Argentina's hydrocarbons company YPF is facing a fresh lawsuit in the United States, this time for US$14bn, which is twice the market value of the state oil firm, over alleged corporate restructuring that the company was said to have carried out several years ago.
Venezuela is taking steps to direct dwindling motor fuel to politically loyal vehicle owners. President Nicolas Maduro ordered a national census on 3-5 August to determine how many vehicle owners possess a homeland identity card, a document created in first quarter 2017 to strengthen the government's social and political surveillance capabilities.
By Irina Slav for Oilprice.com - The strength of the U.S. dollar poses an obstacle to further gains in oil prices. President Trump's trade war with China, which is still in its early stages, has already battered the Yuan.
As Mercopress have reported over recent months, Premier Oil continue to progress their Front End Engineering and Design (FEED) process for the Sea Lion oil discovery. As a next step in this process, earlier this week Premier Oil plc provided details of their intended approach to both procurement and infrastructure to support the discovery to the north of the Falkland Islands.
The U.S. Energy Department on Wednesday cleared the way for faster approval of small scale exports of natural gas including liquefied natural gas to Latin American countries by issuing a rule that does away with a public interest review of the shipments.
Argentina will begin exporting natural gas to Chile from October, the Argentine Energy Ministry said on Friday, following a meeting between the governments of both countries.
Dril-Quip (Europe) in Aberdeen has announced a letter of intent with Premier Oil to provide subsea production systems for the Sea Lion Phase 1 development offshore the Falkland Islands. The letter of intent signed was described as a sizeable supply contract, but was undisclosed.
Overall the Argentine government is satisfied how relations with the UK regarding the South Atlantic, and Falklands' sovereignty claims are evolving, was the message with which members of the so called Malvinas Question Observatory from Tierra del Fuego province, returned to Ushuaia after meeting with foreign ministry officials in Buenos Aires, according to local media reports.
Venezuela’s oil production plunged by another 47,500 barrels per day (bpd) in June, compared to a month earlier. An exodus of workers and field shut downs were reported for the month, pointing to a grim near-term future that could see total production dip below 1 million barrels per day (mb/d) by the end of the year.
Brazilian state-run oil and gas company Petrobras has signed a memorandum of understanding (MoU) with French oil major Total SA and its green arm Total Eren SA for collaboration in renewable projects in Brazil.