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Bolivia and Argentina are scheduled to resume stalled negotiations today for increasing exports of Bolivian natural gas to Argentina. The talks had been suspended due to political turmoil in Bolivia, [...]

Harvest Natural Resources promised Monday to 'vigorously challenge' accusations by Venezuela's tax authority that the US-based independent producer owes back income taxes plus penalties that could add up to nearly [...]

Venezuela's tax authority plans to temporarily shut down the administrative offices of three foreign oil companies next week, according to local press reports on Friday. The head of the Seniat [...]

Brazil's President Luiz Inacio 'Lula' da Silva has appointed a new minister of mines and energy as part of a cabinet shake-up prompted by a bribery scandal involving the ruling [...]

After several weeks of delays, Venezuela's state oil company Petroleos de Venezuela (PDV) announced it paid $860 million in the first quarter to private companies holding operating service agreements (OSAs) [...]

Bolivia implemented Tuesday a controversial new 32% non-refundable tax on private oil and gas companies operating in the country, while the government stepped up military control of hydrocarbon-producing areas as [...]

French Total announced last week the startup of natural gas production from its offshore Carina and Aries fields, located in Argentina's southern Tierra del Fuego region, after more than a [...]

Petroleos de Venezuela (PDV) has found new oil reserves in the western Lake Maracaibo region, an area where the company's output has been declining. Meanwhile, Houston-based independent Anadarko said it [...]

Russia plans to supply Mexico with liquefied natural gas (LNG) from its Sakhalin Island reserves, with excess volumes expected to be marketed in the US, said Russian President Vladimir Putin. [...]

Peru plans to hold a regional summit later this year to discuss a project to sell natural gas from its giant Camisea field to other South American countries, according to [...]

Brazilian Petrobras is close to signing an agreement to explore for natural gas in areas adjacent to Peru's giant Camisea field, as interest mounts in the Southern Cone for purchasing [...]

Venezuela plans to reform the country's corporate tax law to allow for an increase of the tax rate paid by the Orinoco Belt strategic associations with state owned oil company [...]

Demonstrators in Bolivia on Friday started abandoning oil fields they had seized from subsidiaries of majors Repsol YPF and BP after a new president took over following weeks of political [...]

Bolivia's political and social crisis deepened this week as President Carlos Mesa presented his resignation to Congress for a second time and street protests demanding the nationalization of the country's [...]

Spain's Repsol YPF said on Thursday it would suspend significant investment in Bolivia, where unrelenting popular protests demanding the nationalization of the country's energy reserves have virtually paralyzed the country [...]

Brazilian state-controlled oil giant Petrobras announced Friday it signed four memorandums of understanding (MOU) with Japanese financial institutions for obtaining $1.2 billion in investments that will help to advance the [...]

Venezuela will start using a new pricing formula for its crude sales later this year similar to that used by Mexico and Saudi Arabia, according to Energy and Petroleum Minister [...]

Bolivia's new hydrocarbons law will hurt the chances for foreign operators of finding markets for the natural gas reserves they hold in the Andean country and will depress local profits [...]

Venezuela will impose a higher royalty of 30% on output from the heavy crude upgrading Sincor project in excess of the volumes originally stipulated in the contract with the foreign [...]

Venezuela will no longer provide dollar payments to companies holding 32 operating service agreements (OSAs) with state owned Petroleos de Venezuela (PDV), insisting such payments fail to meet the country's [...]

Foreign oil companies condemned the approval by Bolivia's Congress this week of a new hydrocarbons law that forces them to renegotiate their current contracts under less investor-friendly terms. Bolivia's largest [...]

Brazil's state controlled oil giant Petrobras on Monday reported a 32% increase in first quarter profits versus the same period last year, thanks mostly to higher domestic fuel prices and [...]

The international consortium that plans to export liquefied natural gas (LNG) from Peru's giant Camisea project is eyeing Mexico's planned Manzanillo import terminal as its first market of choice. 'As [...]

Venezuela's President Hugo Chavez accused foreign oil companies that hold stakes in four crude upgrading projects in the Orinoco Belt of breaching their agreements, marking the first time the left-wing [...]

Bolivia's Congress gave final approval Thursday to a controversial new energy bill that adds a new tax on oil and gas operations and turns back almost a decade of investor-friendly [...]

