The region's week in 10 stories

Latest numbers from Peru reveal the impact the oil price plunge has had on the country's upstream hydrocarbons sector, with investment hitting a four-year low in 2016.

Exploration and production investment last year reached US$55.9mn and US$296mn compared to US$317mn and US$438mn, respectively, in 2015 and US$947mn and US$933mn in 2012, according to figures from hydrocarbons licensing authority Perupetro.

BNamericas' Oil & Gas Survey 2017 also highlights Peru's community relations challenge which would help explain in part the country's low sector attractiveness. Read more here

In other oil and gas sector news this week:

BRAZIL

Oil and gas companies bidding for contracts in Brazil's fourth licensing round for marginal fields will be exempt from strict local content rules, industry regulator ANP said on Thursday.

Meanwhile Brazil's state-run oil company Petrobras has announced it will appeal a court decision to suspend a tender for its Libra field pilot production platform.

And Brazil could stage two pre-salt oil auctions this year as it seeks to capitalize on renewed market optimism, according to the mining and energy ministry.

CHILE

Chilean national oil company Enap filed an environmental impact assessment with authorities in southernmost Magallanes region (XII) for a US$155mn E&P project.

ARGENTINA

A majority of oil producers and refiners in Argentina have reached an agreement to allow the local Medanito crude benchmark to converge with Brent in 2017, according to independent driller Madalena Energy.

Meanwhile Argentine national oil company YPF acquired a 50% stake in Petrofaro from Chile's Enap for US$5.36mn.

BOLIVIA

Bolivia's state hydrocarbons company YPFB and unit YPFB Chaco signed 40-year E&P service contracts for areas Aguaragüe Centro and Itacaray.

REGIONAL

Mexico, Cuba and the US have signed a series of agreements to delimit the so-called eastern polygon, or donut hole, where their maritime boundaries overlap in the Gulf of Mexico, allowing for exploration of hydrocarbon reserves.

And Latin America looks set to benefit from new LNG terminals and export facilities planned for Texas, taking advantage of new gas finds in the state that surpassed 90Tf3 last year.