Venezuela’s fast-pacing decline in oil output is credit negative for the sovereign and Caracas is likely to further miss interested payments on sovereign bonds, as it struggles to generate sufficient cash to cover financial obligations this year, Moody’s said Wednesday.
French supermajor Total announced Monday it has entered the new world oil hotspot, Guyana, with three exploration licences, under purchase agreements with different sellers, Kallanish Energy learns.
Venezuela’s new cryptocurrency, Petro, will be available for pre-sale on Feb. 20, President Nicolas Maduro announced on Tuesday, saying the digital currency will strengthen the country’s economy and bypass sanctions.
Canadian-based, Colombian-focused E&P firm, Gran Tierra, reported an 18% growth in its proven and probable (2P) reserves to 137 million barrels of oil equivalent per day (MMBOE/d) in 2017, Kallanish Energy learns.
Proved petroleum reserves of Brazilian oil and gas company Petrobras have remained relatively flat in 2017 at 9.75 billion barrels of oil equivalent (BBOE), following the U.S. Securities and Exchange Commission (SEC) criteria, the firm said Tuesday.
Venezuelan authorities said on Thursday they are seeking an Interpol red alert for Rafael Ramirez, the country’s former oil minister and CEO of state oil firm PDVSA, on charges of fraud and legitimation of capital, Kallanish Energy learns.
Brazil’s oil and gas firm Petrobras wants to join European oil majors and the world’s top oil producer, Saudi Aramco, as an effective member of the Oil and Gas Climate Initiative (OGCI), Kallanish Energy learns.
Argentina’s hydrocarbon-rich unconventional resources could soon welcome another international player, with Russian gas giant Gazprom eyeing a joint venture exploration deal with YPF, Kallanish Energy learns.
Russia and Argentina signed Tuesday a deal worth up $250 million for the exploration and mining of uranium in the South American nation, through Rosatom’s Canadian arm, Uranium One, Kallanish Energy reports.
Pedro Parente, the CEO of Brazilian oil company, Petrobras, could leave his job in 2018 if the new government to be elected later this year goes back to interfering with the company’s businesses, Kallanish Energy learns.