Region: Latin America Category: Oil & Gas Frequency: Every Tuesday
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LatAmOil provides oil and gas Insight and Foresight from Mexico and Central America to the Caribbean and South America. From the heavyweight producers such as Brazil to emerging frontiers like Guyana, LatAmOil informs you of what is going on and why through commentary, exclsuive interviews, news and analysis. In such a notoriously challenging environment, in-depth and accurate information makes every difference in vital decision making and strategy – LatAmOil brings this directly to your inbox every week.
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Venezuelans grapple with the paradox of inflation despite stable rates
Venezuela is facing the paradox of inflationary stability coupled with dwindling purchasing power, as citizens struggle to afford basic food items despite a relatively stable inflation rate.
Argentina's PCR discovers oil in Southwest Ecuador, plans extended testing
Argentina's Petrochemical Comodoro Rivadavia SA, operating via its subsidiary PCR Ecuador, has uncovered oil reserves in the 90-Sahino petroleum block located in southwest Ecuador.
Venezuela's oil exports to US surge amid sanctions limbo
Fresh data from the United States Energy Information Administration has unveiled a remarkable uptick in Venezuela's oil exports to the US, surging to an average of 142,000 bpd in February ahead of last month's reimposition of sanctions.
US grants licence to Maurel & Prom, allowing Venezuela operations despite sanctions
The French oil company Maurel & Prom secured a pivotal victory as the United States issued an ad-hoc licence permitting its continued operations within Venezuela, despite the recent reimposition of US sanctions on the country’s crude exports.
Argentine provincial governments agree to expansion of Andean gas pipeline
On Friday, May 3, the Argentine National Energy Secretariat and the governments of the provinces of Neuquén, Río Negro, and Chubut signed a framework agreement for the expansion of the Andean gas pipeline.
Touchstone Exploration moves to acquire Trinity Exploration and Production
Canadian oil and gas firm Touchstone Exploration is moving to acquire all ordinary share capital in Trinity Exploration and Production; a company with all of its onshore and offshore assets based in Trinidad and Tobago
India's Reliance Industries likely seeks authorisation from US to import Venezuelan crude
India’s Reliance Industries is likely once again seeking a licence from the US authorities to conduct business with Venezuela
Guyana government advisor asserts $10bn in investments needed to advance oil and gas industry
Chairman of the Wales Development Authority and advisor to the government of Guyana, Asgar Ally, claimed that Guyana will need at least $10bn in investments to unlock the full potential of its oil and gas industry.
Mexico's pursuit of refining independence shows progress
Mexico's six-year push to bolster refinery output and reduce reliance on US oil imports is yielding results, yet its sustainability remains uncertain.
ExxonMobil to optimise Liza 2 and Payara production offshore Guyana
ExxonMobil Guyana President Alistair Routledge outlined strategic measures to boost production efficiency at two vital projects within the Stabroek Block - Liza 2 and Payara - through debottlenecking initiatives.
Brazil’s Embraer counters report of new jet, denies major capex plan
Brazil's Embraer has denied a report on The Wall Street Journal stating the company was exploring options for a narrowbody jet to break out of its regional niche and "compete head-on" with the best-selling Boeing 737 MAX and Airbus A320neo families.
Brazil must ramp up efforts to increase natgas supplies, says minister
Brazil’s Minister of Mines and Energy, Alexandre Silveira, has said the country’s national oil company Petrobras must ramp up efforts in augmenting natural gas supplies and reducing prices to aid the nation’s industrial resurgence.
Petrobras delivers first gas production from Santos Basin FPSO
Brazil’s national oil company Petrobras has initiated gas production through the P-68 platform, servicing the Berbigão and Sururu fields in the Santos Basin offshore Brazil.
BW Energy finalises acquisition of FPSO for Brazilian field deployment
Norwegian FPSO operator BW Offshore has successfully concluded the sale of a floating production, storage, and offloading (FPSO) vessel to BW Energy.
MODEC and JGC Corporation complete GHG emissions assessment for FPSOs in Brazil
MODEC and JGC Corporation have concluded a pioneering project aimed at measuring and quantifying emissions of methane and other greenhouse gases from floating production storage and offloading vessels off the coast of Brazil.
Brazil’s Tupi field marks 15 years of operations after 2.6bn barrels in output
In the pre-salt Santos Basin, the Tupi field has marked 15th year of operation after having produced 2.6bn barrels of oil equivalent and currently operating with seven units.
Norway’s DOF secures $192mn in Petrobras contracts for offshore vessels
Norwegian offshore vessel operator DOF Group has clinched two contracts with Brazil's national oil company Petrobras for over $192mn.
Venezuelan oil exports plunge as US sanctions start to bite
Venezuela's oil exports took a sharp nosedive in April, plummeting by 38% as tanker owners and customers swiftly withdrew vessels awaiting loading from the country's waters, anticipating the reimposition of US sanctions, which took place on April 17.
Bolivia's YPFB certifies 2022 and 2023 gas reserves, plans publication
Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) has completed certifications for the 2022 and 2023 gas reserves. Currently, the state oil company is cross-referencing data from various sources to ensure accuracy before making the findings public
ExxonMobil confirms capping stack on route to Guyana
ExxonMobil Guyana is gearing up for the imminent arrival of a capping stack, a critical piece of equipment mandated by the government as a safety measure in the event of a major oil spill.
ExxonMobil Guyana reveals dates of output halt due to Gas-to-Energy project
ExxonMobil has announced the timeframe for the temporary halt of production at two offshore oil projects in Guyana’s Stabroek Block as part of efforts to connect a natural gas pipeline for the landmark Gas-to-Energy project.
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