Colombia needs to pursue a much more aggressive oil exploration strategy in order to avoid highly contested fracking activities or an increase in gas prices as a result of importing, according to GlobalData. The leading data and analytics company...
(Reuters) - Preferred shares in Brazil's Petrobras jumped almost 10% on Thursday, after the state-controlled oil company smashed second-quarter margin estimates and announced 31.6 billion reais ($6.15 billion) in extraordinary dividend payments.
Petroleo Brasileiro SA, as the company is formally...
SBM Offshore said Tuesday it has signed a Letter of Intent with Petróleo Brasileiro S.A. (Petrobras) for a 22.5-year lease and operate contract for FPSO Alexandre de Gusmão. The unit will be deployed at the Mero field in the...
(Reuters) - Brazilian President Jair Bolsonaro said on Friday evening that state-controlled company Petroleo Brasileiro SA, known as Petrobras, has 3 billion reais ($575.5 million) to fund free LPG bottles to low-income people that cannot afford them.
Liquified petroleum gas...
TotalEnergies and Apache Corporation have encountered oil in the Sapakara South-1 well on Block 58 off the coast of Suriname. This announcement follows previous discoveries at Maka Central, Sapakara West, Kwaskwasi and Keskesi.
Located 4 kilometers south-east of the Sapakara...
Shell Trinidad and Tobago says production has started on Block 5C in the East Coast Marine Area (ECMA) in the twin island republic. This marks a significant milestone in the delivery of gas both domestically and internationally through Atlantic...
The results of Suriname’s keenly watched shallow-water licensing round where three of the eight offered blocks were awarded to international big-name companies will soon lead to a flurry of activity off the country’s coast.
One block was awarded to Chevron...
(S&P Global Platts) Crude production by private operators in Mexico reached a new record in June as state oil company Pemex struggles to stop the decline of its own output, official data shows.
Independent exploration and production companies increased their...
The companies that were successful in the recently concluded Suriname bid round are now to submit their exploration work programme the head of state oil company, Staatsolie Maatschappij Suriname N.V. told OilNOW.
Chevron Exploration Suriname Limited and a consortium consisting of...
The Council on Foreign Relations
Written by Amelia Cheatham and Rocio Cara Labrado
Venezuela’s descent into economic and political chaos in recent years is a cautionary tale of the dangerous influence that resource wealth can have on developing countries.
Venezuela, home to...
