Chevron holds stakes at four oil and gas joint ventures with PDVSA.
A high-volume Wolfcamp producer by EOG in Loving County, Texas, and results from a Utica Shale well test in Ohio top this week’s drilling activity highlights from around the world.
In a securities filing, Petrobras said it was reducing oil production by 100,000 barrels per day (bbl/d) through the end of March due to lower global demand.
Some Argentinians want to decouple from Brent crude, a benchmark for the country, as development of its prized Vaca Muerta shale assets face continued woes.
In a letter seen by Reuters, Iraq's oil minister asked OPEC Secretary-General Mohammad Barkindo to help "urgently achieve" extraordinary meetings of the OPEC+ group.
Before oil prices collapsed in the wake of failed OPEC talks earlier this month, Wood Mackenzie had forecast that some $3 billion would be invested in exploration in Brazil.
For the most part, oil is a top income source for members of OPEC and such a dramatic fall in prices will put a strain on their economies.
Russia rejected a proposal on March 6, saying it was only willing to extend existing OPEC+ cuts of 2.1 million bbl/d, which were due to expire at the end of March.
OPEC members are seeking to win support from Russia to join them in new additional oil output cuts to prop up prices which have tumbled by a fifth this year because of the coronavirus outbreak.
Voters in Guyana were heading to the polls on March 2 for an election that will decide who oversees an oil boom set to transform the poor South American country, which faces a test of whether it can sustainably manage a sudden influx of natural resource wealth.