Colombia’s majority state-owned oil company Ecopetrol on Friday reported an attack against a pipeline used to transport crude from the La Cira Infantas oil field to the Andean country’s most Continue Reading
Colombia on Friday signed exploration and production contracts for four off-shore blocks with energy company Anadarko, a subsidiary of Occidental Petroleum Corp , with expected investment commitments of $1.4 billion. Continue Reading
Exxon has increased its estimate of the discovered recoverable resource for the Stabroek Block off Guyana to around 10 billion oil-equivalent barrels after striking oil there one more time. Supermajor Continue Reading
The stench of gasoline burned through Verónica Barboza’s nose as she stood by the edge of Lake Maracaibo, one of the largest lakes in South America, on a recent afternoon. Continue Reading
Brazilian state-controlled oil company Petróleo Brasileiro SA said Monday it had completed overhauls to its compliance program, bringing to a close a settlement agreement with U.S. authorities over a vast Continue Reading
Argentina’s government is under significant pressure to bring the country’s oil industry back to life It is hoped that new reforms in the sector will bring in some much needed Continue Reading
Despite huge oil reserves waiting to be tapped, the ongoing sanctions on Venezuelan oil and the current state of politics and the economy are driving international oil majors away from Continue Reading
The United States is giving $247 million in humanitarian aid and $89 million in economic and development aid to Venezuelans, State Department spokesman Ned Price said in a statement on Continue Reading
The Brazilian subsidiary of Royal Dutch Shell (RDSa.L) will invest 3 billion reais ($565 million) in renewable energy in the country through 2025, executives said on Tuesday. Most of the Continue Reading
Since the controversial 1899 decision which set the border between Venezuela and Guyana, Caracas has repeatedly contested the ruling, claiming the 61,000 square miles west of the Essequibo river belongs Continue Reading
OPEC’s secretary general, Mohammad Sanusi Barkindo, visited the Bolivarian Republic of Venezuela at the invitation of its government to celebrate OPEC’s 61st anniversary. OPEC has announced that its secretary general, Continue Reading
Argentina’s government has unveiled a bill to promote investment in oil and gas in the country with the ultimate goal to boost hydrocarbon production from its key shale play and Continue Reading
The COVID pandemic has wreaked considerable damage on the economies of South America’s smaller fiscally fragile countries, with the former Dutch colony of Suriname hit especially hard. During 2020 the Continue Reading
Venezuela’s heavy oil project reserves will be left stranded as international players divest their interest, according to GlobalData. Venezuela’s heavy oil project reserves will be left stranded as international players Continue Reading
The United States on Friday extended its protection of Venezuelan-owned U.S. refiner Citgo Petroleum Corp (PDVSAC.UL) from possible seizure by creditors through Jan. 21, 2022, according to a notice on Continue Reading
ExxonMobil has made another oil discovery on the Stabroek Block offshore Guyana, its 20 th significant crude discovery on the block, the U.S. supermajor and its partner on the block, Continue Reading
In a little over a decade Latin America’s largest economy Brazil has become a leading global oil producer. At the end of 2020, Brazil was not only pumping the most Continue Reading
Venezuela’s near-collapse and strict U.S. sanctions are creating an opportunity for Russia, Iran and China to strengthen their presence in Latin America, a region that for decades has been under Continue Reading
The oil-dependent South American country Ecuador, which left OPEC in January 2020 to avoid production quotas, has embarked on an ambitious plan to double its oil output. The tiny Andean Continue Reading
The China National Petroleum Corporation is preparing to return to Venezuela after the Maduro government finalizes legislation seeking to attract more foreign capital to the industry. According to a Bloomberg Continue Reading
Crude output in Venezuela’s key Orinoco oil belt plunged by a quarter to less than 300,000 barrels per day (bpd) in August due to a shortage of diluents needed to Continue Reading
Brazil’s Mines and Energy Minister Bento Albuquerque on Tuesday warned that the country’s energy crisis was worse than previously thought, as a record drought hampers hydropower generation. In a televised Continue Reading
The oil market has come through some tough sledding the last 6-8 weeks as doubts about the commitment of OPEC+ to the newly agreed output limits, and the surging Delta Continue Reading
Conflict-torn Colombia’s economically crucial oil industry continues to labor under the pressure of an array of threats. After being severely impacted by the pandemic oil output in the Andean country Continue Reading
Japanese oil company Inpex Corp sold two Venezuelan oil and gas assets to Caracas-based Sucre Energy Group, three people familiar with the transaction said, as multinational firms retreat from the Continue Reading
