Colombia sees gain in Venezuela’s pain


As neighboring Venezuela collapses, Colombia is hoping to lure oil majors with an unprecedented bidding system: Producers can propose drilling anywhere, at any time, and the country will look into it.

Oil & Gas

Petrobras oil dispute to total $18bn in state payout


Petrobras is expected to receive more than $18 billion from a mixture of government and private sources as payment for oil reserves, people familiar with the matter said, potentially resolving a dispute that has dragged on since 2013.


New Petrobras boss swears off subsidies, government intervention


The new head of Brazil’s state-controlled oil company criticized its history of government interference and vowed to pursue policies that will boost profit, echoing a wider pledge by President Jair Bolsonaro to reduce the state’s role in Latin America’s largest economy.

Oil & Gas

Driller wins $622 million arbitration award


An international tribunal has determined that Petrobras, Brazil's state-run oil company, is liable to pay $622 million to settle a contractual dispute with a deepwater drilling contractor operating out of Houston.