Oil minister Manuel Quevedo said state-owned producer PDVSA and its partners pumped 1.5Mb/d from local fields in the first half of 2018, halting a three-year freefall that wiped more than 1Mb/d off daily output.
Petrobras receives more than R$ 1 billion recovered by Operation Car Wash
But the prospects for the acquired company, now called Mosaic Fertilizantes, are positive, as the teams in Brazil are well ahead of schedule to achieve US$100mn in net savings this year, and US$275mn by the end of 2020, CEO Joc O'Rourke told a conference call.
The Venezuelan president has accused outgoing Colombian leader Juan Manuel Santos of involvement in an alleged assassination attempt against him.
Petrobras posts profit in the first half and reduces its debt
Rodrigo Baptista, business unit director at Quintiq for Latin America, talked to BNamericas about the technology trends in the oil and gas industry.
The Brazilian conglomerate plans to pay off some US$800mn in debt over 22 years.
Pumping capacity of Peru's principal oil transport system has fallen due to heavier crude output.
OAS will appeal the ruling and is negotiating a leniency agreement with authorities.