News
February 24, 2025
Chevron's presence in Venezuela has helped lift the nation’s crude production back above 1 million bpd, in turn boosting the local economy. Now U.S. President Trump is poised to leverage this to get what he wants from Venezuelan President Nicolás Maduro.
News
February 21, 2025
The African Export-Import Bank (Afreximbank) has announced plans to establish a $1 billion oil service financing facility in Guyana. This initiative aims to enhance local participation in the country’s fast growing oil industry, in alignment with the government's local content policies.
News
February 20, 2025
Ecopetrol SA sees “great potential” for E&P activity in Colombia alongside bets on U.S. fracing and offshore gas. Ecopetrol has full ownership of the CPO-09 block in Colombia's oil-rich eastern plains after completing its $452 million acquisition of Repsol SA’s 45% stake.
News
February 20, 2025
Exxon Mobil Corp. outlined plans to increase natural gas production from Guyana and is considering export options, country manager Alistair Routledge said, citing pressure from the government to do more with the natural gas that’s found alongside its crude.
News
February 19, 2025
SBM Offshore announced that its FPSO Almirante Tamandaré is formally on hire as of February 16, 2025 after achieving first oil and the completion of a 72-hour continuous production test leading to Final Acceptance.
News
February 17, 2025
Petrobras began production from the FPSO Almirante Tamandaré (Búzios 7) on Feb. 15, 2025 in the Búzios field, located in the pre-salt layer of the Santos Basin. This is the first high-capacity unit to be installed in the field, with the potential to produce up to 225,000 bpd.
News
February 13, 2025
Petrobras has requested authorization from Brazil’s environment protection agency to prepare a drilling rig for work at a disputed offshore exploration project, a sign that the state-controlled producer is optimistic about overcoming licensing hurdles.
News
February 10, 2025
Petro-Victory Energy has signed a sales & purchase agreement (SPA) in 50/50 partnership with Azevedo & Travassos Petroleo (ATO) for 13 oil fields located in the Potiguar Basin, onshore Brazil, from seller Brava Energia.
News
February 06, 2025
(Bloomberg) – Ecopetrol SA shares plunged after Colombian President Gustavo Petro called on the oil producer to sell its operations in the U.S., citing his government’s position against fracing, which he says is destructive to nature and humanity.
News
February 03, 2025
Abyss Solutions has signed a research and development contract with Petrobras. The partnership focuses on the development of an innovative image contextualization and enrichment service capable of aggregate engineering and operational metadata.
News
February 03, 2025
Baker Hughes has won a multi-year contract with ExxonMobil Guyana to provide all topsides, subsea, water injection and utility chemicals for the Errea Wittu and Jaguar FPSO vessels. The offshore developments feature combined 500,000 bpd capacity.
News
January 30, 2025
Halliburton has been awarded a contract with Petrobras for integrated drilling services across several offshore fields in Brazil. The contract scope includes drilling services for development and exploration wells over a three-year period.
News
January 23, 2025
(Bloomberg) – Argentina scored its widest annual energy trade surplus in nearly two decades in 2024 thanks to booming oil and gas production in the country’s Vaca Muerta shale patch. It’s forecast to do even better this year.
News
January 23, 2025
Salunda has integrated its Red Zone monitoring solutions on four drilling rigs in Guyana with Intellilift’s proven digital technologies to deliver automated location and control of critical equipment and personnel.
News
January 12, 2025
Prosafe has signed a contract extension with Petróleo Brasileiro S.A. (Petrobras) for the provision of the Safe Zephyrus semi-submersible vessel for safety and maintenance support offshore Brazil.
News
January 07, 2025
(Bloomberg) – Hess Corp. expressed confidence in prevailing in arbitration brought by Exxon Mobil Corp. over a massive oil project in Guyana's Stabroek block. The legal outcome will prove key to advancing the stalled $53 billion Hess-Chevron merger.
News
January 07, 2025
Petro-Victory Energy has announced a strategic partnership with Blue Oak Investments aimed at acquiring Exploration and Production (E&P) assets and companies in Brazil and Latin America.
News
January 01, 2025
Petrobras has released a news statement regarding a Brazilian government enacted law which addresses the possibility of transfer of local content surpluses among contracts in exploration and production of oil and natural gas.
News
December 31, 2024
(Bloomberg) – Guyana’s President Irfaan Ali on Tuesday firmly ruled out formally asking Exxon Mobil Corp. to renegotiate its production contract, resisting calls from his political opposition and activists in the country.
News
December 30, 2024
Ecopetrol S.A. announces that they have successfully concluded negotiations with Repsol to acquire the remaining 45% of its stake in block CPO-09. Ecopetrol is now the sole owner of this strategic asset in the Piedemonte Llanero.
Article
December 2024
Traditional producing countries in Latin America continue to stagnate, despite their great potential. However, to balance this scenario, non-traditional countries, such as Argentina, Guyana and Suriname, will attract new and important investments in the short and medium term to increase oil and gas production.
