Latin America & Caribbean
Nation’s meltdown has no end in sight, with even a U.S. invasion possible.
Talos Energy is joining forces with a subsidiary of Argentina’s Pan American Energy LLC to accelerate exploration efforts offshore Mexico.
At his first meeting with foreign oil majors, Mexico's leftist president-elect pushed the companies to prove themselves by quickly pumping oil from recent finds, sources said, but gave no sign of offering up new fields to reverse dwindling output.
Petróleo Brasileiro SA will pay an $853.2 million fine to settle charges that former executives and directors of the state-run Brazilian oil company broke U.S. anti-corruption laws by bribing politicians and then seeking to conceal the payments, the U.S. Justice Department (DOJ) said on Sept. 27.
Mexican President-elect Andres Manuel Lopez Obrador will seek to end the country's massive fuel imports, nearly all from the U.S., during the first three years of his term while also boosting refining at home.
An appeals court in Argentina has rejected an attempt to enforce a fraudulent Ecuadorian judgment against Chevron Corp., making Argentina the latest country where courts have dismissed the judgment found by U.S. courts to have been obtained through racketeering and corruption.
Oil and gas contracts awarded under the Mexican government's energy reform will be respected by the incoming administration provided no problems emerge in a revision of the process, the man designated to run the finance ministry said on July 4.
Attorney sees more partnerships with Pemex and fewer outright upstream contracts with the incoming administration, as well as a tightening of the permit process for the midstream.
The Maya oil discount has been broadening because of the continued sharp widening of the West Texas Sour differential due to bottlenecks in the Midland Basin.
Qatar Petroleum (QP) signed an agreement on June 3 with Exxon Mobil Corp. (NYSE: XOM) to acquire a 30% stake in two of ExxonMobil's affiliates in Argentina.