BNP Paribas said in Sao Paulo that it expects Brazil's gross domestic product to shrink 2% this year, or double the contraction the French financial services company had projected one quarter ago.
Mexico's oil production dropped following a deadly fire at an offshore platform, while authorities are still searching for three missing workers, state-run energy firm Pemex said.
One of Sweden’s largest investors has pledged to take direct legal action against Petrobras, becoming the third large investor to seek damages individually from the Brazilian oil group.
The British government has dismissed a reported threat from Argentina to prosecute oil firms drilling near the Falkland Islands. Argentine authorities said that the explorations “carry a huge environmental risk” and claimed that the London-registered companies, which announced last week they had found oil and gas in a remote field off the Islands, should be tried in Argentina
The Falkland Islands government welcomed on Thursday the announcement by Premier Oil and partners that the 14/15b=5 “Zebedee” well has been declared an oil and gas discovery following the completion of its evaluation program, Zebedee is the first of six wells from the current drilling campaign planned to take place in Falklands waters during 2015.
British telecommunication company, Cable and Wireless Communications, Plc (CWC) Tuesday announced it had completed its US$1.85 billion acquisition Columbus International Inc (CII).
Brazil's industrial production dropped in February after a momentary uptick at the beginning of the year, as factories and mines braced for what economists say could be the country's worst year in more than two decades.
Argentina, once a regional energy leader, is now better known for financial busts and bombastic politicians than hydrocarbons prospects. Still, with a resource potential both vast and untapped, the nation has never been far from energy investors' minds. The question today is just how much Argentina is willing to change and how this plays into a low oil price environment that is already negatively impacting investment elsewhere.
Falklands’ explorer Borders and Southern Petroleum PLC said this week its pre-tax loss widened in 2014 as costs increased, and admitted it has struggled to find a partner for the Darwin discovery to the south of the Falkland Islands, against a backdrop of reduced investment by companies caused by the fall in oil prices.
The Brazilian Petroleum Institute, or IBP, has called on the government to change the regulatory framework to deal with the crisis caused by the collapse of oil prices and the corruption scandal at state-controlled oil giant Petrobras.