Every region will post an increase, led by the Middle East, the Americas, Africa and the FSU. Offshore activity will grow at about the same pace as onshore drilling.
February 11, 2022
A proposal to abruptly end oil and gas exploration in Colombia would lead to higher prices for local consumers and be challenged in court, according to the country’s state-run driller.
January 17, 2022
Colombia’s presidential front-runner Gustavo Petro is calling on ideological allies across Latin America and the world to join him in forming a new bloc to lead the economy away from fossil fuels.
August 24, 2021
Pemex left investors with more questions than answers after it announced in late July that it would be disclosing its greenhouse gas emissions on a more regular basis — then refused to discuss why they’d soared by double-digits from April to June, compared to a year ago.
July 06, 2021
Patterson-UTI Energy Inc. has entered into an agreement to acquire Pioneer Energy Services Corp. for approximately $295 million, which includes the retirement of all Pioneer Energy Services’ debt.
July 01, 2021
Oil majors are gearing up to explore off the coast of Colombia, offering hope to a country struggling to reverse declines in reserves and output of its biggest export.
March 18, 2021
Ecopetrol has selected Aspen GDOT dynamic optimization software as part of its digitalization initiative to improve refining margins at its two refineries in Cartagena and Barrancabermeja, and upgrading to Aspen DMC3 advanced process control software in Barrancabermeja refinery.
March 02, 2021
With the “Evolution of the Upstream Business Model” panel, CERAWeek explored the significant variations in the ways major oil and gas firms are approaching the changing landscape of the energy transition.
February 26, 2021
Ecopetrol SA, Colombia’s biggest oil company, would hand over about $4 billion to the government in exchange for control of another state-sponsored outfit, the electric utility giant known as ISA. The deal, as investors from Bogota to New York see it, has all the markings of a cash-strapped federal government forcing a state-run company to bail it out.
October 05, 2020
. The transaction, which is expected to close in the fourth quarter of 2020, includes operations and working interests in the Llanos Norte, Middle Magdalena and Putumayo Basins. Occidental will retain a presence in country with its exploration blocks offshore Colombia.
July 17, 2020
The new plan ensures the sustainability of the business in an environment of low prices, prioritizing cash-generating opportunities and with better equilibrium prices, and maintaining growth dynamics with a focus on the execution of development plans for strategic assets.
January 10, 2020
Maersk Drilling has been awarded a contract for the 7th generation drillship Maersk Valiant which will be employed by Noble Energy for a one-well campaign offshore Colombia.
Another mixed outlook awaits the E&P sector
Despite the rise in crude prices, many Latin American countries are still grappling with considerable debt and declining production rates.
Mexico is the world’s 10th largest oil producer and has some of the largest reserves in the Western Hemisphere.