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The state owned oil companies of Bolivia and Venezuela plan to invest $1.2 billion on exploration and development of hydrocarbons in Bolivia's northern La Paz department, close to one of [...]

Venezuela, Colombia and Panama announced Saturday the startup of the first phase of construction of a trans-border natural gas pipeline that could eventually open the door for Latin American gas [...]

Chile is expected this week to come up with a counter offer in response to Argentina's decision to hike the price of natural gas it exports to that country. Chilean [...]

Bolivia is today expected to announce an almost 60% price increase for the natural gas it exports to Argentina, a move that signals the end of more than a decade [...]

An agreement by which Venezuela would refine Ecuadorean oil produced in Block 15, formerly operated by US Occidental Petroleum, was postponed Friday. The unexpected resignation Thursday of Fernando Gonzalez, the [...]

The development of ConocoPhillips' Corocoro offshore oil field in Venezuela has suffered a new delay, adding to previous differences between the US company and Caracas over the development of one [...]

A disruption of Venezuelan oil supplies will cause an immediate 15% spike in international crude prices that would in turn severely disrupt economic growth in the US, according to the [...]

President-elect Alan Garcia of Peru is set on developing his country's domestic natural gas market and liquefied natural gas (LNG) exports, but he rebuffed a project for creating a regional [...]

Bolivia and Argentina are close to finalizing an agreement that would more than triple current exports of natural gas from the Andean nation. But the thorny issue of the export [...]

Supermajor Exxon Mobil has been unable to process at its US refineries some 550,000 barrels of crude from its Venezuela production due to an ongoing dispute with that country's state [...]

Venezuela is close to signing an agreement with Algeria and is in talks with Iran and Qatar for joint natural gas exploration and production projects in the South American country, [...]

pain's Repsol YPF and Ecuador's state owned oil company Petroecuador signed a deal Tuesday to negotiate a resolution to a series of long-running disputes outside of local or international courts, [...]

US major Chevron said Thursday it intends to pursue international arbitration against the government of Ecuador and ask for approximately $750 million in damages related to seven unresolved legal claims [...]

Total and Statoil would be the hardest hit of the European majors if Venezuela imposes more stringent fiscal terms on the country's four Orinoco Belt ultra-heavy oil projects, according to [...]

Brazil's state controlled energy giant Petrobras has suspended all new investments in neighboring Bolivia and will look for alternative sources of natural gas supplies to replace flows from that country, [...]

Bolivian President Evo Morales sent troops out to occupy the nation's gas fields Monday after signing a decree that placed the country's hydrocarbons industry under government control. Foreign oil and [...]

Venezuela is experiencing an increase in drilling activity despite the government's recent moves to take more control of private operations, according to industry reports and oil executives. 'For the past [...]

Argentina has agreed to renegotiate the terms of a 2004 contract by which it imports natural gas from the Andean nation of Bolivia. The revision of the contract, which is [...]

Brazilian President Luis Inacio 'Lula' da Silva made history Friday when he switched on the valve that started output at the P-50 platform in the Albacora Leste field, located in [...]

Brazilian state controlled oil giant Petrobras has announced a new light oil discovery in the Espirito Santo basin close to the Golfinho field, as the South American country realizes its [...]

The Argentine unit of Repsol YPF has circulated an internal memo to refute rumors that the government is planning to buy back the company's operations there. The memo, signed by [...]

The renegotiation of private companies' operating service contracts in Venezuela by the state has reduced the value of these assets by $3.7 billion to $4 billion, according to report by [...]

Repsol-YPF on Friday declared force majeure on natural gas deliveries to Chile, citing reduced output from damaged pipelines in Bolivia. The force majeure was announced in a letter to Chilean [...]

Venezuela plans to bill the four Orinoco Belt heavy oil ventures for unpaid taxes in the coming months, as Caracas continues its effort to gain a larger share of the [...]

Venezuela's state owned oil company Petroleos de Venezuela (PDV) will invest $80 billion to $100 billion between 2006 and 2012 to meet its goal of doubling output to 5.85 million [...]

