South America

Deepwater , Subsea

Subsea Services Market Expected to Top $7 Billion in 2023

Rystad Energy sees increased brownfield activity driving a 20% increase in projected spend in the subsea services market in 2023.

January 31, 2023

Energy Transition

Enphase Energy Sees Growing Solar Demand in Brazil

Installments of residential solar energy systems in Brazil have increased according to distributors of Enphase microinverters.

January 30, 2023

Crude Oil , Policy & Regulations

Venezuela Tightens Oil Prepayment Rules, Documents Show

Venezuelan PDVSA launched an extensive audit of supply contracts to prevent buyers from skipping out on oil payments under the company's new CEO, Pedro Tellechea.

January 30, 2023

Crude Oil , International

Chevron's 5th and 6th Cargoes of Venezuelan Oil Soon to Depart

Chevron's supply contract is among a few that have not been suspended after last week's PDVSA-ordered freeze on most contracts until a general audit is done.

January 26, 2023

Markets , Policy & Regulations , Shale Plays

Argentina Pumps Record Shale Oil as Vaca Muerta Takes Off

As one of Latin America's mid-range oil producers, Argentina has pledged to reverse 2022's $5 billion energy deficit to a surplus of around $12 billion by 2025.

January 25, 2023

Business , Exploration & Production , Field Development , Policy & Regulations

E&P Highlights: Jan. 23, 2022

Here’s a roundup of the latest E&P headlines including first gas from an Oman field and new contract awards from the past week in the upstream oil and gas industry.

January 23, 2023

Exploration & Production , Joint Ventures

Frontera, CGX Start Drilling Wei-1 Well in Guyana

The joint venture between CGX Energy Inc. and Frontera Energy Corp. begins drilling in Guyana as the region becomes an oil exploration hot spot.

January 23, 2023

People , Policy & Regulations , International

Next Petrobras CEO Sounds Out Lula's Party for Management Picks, Sources Say

The center-left Brazilian Socialist Party (PSB) may not have much sway in choosing future Petrobras appointees, according to an anonymous source.

January 23, 2023

Trade , Exports

Venezuela's PDVSA Freezes Most Oil Exports for Contract Reviews

PDVSA's freeze order on oil export contracts is leading to port delays, according to people familiar with the matter.

January 17, 2023

Business , Exploration & Production

Exxon Set to Order 5th Guyana Oil Vessel, Sizing Up More Blocks

Since Exxon made Guyana's first offshore discovery in 2015, the South American country has become the world's fastest growing oil region, with estimates its fields could produce 1.64 MMbbl/d by the end of the decade. 

January 17, 2023