the barrels to local refineries, said Carlos Perez at a conference at Rice University in Houston on Friday.

Argentina Plans Auction for Offshore Oil Exploration Next Year
Thursday, October 05, 2017 Argentina plans to auction offshore oil and gas exploration rights next year, in the hope of developing fields off its Atlantic coast like those in neighboring Brazil, the energy minister said.

Brazil Regulator Allows Petrobras To Source Libra Rig Hull From Abroad
Wednesday, October 04, 2017 ANP approves a request by the consortium exploring the potentially oil-rich Libra area.

Venezuela Confirms Discussing Citgo Collateral Swap With Rosneft
Wednesday, October 04, 2017 PDVSA is negotiating to swap Russian oil producer Rosneft's collateral in Venezuelan-owned, Citgo, adding that results are expected 'very soon.'

Brazil Oil Regulator Clears Four More Companies In Presalt Rounds
Tuesday, October 03, 2017 ANP authorizes four more companies to bid in auctions for exploration and production rights in the presalt region off the Brazilian coast.

Exxon's Big Bet on Brazil Oil Could Signal Major Pre-salt Role
Friday, September 29, 2017 Exxon has spent heavily this year on oil and natural gas expansion projects to replenish its diminishing reserves.

Exxon Mobil Bets on Brazil, Buys 10 Oil Blocks in Auction
Thursday, September 28, 2017 Exxon Mobil Corp vastly expanded its presence in Brazil on Wednesday.

Brazil's Prized Santos Basin Receives Single Bid In Oil Auction
Wednesday, September 27, 2017 Brazil's recent auction signals low global oil prices may have reduced the allure of potential new crude and gas investments in Latin America's largest economy.

Total Makes Foray Into Exxon's Exploration Hotbed Offshore Guyana
Tuesday, September 26, 2017 Total has agreed to pay $1 million for an option to buy a 25% stake in an oil exploration block offshore Guyana.

Peru Crude Oil Pipeline Resumes Operation After Year Of Spills
Tuesday, September 26, 2017 A crude oil pipeline operated by Petroperu became fully operational following repairs.

US Not Ruling Out Possible Oil Embargo on Venezuela -Haley
Friday, September 22, 2017 "There's a lot of support in Latin America to see Venezuela start to respect its people and go back to the democracy it's supposed to be," said UN Ambassador Nikki Haley.

Venezuelans Face Growing Queues To Buy Gasoline
Thursday, September 21, 2017 Venezuelan drivers are facing growing queues to buy gasoline despite having the world's largest oil reserves.

Petrobras CEO Says Transfer Of Rights Talks Still Ongoing
Wednesday, September 20, 2017 It is unclear when talks will conclude with the government on a revaluation of stakes in offshore oil blocks known as 'Transfer of Rights' areas, a Petrobras executive says.

Oil Cargoes Shift Away Venezuela As Hurricanes Extend Disruptions
Monday, September 18, 2017 Shippers are sending oil cargoes originally bound for Venezuela to other spots in Latin America and the Caribbean, in advance of coming hurricanes.

Petrobras To Sell $2 Billion In Bonds, Replace Costlier Debt
Monday, September 18, 2017 Petrobras will issue up to $2 billion in new bonds as part of a plan to repurchase shorter-dated, expensive securities

Venezuela Publishes Oil Prices In Chinese Currency For First Time
Friday, September 15, 2017 Venezuela published the price of its oil and fuel in Chinese currency for the first time.

Venezuela's Crude Supply To The United States Was Flat In August
Wednesday, September 13, 2017 Venezuelan crude sales to the US in August were largely unchanged at 638,935 bpd compared with the prior month, but continued to fall far short of year-earlier levels.

Fifteen Oil Majors Interested In Brazil's Round 3 Pre-Salt Auction
Monday, September 11, 2017 Fifteen companies have pre-registered for Brazil's third auction of oil exploration rights in the pre-salt area.

Indigenous Mapuche Thwart Argentina Shale Development
Friday, September 08, 2017 Indigenous Mapuche communities demanding cash payments and blocking oil wells in Vaca Muerta are threatening the long delayed development of the shale fields, oil companies say.

Exxon Mobil Plans $200 Mln Investment in Argentina's Vaca Muerta
Friday, September 01, 2017 The company reportedly has asked the government of Neuquen province for a 35-year unconventional production concession.

Venezuela Probing 'Spectacular' Overpricing In Orinoco Oil Contracts
Thursday, August 31, 2017 Venezuela's new chief prosecutor is investigating 'spectacular' overpricing in a dozen contracts in the nation's Orinoco oil belt.

Brazil Regulator Rejects Total Study On Drilling At Amazon River Basin
Tuesday, August 29, 2017 Brazil's environmental regulator Ibama says it has rejected Total's environmental study on drilling in the Foz do Amazonas basin.

Argentina's YPF CEO Resigns, 6-Member Exec Committee To Run Firm
Monday, August 28, 2017 YPF controls large swathes of the Vaca Muerta shale play in southwestern Argentina, one of the world's largest unconventional oil and gas fields.

Petrobras Sends Information On Northeast Brazil Fields To Potential Bidders
Monday, August 28, 2017 Petrobras has provided additional information on several fields in northeast Brazil to potential bidders, according to a Monday securities filing.

Statoil, YPF To Explore Shale Oil, Gas In Argentina
Friday, August 25, 2017 Statoil signs a deal with YPF to jointly explore for onshore shale oil and gas resources in the Vaca Muerta formation.

Venezuela's Maduro Swaps Oil Minister And PDVSA President
Friday, August 25, 2017 Venezuelan President Nicolas Maduro names Oil Minister Nelson Martinez as the head of state oil company PDVSA.

Brazil to Crack Down on Ships Sold Into 'Toxic' Scrap Trade
Thursday, August 24, 2017 Brazilian regulators are planning to strengthen rules to prevent exporters from selling aging ships to buyers who offload the vessels in South Asia's controversial coastal scrapyards.

Venezuela's IOUs Pile Up, Keeping US Oil Servicers in Tow
Wednesday, August 23, 2017 For Schlumberger and Halliburton the road to payment for services in Venezuela is increasingly long and winding.

US Soyoil, Fuel Credits Jump On Duties For Argentina Biodiesel Imports
Wednesday, August 23, 2017 US soyoil prices jumped 1.8% while biomass-based diesel fuel credits also gained on expectations.

Petrobras Says Test Production In Libra Area To Start In Weeks
Tuesday, August 22, 2017 Oil production from the first rig to operate in Brazil's offshore Libra area should start in late September or October.

Ex-Petrobras CEO Bendine Charged With Corruption In Brazil
Tuesday, August 22, 2017 Brazilian prosecutors charge Aldemir Bendine, the former chief executive of Petrobras with corruption.

Venezuela's Oil Company Says 'Financial Blockade' Hurts Payments
Friday, August 18, 2017 A US-led 'financial blockade' has hurt PDVSA's capacity to collect payment for crude cargoes

Brazil Extends Customs Perks For Oil Industry Through 2040
Friday, August 18, 2017 Brazil extended through 2040 a preferential customs regime for the oil and gas industry called Repetro.

Report: Petrobras, Brazil Dispute Transfer Of Rights Worth $30B
Friday, August 18, 2017 Brazil's government and Petrobras are locked in a dispute over the value of offshore oil blocks involving an estimated $30 billion.

Colombia's Ecopetrol Names New CEO, Echeverry Resigns
Thursday, August 17, 2017 Ecopetrol says its current vice-president, Felipe Bayon, will take over as chief executive.

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