Argentina News

 

Brazil's President Bolsonaro Nominates Retired Army General as Next CEO of Petrobras

Feb 22, 2021

Brazilian President Jair Bolsonaro's nominee to lead state-run oil company Petrobras said on Saturday the company needs to find 'balance' in fuel pricing, considering the impact on shareholders, investors, sellers and consumers.Joaquim Silva e Luna, a retired army general and former defense minister overseeing the state-run Itaipu hydroelectric dam on the border with Paraguay and Argentina since 2019…

Apache, Shell Win Offshore Exploration Blocks in Uruguay

Jun 27, 2022

Uruguay's ANCAP has awarded three of the six available offshore blocks on its continental shelf to Shell and Apache, following bids received in the most recent ANCAP 2022 Open Bidding Round.Shell won the rights to the shallow-water block OFF-2 and deepwater Block OFF-7…

Malaysia's Petronas Sees Higher Demand as Focus Turns to Energy Security

Apr 27, 2022

Malaysian state energy firm Petronas is seeing growing demand for gas as the world lifts COVID-19 restrictions and prioritizes energy security due to Russia's invasion of Ukraine, its chief of upstream operations told Reuters on Wednesday.Petronas…

Schlumberger Posts Higher 1Q Profit as Rising Oil Prices Boost Demand for Its Services

Apr 22, 2022

Top oilfield services firm Schlumberger reported a higher first-quarter profit on Friday and increased its dividend by 40%, as rising oil prices boosted demand for services and equipment.Oil prices climbed to their highest in more than a decade…

Argentina Extends Total, Wintershall Offshore Oil and Gas Concession until 2041

Apr 20, 2022

Argentina has extended a concession held by energy firms Total Austral, Wintershall Dea Argentina, and Pan American Sur for 10 more years until 2041, and approved an investment plan for $700 million, according to a government decree published on Tuesday…

UN Deep-sea Mining Rules Unlikely to be Completed by 2023 Deadline, Latam Countries Say

Oct 28, 2021

Regulations governing deep-sea mining will take longer to finalize due to the global pandemic, a group of Latin American countries said, creating uncertainty for companies looking to mine the sea bed for metals, including cobalt and nickel.The…

Wintershall Dea Q3 Earnings More than Double on Higher Prices, Spending cuts

Oct 26, 2021

Oil and gas producer Wintershall Dea's most closely watched measure of earnings more than doubled in the third quarter, it said on Tuesday, benefiting from soaring oil and gas prices and spending cuts.The company, owned jointly by BASF and Russia's LetterOne…

Higher Oil Prices, Lower Spending Boost Wintershall Dea's 2Q Result

Jul 27, 2021

Wintershall Dea posted strong second-quarter 2021 earnings as it benefited from firmer oil prices and reduced spending, its earnings report showed on Tuesday.The company, owned jointly by BASF and Russia's LetterOne, posted earnings before interest…

Argentina Seeks Sanctions Against Oil Firms Drilling Near Disputed Falklands

Jul 07, 2021

Argentina's government has launched a process to sanction a number of foreign firms it accuses of illegally drilling for oil in a disputed area near the British-run Falkland Islands, over which the South American country also claims sovereignty…

Excelerate's FSRU Starts Operations in Argentina's Bahia Blanca

Jun 03, 2021

Excelerate Energy’s floating storage and regasification unit (FSRU) the Exemplar has begun operations in Bahia Blanca, a port city located 400 miles south of the Argentine capital Buenos Aires.The Exemplar, with a storage capacity of 150,900 m3…

Wintershall Dea Q1 Operating Profit Jumps 47%

Apr 27, 2021

Wintershall Dea posted a jump in first-quarter financial results thanks to record production and recovering oil and gas prices, the German-Russian producer said on Tuesday.Its earnings before interest, tax, depreciation, amortization, and exploration expenses (EBITDAX)…

Shell Farms Into Offshore Block in Argentina

Jan 14, 2021

Oil and gas giant Shell has agreed to farm into the CAN 100 block, offshore Argentina, currently jointly owned by the Norwegian energy firm Equinor and Argentina's YPF.In October 2019, Equinor farmed into the YPF CAN 100 block and agreed to take over the operatorship…

PGS to Reprocess Uruguay's Exploration Data

Jan 12, 2021

Norwegian oil and gas exploration seismic data company PGS has signed an agreement with Uruguay's state oil company ANCAP to reprocess over 11 000 km of existing 2D lines of various vintages, applying the latest seismic imaging techniques.'This rejuvenation will provide new…

Bahia Grande to Keep Solstad Offshore Vessel Until Oct. 2026

Dec 21, 2020

Norway-based offshore vessel owner Solstad Offshore said Monday it has secured a contract extension for one of its vessels in Argentina.The contract extension is for the construction support vessel Normand Commander, with Bahia Grande LN S.A…

Exxon Takes $20B Writedown. Puts Focus on Brazil, Guyana, Permian

Dec 01, 2020

Exxon Mobil Corp on Monday said it would write down the value of natural gas properties by $17 billion to $20 billion, its biggest-ever impairment, and slash project spending next year to its lowest level in 15 years.The oil major is reeling…

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