ExxonMobil increases Guyana estimates by two billion barrels, makes another discovery
ExxonMobil has increased its estimated recoverable resources in Guyana by two billion barrels after a hot streak of discoveries at the prolific Stabroek block.
South America
Guyana’s plans to raise oil royalties could ‘diminish attractiveness’
Guyana’s plans to raise oil and gas royalties may “diminish attractiveness” to future investors, according to new analysis.
Echo chief executive steps aside
South-America-focused Echo Energy said today that its chief executive would be stepping down from the role at the end of the year.
Echo says new well strengthens case for developing Argentine field
South-America-focused Echo Energy said today that its new well in Argentina had strengthened the commercial case for a field development.
Echo offers blank canvas for new chief executive
Fiona MacAulay is staring at a blank canvas.
Amerisur confirmed Mariposa well spudded
South America's Amerisur has confirmed its Mariposa-1 well in Columbia has been spudded.
Amerisur pins hopes on pipeline to reverse 2015 loss
Amerisur Resources, the oil and gas producer and explorer focused on South America, recorded a pre-tax loss in 2015 of $25million, compared to a $47million profit the year before.
President makes new board appointment
South America focused President Energy has appointed former Repsol and Petrobras engineer Jorge Dario Bongiovanni as a non-executive director of the company.
Rame inks South American power deals
Independent power producer Rame Energy has signed a number of commercial agreements and a contract to sell two existing Chilean projects under development to InterEnergy Holdings.
Union Oil and Gas acquires latest Peruvian block
Union Oil and Gas Group has taken a majority stake in a high-potential oil and gas block in Peru as part of its expansion plans in Latin America.
Andes Energia clears first debt hurdle
Andes Energia today confirmed it had successfully cleared its first repayment for its $5million debt facility package with Macquarie Corporate Holdings.
Sales boost helps TCO expand its workforce
TCO said it has expanded its workforce by a third after strong sales results for the company. The well completion technologies provider has employed eight new members of staff within the past six months for its UK base, including a new managing director. Paul Betteridge was appointed in March in response to company growth and to focus on TCO’s international expansion.
Mexico licensing auction: Too little, too late?
Mexico may have missed the mark in opening up its energy market to foreign investors as the oil price decline continues to hit, according to a leading expert. Derek Leith, UK head of oil and gas taxation at EY, said the fall in oil price may be a deciding factor in the historic auction for 14 licences in the South American country. Mexico has made the bold move as its rebounds from a decade long decline in oil production. It is estimated there has been an overall loss in that time of around a million barrels of oil per day.
Pemex to miss first round of Mexico oil tender
Mexican state-owned energy giant Pemex will not be participating in round one of the country’s historic energy opening. The move was revealed by Mexican energy minister Pedro Joaquin Coldwell. The initial tenders are part of an opening which is aimed at helping to bring more private investment into the country’s oil and gas sector.
Statoil submit plans for second phase of Brazilian Peregrino project
One of Norway's biggest oil and gas companies has submitted plans for the second phase of their Brazilian offshore project. Statoil, in partnership with Sinochem, submitted a plan of development to the South American's country's National Agency of Petroleum, Natural Gas and Biofuels (ANP) in Rio de Janeiro on January 30.