Venezuela's state owned oil company Petroleos de Venezuela (PDV) has taken back oil fields with about 100,000 barrels per day of production from several private companies, including Italian Eni, French [...]

Venezuela's National Assembly unanimously approved Thursday a model contract between private operators and the state that will replace 32 service agreements the government unilaterally decided to end starting this year. [...]

Ecuador's Congress approved Wednesday a new hydrocarbons bill that increases the state take from private companies' robust oil revenues, a move that threatens to dampen further already weak foreign investment [...]

German oil and gas oil company Wintershall said Tuesday it plans to invest $84 million in natural gas production in Argentina this year and a total $300 million in the [...]

Venezuela's tax authority has billed UK supermajor BP for $62 million for taxes dating back to 2001-04, according to the Seniat website. The bill owed by BP's Venezuelan subsidiary is [...]

Bolivia's Hydrocarbons Minister Andres Soliz Rada said Friday he will not negotiate energy contracts with oil companies that threaten to take his government to international arbitration over the country's new [...]

Bolivian President Evo Morales' announcement last week that he will nationalize his country's hydrocarbons industry by decree in July has caused much concern among international firms operating in the gas-rich [...]

The fall-out between Venezuela and foreign firms worsened on a few fronts Thursday. US supermajor Exxon Mobil has decided to stop production at the La Ceiba oil field in Venezuela, [...]

The president of the Bolivian subsidiary of Spain's Repsol YPF resigned from his post Tuesday in the midst of an ongoing investigation into allegation the company smuggled oil to neighboring [...]

Mexico's proved oil and gas reserves fell by 6% in 2005 to end the year at 16.470 billion barrels of crude oil equivalent, state oil company Pemex said last week. [...]

Ecuador's state oil company Petroecuador must respond this week to a proposal by US Occidental Petroleum to resolve an ongoing dispute between the two over an alleged upstream contract violation. [...]

French Total has agreed to pay the government of Venezuela part of a $108 million debt for unpaid back taxes from 2001-04, according to Venezuela's tax authority. The company had [...]

The government of Venezuela is planning to reform the country's income tax law, a move expected to directly affect oil and gas operators as the government seeks to get a [...]

Chevron has no plans to expand its crude output this year at its Venezuela Orinoco Belt heavy crude project but would happily contribute additional barrels if given more acreage, one [...]

Argentina's main oil and gas producing province has passed several decrees establishing higher royalty rates for production beginning Mar. 1 and allowing the state to take back a stake in [...]

Venezuela's Energy and Mines Minister Rafael Ramirez urged private operators developing four extra heavy crude projects in the Orinoco region to boost output and pay higher royalties in kind. Four [...]

Chile's President Ricardo Lagos announced Thursday the discovery of important natural gas reserves that could greatly reduce his country's dependence on imports from neighboring Argentina. Lagos also said imports of [...]

Bolivian prosecutors have issued an arrest order for the president of Repsol YPF's Bolivian subsidiary on allegations of oil smuggling, according to Spanish press reports. The arrest warrant against Julio [...]

Venezuela's state oil company Petroleos de Venezuela (PDV) and ConocoPhillips plan to step up drilling operations this year at their Petrozuata joint venture in the Orinoco basin, according to the [...]

Brazil's state controlled oil company Petrobras reported its highest ever net profit in 2005 at $11.2 billion (23.7 billion reais), a 40% increase from 2004. A Petrobras executive on Tuesday [...]

Construction of a trans-border pipeline that would transport natural gas from Colombia to Venezuela is set to begin in July, none-too-soon for Venezuela as the new line is expected to [...]

Britain's BG Group won a bid to build and supply a liquefied natural gas (LNG) receiving plant in Chile, a project that is expected to change the country's energy matrix [...]

A group representing the interests of foreign oil companies operating in Bolivia categorically denied Wednesday government accusations that they had participated in a plot to destabilize the administration of newly [...]

The government of one of Argentina's gas producing provinces is asking a consortium led by French Total for almost $30 million in back taxes. The companies plan to appeal the [...]

Some oil operators in Venezuela are pushing to continue booking at least part of their reserves despite being obliged to change service contracts into joint ventures with state oil company [...]