Venezuela’s socialist government sees the swap it made last week of shares in a Dominican oil refinery for defaulted bonds as a possible model for future deals, as it seeks Continue Reading
Refiner Citgo Petroleum, the U.S. subsidiary of Venezuela’s state-held oil firm PDVSA, expects to play a “bridge” role in a Venezuelan transition once U.S. sanctions are lifted, and could help Continue Reading
As Brazil’s oil industry looks set to soar over the next decade, with the potential to provide almost a quarter of the world’s offshore oil by 2025, Big Oil is Continue Reading
Brazil is in talks with Argentina about potentially building a $5-billion natural gas pipeline from the Argentinian Vaca Muerta shale play, Brazilian President Jair Bolsonaro said during his weekly live Continue Reading
Scheduled maintenance at the Panama Canal’s Miraflores Locks Aug. 29-Sept. 10 could severely impact canal capacity and extend transit delays for “days, if not weeks after completion,” shipping sources have Continue Reading
Experienced crude oil marketer wanted Guyana is expected to pick its new crude oil marketer from a list of 15 companies that submitted bids to the procurement authority of the Continue Reading
Guyana and Suriname, the new stars on the oil map, are expecting more exploration drilling over the next two years after a string of discoveries revealed the potential of the Continue Reading
Wildfires in the southern Amazon last year and in the nearby Pantanal region were the worst on record, mainly due to the deadly combination of drought and human activity. These Continue Reading
Brazil is hoping to attract oil majors to new deepwater projects that would employ low-carbon extraction technology, Reuters has reported , citing country officials. According to unnamed sources, Exxon, TotalEnergies, Continue Reading
Guyana will develop its massive oil and gas discoveries with full environmental protections, a top official told a U.S. energy conference on Tuesday, pushing back against calls for energy providers Continue Reading
Refiner Citgo Petroleum, the U.S. subsidiary of Venezuela’s state-held oil firm PDVSA, reported this week a net income for the second quarter, its first quarterly profit since the third quarter Continue Reading
Negotiations for Venezuela’s November 2021 regional elections, which are being brokered by Norway, kicked off this week in Mexico. The talks between the authoritarian regime of Nicolas Maduro and opposition Continue Reading
Post-FARC peace treaty violence is at an all-time high with 2021 on track to be the most violent year in Colombia in a decade. Massacres and violent crimes, including the Continue Reading
The aggressive push to decarbonize the world economy is forcing big oil to examine how the carbon emissions of its operations can be reduced with a goal of becoming carbon Continue Reading
After being rocked by a harsh 2020 where the March 2020 oil price collapse and the coronavirus pandemic sharply impacted operations Colombia’s economically vital petroleum industry is struggling to recover. Even attempts Continue Reading
The threat of peak oil demand arriving sooner than predicted and the aggressive push to decarbonize the world economy in a post-Paris Agreement world is creating considerable uncertainty for the Continue Reading
Venezuela will remove six zeros from the bolivar in another attempt to save a currency that has been wracked by years of hyperinflation. The central bank said it plans to Continue Reading
The strife-torn South American nation of Colombia was rocked by anti-government protests which commenced in late April 2021 and lasted for roughly two months. By mid-May 21 road blockades had Continue Reading
Despite a near economic collapse, shattered petroleum industry infrastructure and empty government coffers, Venezuela’s oil minister Tareck El Aissami continues to talk-up the prospects of the OPEC members crude oil Continue Reading
The global push to substantially reduce carbon and other fossil fuel emissions is expected to sharply impact demand for fossil fuels. It will eventually trigger a phenomenon known as peak Continue Reading
French TotalEnergies and Norwegian Equinor will exit their oil joint venture with PDVSA, Bloomberg has reported , citing unnamed sources familiar with the matter. TotalEnergies held a 30-percent stake in Continue Reading
Highlights Two wells drilled simultaneously on Stabroek block Encountered 246 feet and 167 feet of net pay Adds to block’s 9 billion boe total resource estimate An ExxonMobil-led consortium has Continue Reading
Venezuela is ignoring U.S. sanctions with its plan to boost production to 1.5 million bpd by the end of the year, around three times the current output. A document has Continue Reading
Highlights Pilot planned on two blocks Project seen opening new opportunities in shale play YPF also to invest in tertiary recovery YPF, the biggest oil producer and second for natural Continue Reading
While the COVID-19 pandemic and 2020’s oil price collapse hit Argentina’s hydrocarbon sector hard, leading to some analysts to claim that it may never fully recover , there is evidence Continue Reading
