Industry Headlines News for South America


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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.

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.

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.

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.

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.

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.

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.

Petrobras CEO: Pre-Salt Oil Extraction Costs $8 Per Barrel
Tuesday, August 08, 2017 Oil extraction in Brazil's promising pre-salt offshore wells costs about $8 per barrel, Petrobras CEO Pedro Parente said at an event in Sao Paulo.

Suriname Signs Offshore Oil Deals with Exxon, Hess and Statoil
Friday, July 14, 2017 Suriname's state oil company Staatsolie said it signed production sharing contracts involving Exxon Mobil Corp, Hess Corp and Statoil ASA for two blocks off the coast of the South American nation.

Venezuela's PDVSA Guarantees Investor Security Amid Uncertainty
Monday, July 10, 2017 PDVSA says in a statement it is guaranteeing "legal security" for all foreign companies in the leftist-run nation.

Brazil's Petrobras Says One Dead In NS 32 Drillship Explosion
Friday, June 09, 2017 Petrobras reports an explosion on the NS 32 drill ship, which is operated by Odebrecht Oleo e Gas, according to a statement.

BP Urges Engineers to Apply for Trinidad & Tobago Graduate Program
Tuesday, May 23, 2017 BP takes to Twitter to call on engineers to apply for graduate program.

Petrobras Resorts To Top Court To Free Divestment Plan
Friday, March 17, 2017 Petrobras has asked the Supreme Court to lift an injunction obtained by an oil workers' union that froze sales of its assets.

Total, Petrobras Seal Strategic Alliance with 'Definitive Contracts'
Wednesday, March 01, 2017 Total and Petrobras sign 'definitive contracts', sealing a strategic alliance between the 2 companies and creating new partnerships in the upstream and downstream sectors.

Minister: Brazil To Lower Oil Industry Local Purchasing Rules By Half
Thursday, February 23, 2017 Brazil's government says it would relax local purchasing rules for the oil industry as of September in an effort to attract foreign investment and lower costs.

Venezuela Names New Leaders At Oil Firm PDVSA To 'Defeat Corruption'
Monday, January 30, 2017 Venezuela's president creates an executive vice president post and names new vice presidents to lead PDVSA in what he described as a shake-up of the state oil company.

Venezuela Will Circulate New Proposal To Support Oil Prices Next Week
Monday, January 16, 2017 Venezuela will next week circulate a new proposal to crude producers in a bid to support oil prices, President Nicolas Maduro said, without providing details.

Peru Says It Will Nix Key Odebrecht Contract If Won Through Bribes
Tuesday, December 27, 2016 Peruvian President Pedro Pablo Kuczynski said he will terminate a $5B natural gas pipeline contract if it is found to have been won with bribes.

Brazilian Court Upholds Injunction On Sale Of Petrobras Oilfields
Tuesday, December 20, 2016 A Brazilian federal court has rejected an appeal by Petroleo Brasileiro SA to allow the state-controlled oil company to proceed with the sale of two oilfields.

Petrobras Signs $5B Chinese Financing And Oil Supply Deal
Friday, December 16, 2016 Petrobras signs definitive terms for a $5 billion, 10-year financing agreement with China Development Bank Corp.

Argentine Oil And Gas Workers To Strike Over YPF Layoffs
Friday, December 02, 2016 Some 23,000 Argentine oil and gas workers will go on a 48-hour strike beginning Monday to protest YPF's decision to lay off workers.

US Said to Be Closing In on PDVSA-Linked Seizures, Charges
Tuesday, October 25, 2016 Federal prosecutors are preparing to charge several individuals and confiscate their property over the alleged looting of Venezuela's state oil company.

Galp Sees Faster Brazil Oil Sector Development With More Access
Monday, October 24, 2016 The opening of new projects in the subsalt areas off Brazil's coast to operators other than the financially strained Petrobras is positive and should speed up development, Galp Energia CEO says.