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Companies & Finance

OSX reaches financial close on $850 million Brazil FPSO vessel

Brazilian developer OSX has reached financial close on a $850 million commercial debt package for the construction of a floating, production, storage and offloading (FPSO) vessel for use at pre-salt reserves offshore the Latin American state.

4 November 2011
Exploration & Production

Petroperu to re-join upstream fray next year

Humberto Campodónico, the president of state-controlled Petroperu, has told Interfax that the company will return to upstream activities next year, acquiring stakes in both existing and new oil and gas projects. He also said that the company was close to various deals for midstream projects.

3 November 2011
LNG

YPF to join Uruguayan LNG project

Chilean utility GasAtacama is betting on cheap United States LNG exports to drive growth in the country’s mining industry, the company’s commercial manager Pedro De la Sotta told Interfax on the sidelines of the Southern Cone Energy Summit in Lima on Wednesday.

3 November 2011
LNG

Chilean utility bets on cheap United States LNG

Chilean utility GasAtacama is betting on cheap United States LNG exports to drive growth in the country’s mining industry, the company’s commercial manager Pedro De la Sotta told Interfax on the sidelines of the Southern Cone Energy Summit in Lima on Wednesday.

3 November 2011
Companies & Finance

Anadarko says Brazilian assets for sale ‘at right price’

The chief financial officer of United States-based Anadarko Petroleum has said the company may sell all its Brazilian assets “at the right price”. The sale appears necessary to cover Anadarko’s costs from its $4 billion settlement with BP relating to the Macondo oil spill of 2010.

2 November 2011
Exploration & Production

Brazilian independent HRT joins the big league

Brazilian company HRT Participações agreed to sell a 45% stake in 21 Amazon blocks to Anglo-Russian giant TNK-BP for $1 billion, it announced at a press conference in Rio de Janeiro on Tuesday.

2 November 2011
Supply & Demand

Chile looks to reduce reliance on gas

Despite being surrounded by three of the region’s top gas producers and with a selection of LNG regasification terminals to choose from, gas does not form a major part of Chile’s future energy pol

1 November 2011
Policy & Regulation

New capital controls make Argentina a riskier business

Ratings agency Moody’s downgraded both Repsol-owned YPF and Petrobras Argentina on Monday, in response to new government decree on export proceeds.

1 November 2011
Supply & Demand

Peru’s growing pains

A series of ambitious gas transportation and distribution projects will benefit Peru’s domestic market, but may come at the expense of the country’s LNG exports.

31 October 2011
Policy & Regulation

Ecuador to merge state-controlled companies by 2012

Ecuador will merge its state-controlled oil and gas companies Petroecuador and Petroamazonas by October 2012, with the latter becoming responsible for the state’s exploration and production activities.

31 October 2011
Exploration & Production

Bolivia to seek another opinion on reserves in 2012

A top official from Bolivian state-controlled company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) said earlier this week that the country will hold a bidding process for reservoir-evaluation companies in 2012.

28 October 2011
Exploration & Production

Colombia to see unconventional drilling boom in 2012

An executive from Colombia's state-controlled Ecopetrol has said the country will draw up legislation governing unconventionals exploration early next year, with 12 wells to be drilled in 2012 and 100 by 2021.

27 October 2011
Exploration & Production

French Guiana bounty may prompt regulatory rethink in Brazil

The excellent prospectivity of offshore French Guiana may encourage the Brazilian government to exclude some blocks off its north-east coast from the country’s 11th licensing round, which is expected to take place in 2012, Interfax has learned.

26 October 2011
Exploration & Production

Golden age of gas in Trinidad and Tobago may be over

Large explorers will turn their attention to midstream opportunities, given scant upstream potential in Trinidad and Tobago.

26 October 2011
Exploration & Production

Global slowdown will hit Brazil’s independents hardest

Analysts say that the country’s smaller independent oil and gas operators may experience cash flow problems this year and next, which will force them to scale back drilling ambitions.

25 October 2011
Global Markets

Argentine elections

Argentine President Cristina Fernandez de Kirchner is heading for a landslide election victory, according to early results.

24 October 2011
Companies & Finance

TNK-BP deal on Brazil project delayed

The TNK-BP deal on the Solimoes project in Brazil has been delayed because negotiations with the project's majority shareholder, Brazilian independent HRT Participacoes em Petroleo, have not been completed, a source familiar with the situation told Interfax on Monday.

24 October 2011
Companies & Finance

BG Group struggles to exit Argentine distribution business

UK-based BG Group is still unable to offload its stake in Argentina’s debt-ridden gas distribution company MetroGAS, because of a host of political and regulatory obstacles.

21 October 2011
Companies & Finance

Repsol Gas Brasil sold

Repsol said on Thursday that it had agreed to sell its liquefied petroleum gas distribution subsidiary, Repsol Gas Brasil, to Brazilian company Ultragaz, for $27.6 million.

21 October 2011
Companies & Finance

BPZ joins North American trend of ‘cross-listers’

Houston-based BPZ Resources, whose entire operations are based in Peru and Ecuador, has been given approval to list on Lima’s Bolsa de Valores (BVL) stock exchange.

20 October 2011

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