South America – Page 5 – Oil & Gas 360

Petrobras approves $2.1 billion in shareholder dividends despite lower oil prices

May 13, 2025

(World Oil) – Brazil’s state-controlled oil producer Petrobras approved dividends slightly below expectations amid a trade war that has created economic uncertainty and undermined oil prices. Petrobras will pay $2.1 billion USD (11.72 billion reais) in first-quarter dividends, it said in a filing Monday. Expectations were for a $2.2 billion payout, according to an average of six analyst forecasts reviewed

As Brazilian president visits China, $1 billion sustainable fuel deal announced

May 12, 2025

(Investing) – SAO PAULO -Brazil announced two Chinese partnerships on Monday, including a $1 billion investment by China’s Envision Energy to produce sustainable aviation fuel, as the country’s president visits China. President Luiz Inacio Lula da Silva met with energy companies as well as with automaker GAC, and Chinese defense company Norinco. Minister of Mines and Energy Alexandre Silveira told journalists

Vitol steps up Venezuela oil buying before U.S. license lapses

April 25, 2025

(World Oil) – Vitol Group has stepped up oil purchases in Venezuela in the final weeks of a U.S. license that allows the world’s largest independent oil trader to do business in the sanctioned nation. Vitol is set to load at least 2.5 million barrels of Venezuelan oil this month, according to documents seen by Bloomberg. It has more than

Colombia’s GeoPark appoints Felipe Bayon as its new CEO

April 25, 2025

(World Oil) – GeoPark Limited, an independent oil and gas company with over 20 years of successful operations across Latin America, announces the appointment of Felipe Bayon as its new Chief Executive Officer and a member of the Board of Directors, effective June 1, 2025. This appointment follows the decision of Andrés Ocampo to step down for personal reasons. Mr. Bayon is recognized

Vista buys Petronas’ Argentina oil stake in $1.5 billion deal

April 16, 2025

(World Oil) – Vista Energy has acquired Petronas’ 50% stake in a region of the Vaca Muerta shale basin in a deal valued at $1.5 billion USD. The purchase price is comprised of US$ 900 million in cash, US$ 300 million in deferred cash payments and 7,297,507 American Depositary Shares. LACh spans across 46,594 acres in the black oil window of

Chevron’s Venezuelan oil cargoes stalled at sea after export cancellations

April 11, 2025

(Investing) – HOUSTON- At least two vessels carrying Venezuelan crude chartered by Chevron (NYSE:CVX) are now stalled in Venezuelan waters due to state oil company PDVSA canceling their export authorizations after the U.S. imposed secondary tariffs on the OPEC member’s buyers, two sources with knowledge of the matter said on Friday. The U.S. oil producer awaits customs paperwork to return the

Chevron, YPF among oil drillers backing Vaca Muerta pipeline

April 3, 2025

(World Oil) – (Bloomberg) – Chevron Corp., YPF SA and other oil drillers are planning a major Argentine pipeline to handle rising output from the Vaca Muerta shale region. The companies, through the Oldelval SA joint venture, are in talks to increase oil-shipping capacity from Puesto Hernandez, a promising drilling zone more than 100 kilometers (62 miles) distance from the

Ecopetrol eyes SierraCol purchase to boost output, reserves in Colombia

April 2, 2025

(World Oil) – Colombia’s state-owned Ecopetrol SA is considering buying Carlyle Group’s oil driller in the nation as it looks to boost reserves and output, its top executives said in an interview. Carlyle Group is seeking to sell SierraCol Energy Ltd., Colombia’s biggest independent oil producer, for $1.5 billion, Reuters reported last month. The assets were purchased from Occidental Petroleum Corp.

New creditors’ battle emerges in Citgo auction reboot

March 28, 2025

(Investing) – HOUSTON – A U.S. federal judge trying to move ahead with an auction of shares in the parent of Venezuela-owned U.S. refiner Citgo Petroleum is dealing with a fresh dispute between creditors after a lowball starting bid was recommended in a reboot of the sale. The complex auction meant to repay 18 creditors for debt defaults and expropriations by

Oil prices climb on US crude, fuel stock draw, Venezuela supply worries

March 26, 2025

(Investing) – HOUSTON -Oil prices rose on Wednesday, buoyed by government data showing U.S. crude oil and fuel inventories fell last week and by mounting concerns about tighter global supply following the U.S. threat of tariffs on nations buying Venezuelan crude. Brent crude futures gained 88 cents, or 1.21%, to $73.90 a barrel by 10:42 a.m. ET (1442 GMT), their highest since February

China’s purchases stall after Trump’s tariff threat on buyers of Venezuelan oil

March 25, 2025

(Oil Price) – China, the biggest buyer of oil from Venezuela, saw trade with Venezuela stall on Tuesday after U.S. President Donald Trump threatened on Monday 25% tariffs on the goods of any country buying Venezuelan oil. Traders and refiners in China were caught off guard by Monday’s executive order and are waiting to see whether Beijing will have some direction on the

Oil rises for fifth day on supply concerns after Venezuela tariffs

March 25, 2025

(Investing) – LONDON – Oil prices rose on Tuesday for a fifth day on expectations that global supply may tighten after the U.S. announced tariffs on countries that buy Venezuelan crude, although OPEC+ plans to go ahead with an output hike in May limited gains. Brent crude futures were up 46 cents, or 0.6%, at $73.46 a barrel by 1023 GMT.

Premium Content