The multilateral cited planned production cuts by OPEC and a general tightening of global crude supply as influencing the revision.
BNamericas looks at recent upstream developments from the Vaca Muerta shale formation in Argentina's Neuquén basin.
The agreement was signed by Brazilian President Michel Temer and Japan's Prime Minister Shinzo Abe.
Drones can collect 600% more information and 80% faster than specialized terrain recognition teams, according to Colombian aerial robotics company Anka.
José de Sá, a partner at consultancy firm Bain & Company, tells BNamericas that new opportunities are opening up for small and mid-size oil companies.
José de Sá, a partner at consultancy firm Bain & Company, speaks to BNamericas about legislation that lifts restrictions on foreign firms in one of the world's most important new oil and gas frontiers.
The region saw its first sequential rig count increase in seven quarters during Q3, which should bode well for Latin America and the rest of the world in 2017, CEO Dave Lesar said.
The lower house has voted in favor of approved changes that make deductions more flexible, guaranteeing greater revenues for the state from E&P contracts with third parties.
Mexico's state oil firm will seek partners for E&P in two shallow water fields in the Gulf of Mexico.
The plan includes replacing "megafields" with new projects and diversifying the geographical production footprint.