South America

Field Development , Deepwater

APA Corp. Says Awari Well Non-Commercial Offshore Suriname

APA Corp. and TotalEnergies, joint venture partners offshore Suriname in Block 58, deemed the Awari exploration well non-commercial but are eager to start flow-test operations at the Sapakara South-2 (SPS-2) appraisal well, Houston-based APA reports.

November 28, 2022

Field Development , Crude Oil , Trade

BP Wins Contract to Market Guyana’s Share of Oil Production

London-based BP agreed to market Guyana’s share produced from the Liza Destiny and Liza Unity platforms at no charge per barrel, according to a ministry statement on Nov. 24. It replaces a Saudi Aramco trading unit, which previously held the contract.

November 28, 2022

Business , Exploration & Production , International

Chevron Can Resume Key Role in Venezuela’s Oil Output, Exports

The U.S. authorization “brings added transparency to the Venezuelan oil sector” and allows Chevron to benefit from sales of “oil that is currently being produced” by its joint ventures with PDVSA, the California-based company said in a statement.

November 26, 2022

Policy & Regulations

Brazil Transition Team Asks Bolsonaro Government to Halt Petrobras Asset Sales

In addition to a new mines and energy minister, President-elect Luiz Inacio Lula da Silva is expected to choose a new CEO of Petrobras early next month.

November 23, 2022

Exploration & Production , Technology

E&P Highlights (Nov. 21, 2022): 3M Gas Field Now Online

Here’s a roundup of the latest E&P headlines including new gas fields going online in Indonesia and elsewhere plus contract announcements for new projects from the past week in the upstream oil and gas industry.

November 21, 2022

People , Policy & Regulations

Lula to Start Job Interviews for Petrobras Overhaul, Sources Say

Brazilian President-elect Luiz Inacio Lula de Silva has a short list of prospects for Petrobras' replacement CEO, as he expects current CEO Caio Paes de Andrade to resign on Jan. 1, 2023.

November 21, 2022

Field Development , Deepwater , International

Suriname to See $23 Billion Deepwater Boom While Venezuela Struggles

Rystad Energy foresees investments offshore Suriname reaching $23 billion through 2031 driven by activities in Block 58 while it says political uncertainties continue to muddy the outlook for Venezuela.

November 18, 2022

Exploration & Production , International

Venezuela Asks World Court to Throw Out Guyana Border Case

Venezuela had ramped up its claims to a huge, sparsely populated area west of the Essequibo River after oil was discovered offshore.

November 17, 2022


E&P Highlights (Nov. 14, 2022): New Eni Startup; Suriname Bid Round

Here’s a roundup of the latest E&P headlines, including a new startup and bid round from the past week in the upstream oil and gas industry.

November 14, 2022

Earnings , Exploration & Production

Ecopetrol Eyes Suspension of Fracking Pilots with Exxon Mobil, Higher Output Next Year

Colombia’s oil giant Ecopetrol is taking steps to decelerate plans related to two fracking pilots with Exxon Mobil owing to opposition from President Gustavo Petro but continues to eye low single-digit production growth next year amid positive results at home and in the Permian Basin.

November 10, 2022