CGX Spins Bit Offshore Guyana

CGX Energy Inc. announced that the Eagle-1 well located on the Company's 100 percent-owned and operated Corentyne Petroleum Prospecting License ("PPL") has commenced drilling.

Galp prevê aumentar produção para 22 mil barris de petróleo por dia

A petrolífera portuguesa divulgou as suas perspectivas de curto prazo, onde prevê que a produção de petróleo continue a aumentar e adianta que a margem de refinação deverá recuperar.

Sete Brasil Charts Growth Path On Back Of Latest Rig Order

Fresh from winning one of the world's single-largest orders for drilling rigs, investment company Sete Brasil plans to spend $27 billion over the next eight years to take advantage of Brazil's development of recently discovered offshore oil fields.

Petrobras 4Q Net Plunges, Challenges New CEO

Petrobras's profit plunged 52 percent in the fourth quarter, frustrating expectations the company can control the cost of an ambitious expansion plan and underlining the challenges faced by new chief executive Maria das Graça Foster.

Brazil eyes 11th round offshore auctions in 2012

Brazil will probably hold next round of offshore concession auctions this year. Legislation needed to auction pre-salt areas expected to pass this year. No decision yet on which pre-salt areas will be auctioned first.

Review

Review: The Latin American Oil Industry

The potential of the Latin American oil industry is slowing but surely coming to fruition. Although all roads appear to lead to growth, for producers and explorers alike, a number of sizeable hurdles remain. And it is these hurdles which keep the region's growing importance in the oil market very much a medium-to-long term story.

Brazil hits record crude production

Brazil's output of crude reached record levels in 2011 as new production came onstream from the so-called subsalt oil fields in the Santos Basin, its National Petroleum Agency said on Thursday according to a report.

OGX redoubles Santos Basin find

Brazilian independent OGX has said analysis has confirmed hydrocarbon-bearing pre-salt microbiolite reservoirs in the shallow waters of its BM-S-57 Santos Basin block.

PGS on pre-salt survey mission offshore Angola

The Petroleum Geo-Services Ramform Valiant has started acquisition of over 26,000 km² of GeoStreamer data in five blocks in the Kwanza/Benguela Basins in the pre-salt areas prospects offshore Angola.