Ecopetrol has revealed that Colombia has lost 893,000 barrels, or one day’s worth of the country’s production, this year alone because of rebel attacks on the Cano Limon-Covenas pipeline.
Brazil will offer three to four new areas in a pre-salt bid round this year and is preparing a schedule of rounds for the next five to 10 years.
A Brazilian court has overturned an injunction that had stopped Petrobras from selling its 90% stake in a gas transportation company in a deal worth around US$5.2 billion.
Mexico will hold two auctions every year from 2018 with a view to increasing foreign investment in the oil and gas sector, the Energy Ministry said last week.
Ecopetrol has revealed that its 1P reserves have dropped by 14% year on year, reflecting the recent decline in Colombian oilfield investment.
Enagas has announced it will invest US$320 million in its Chilean LNG project to meet the anticipated rapid growth in gas demand in South America.
Mexico faces increased uncertainty over its energy policy following a spat between the US and Mexican presidents, with natural gas supply viewed as being at particular risk.
Total has said it intends to invest US$500 million per year in developing shale resources in Argentina.
Cuba, Mexico and the US have signed an agreement ending a dispute over which country owns the potentially oil-rich Eastern Gap in the Gulf of Mexico.
Brazil anticipates booking US$1.4 billion in signing fees from drillers this year as it holds a series of new bid rounds, according to Energy Minister Fernando Coelho Filho.
Colombia’s state-run Ecopetrol has made a total of US$900 million by divesting non-strategic assets over the last two years.
Petrobras has signed off on a US$5 billion loan from China Development Bank following the signing of a memorandum of understanding (MoU) in February.
Argentina’s state-run energy company YPF reached an agreement last week with its Malaysian counterpart, Petronas, to move forward with a shale oil project in the Vaca Muerta play.
Argentina’s state retirement and pension fund, ANSES, is to finance the construction of a US$85 million pipeline to move oil out of the Vaca Muerta shale play.
Royal Dutch Shell could invest US$10 billion in deepwater projects off the coast of Brazil over the next five years, as the country’s oil sector becomes more open to private investment.