Venezuelan President Hugo Chavez has admitted for the first time that crude output from the country's western fields has declined substantially--an observation that international organizations and industry pundits have upheld [...]

Bolivia's Senate approved a controversial new hydrocarbons law on Friday that establishes steeper taxes for foreign oil operators, as well as a requirement that forces them to switch their current [...]

Venezuela's state oil company Petroleos de Venezuela (PDV) will open an office in Havana, Cuba, which will become the headquarters for its Caribbean operations. PDV also plans to increase oil [...]

Venezuela announced Sunday it will hike the income tax paid by private oil companies that hold operating service agreements with state owned Petroleos de Venezuela (PDV), the latest move by [...]

Chile's state-owned oil company Enap secured a sales agreement with two local utilities for supplying them with liquefied natural gas (LNG), as part of the government's efforts to develop an [...]

Venezuela plans to divide up its prolific Orinoco oil basin into 18 separate blocks that will be offered for bidding later this year, Energy and Petroleum Minister Rafael Ramirez said [...]

ChevronTexaco announced Wednesday it will join Spanish Repsol YPF to develop a new heavy crude upgrading project in Venezuela's Orinoco Belt, which the US major had presented to the Venezuelan [...]

Repsol YPF on Tuesday announced plans for a major expansion in Venezuela, where it hopes to double its oil and gas reserves and increase output by 60% as the Spanish [...]

Ecuador's state-owned oil company Petroecuador announced Tuesday a new extension of the bid deadline for contracts to boost output from the country's main oil producing fields. It is the third [...]

Bolivia's President Carlos Mesa decided to stay in office after Congress rejected Thursday his call for early elections to replace him. The decision came hours after the embattled leader said [...]

BG is one of several international oil companies that may sue the government of Bolivia if the Andean nation increases current royalty levels and does not respect existing contracts, according [...]

The announcement by the government of Venezuela this week that it will conduct a detailed tax review of oil companies' operations in the South American country is seen more as [...]

Bolivia's Congress rejected President Carlos Mesa's resignation in a show of strong support for the embattled leader, while his opponents called for street blockades to protest his economic policies. After [...]

The embattled President of Bolivia, Carlos Mesa, submitted his resignation to the country's Congress on Sunday, amidst growing social unrest and political squabbling in Congress over passage of a new [...]

Venezuela and India are negotiating energy deals that include potential oil and gas exploration opportunities for ONGC Videsh, the overseas unit of India's state-owned Oil and Natural Gas Corp., in [...]

Russian major Lukoil is interested in building a refinery in Venezuela as well as supplying Citgo refineries in the US with Russian oil, the company's president said Wednesday. 'We are [...]

Brazil's state oil company Petrobras plans to invest $5.3 billion in exploration and production this year, up 15% from last year's $4.6 billion, Chief Financial Officer Jose Sergio Gabrielli de [...]

US supermajor Exxon Mobil has asked the government of Venezuela to start consultations over last year's unilateral increase in the royalty rates the company pays for its Cerro Negro heavy [...]

Venezuela's left-wing president, Hugo Chavez, said Sunday his country would suspend oil exports to the US in the event of an assassination attempt against him, 'be it successful or not,' [...]

Supermajor BP is considering significant cutbacks to its exploration and production operations in Brazil after experiencing poor drilling results from its offshore blocks, a company spokesman said Friday. The company [...]

Venezuela's much-awaited $2.7 billion Mariscal Sucre offshore natural gas project could be divided into separate blocks to make room for new players, Energy and Oil Minister Rafael Ramirez said Wednesday. [...]

The government of Venezuela and US oil major ConocoPhillips have finally resolved their differences over the development of the Corocoro field in eastern Venezuela, according to state oil giant Petroleos [...]

French Total hopes to sign a preliminary agreement with Venezuela by mid year to launch a new $5 billion project to process extra heavy crude from the country's Orinoco region, [...]

With the winter season in South America just a few months away, energy shortages in Argentina could again be around the corner. Analysts agree that 2005 will be a repeat [...]

Bolivia's embattled President Carlos Mesa replaced some of his cabinet members last week but kept his minister of hydrocarbons, in a move that signals a continuation of increased government control [...]