Production News for South America


Results 22 articles shown

Saudi Cuts Oil Output As OPEC Points To 2019 Surplus
Monday, August 13, 2018 OPEC forecast lower demand for its crude next year as rivals pump more and said top oil exporter Saudi Arabia, eager to avoid a return of oversupply, had cut production.

OPEC Oil Output Climbs as Saudi Arabia Pumps Near Record
Thursday, August 02, 2018 OPEC's crude output increased last month as Saudi Arabia pumped near-record volumes.

Reuters Survey: OPEC July Oil Output Hits 2018 Peak, But Outages Weigh
Monday, July 30, 2018 OPEC oil output has risen this month to a 2018 high as Gulf members pumped more after a deal to ease supply curbs and Congo Republic joined the group, a Reuters survey found.

Offshore Guyana Block Could Require Five FPSOs
Monday, July 23, 2018 The estimated recoverable resources for the Stabroek Block offshore Guyana has risen by at least 25%.

Saudi Aramco CEO Says Has 2 Million Barrels Per Day Of Spare Capacity
Monday, June 25, 2018 Oil giant Saudi Aramco says it has a spare capacity of 2 million barrels per day and can meet additional oil demand in case of any interruption in supplies.

WoodMac: New Regulations to Help Boost Brazil's Pre-Salt Oil Production
Wednesday, June 20, 2018 A new report by Wood Mackenzie finds that Brazil's new local content policy can speed up the deployment of FPSO units.

Sources: US Asks OPEC Producers To Pump More Oil, No Specific Figure
Tuesday, June 05, 2018 The US government has unofficially asked Saudi Arabia and some other OPEC producers to raise oil output.

OPEC's Reason for Sticking With Cuts Rests on Shaky Ground
Wednesday, May 02, 2018 OPEC and Russia seem determined to keep on cutting production even after their campaign to rebalance world oil markets achieved its main target.

UAE Says Most Countries In Oil Cut Deal Like Idea Of Long-Term Alliance
Thursday, April 12, 2018 A majority of the OPEC and independent oil producers participating in a current deal to cut supply like the idea of a long-term producers' alliance, the energy minister of the United Arab Emirates says.

Chile's ENAP, Argentina's YPF Inaugurate $354MM Offshore Gas Project
Wednesday, April 04, 2018 The state-run energy firms of Chile and Argentina said they had inaugurated a $354 million project to increase production of natural gas.

Ecuador Seeks $800MM Investment In Oil And Gas Bid
Wednesday, March 14, 2018 Ecuador launches a bidding round for foreign companies to develop oil and gas reserves.

Down Is Up as Aging Oil Fields Defy Gravity to Pump More
Friday, March 09, 2018 Bob Dudley has never seen anything like what happened with BP's old fields last year: They gushed more crude.

IEA: Surge In Global Oil Supply May Overtake Demand In 2018
Tuesday, February 13, 2018 The rise in global oil production, led by the US, is likely to outpace growth in demand this year, IEA says.

ExxonMobil's Reserves Jump 19% On Growth In US Shale, UAE
Friday, February 09, 2018 ExxonMobil says its oil and gas reserves surged 19% last year, thanks to growth in US shale, the United Arab Emirates and Guyana.

Canada's Frontera Suspends Work At Colombia Oilfield After Attacks
Monday, February 05, 2018 Frontera Energy has suspended operations at its Cubiro oilfield in northeastern Colombia after threats and attacks against workers, the company said.

Crisis-Hit Venezuela's Oil Output Plummets In 2017 To Decades Low
Thursday, January 18, 2018 Venezuela's crude oil production fell nearly 13% last year, according to figures released by OPEC.

Petrobras Reaches Deal With Modec For Libra Platform
Monday, December 18, 2017 Brazil's Petroleo Brasileiro SA has closed a deal with Japan's Modec Inc, which will build and operate a platform for oil production in the nation's Libra block.

Total Says Brazil's Giant Libra Oil Field Produces First Oil
Monday, November 27, 2017 French oil and gas company Total says oil was flowing for the first time from the giant Libra oil field in Brazil.

Colombia's Ecopetrol To Invest Up To $4B In 2018
Wednesday, November 22, 2017 Ecopetrol will invest between $3.5 billion and $4 billion during 2018, the majority in production and exploration projects.

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.

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.

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.