LatAmOil - Latin America Oil & Gas
Paraguay plans gas pipeline to transport Vaca Muerta gas to Brazil
Paraguayan officials have held discussions with representatives from Techint, Tecpetrol, and Pluspetrol to explore the construction of a gas pipeline originating from the Neuquén basin. The proposed project entails a 1050-kilometre route.
Colombian regulator eases oversight on PDVSA local subsidiary
Colombia’s Superintendencia de Sociedades, a government regulator, has lifted PDVSA Gas Sucursal Colombia – a local subsidiary of the Venezuelan state-owned oil company – from the highest tier of supervision, termed “control”.
ExxonMobil surpasses Tesla market value due to Guyanese oil development
American oil industry ExxonMobil Corporation has surpassed electric vehicle pioneer Tesla Inc. in market value for the first time in over a year.
China eyes discounted Venezuelan crude as India retreats amid renewed US sanctions
China is poised to see a surge in Venezuelan crude imports as India reevaluates its purchases following the reinstatement of US sanctions on Venezuela's oil and gas sector, according to industry sources.
Oilfield services giant SLB reports robust Q1 2024 results, plans $7bn shareholder return
Oilfield services giant SLB has unveiled its first-quarter 2024 results, reporting robust revenue growth and outlining strategic initiatives to return $7bn to shareholders over the next two years.
Venezuela and Vietnam forge strategic agreements for industrial and economic development
Venezuelan President Nicolás Maduro and Vietnamese Deputy Prime Minister Tran Luu Quang have inked a series of significant agreements aimed at advancing industrial, oil, and food development between their respective nations.
IMF raises Guyana GDP growth forecast amid burgeoning oil industry
The April 2024 World Economic Outlook report by the International Monetary Fund has singled out Guyana as the only Western Hemisphere nation poised for double-digit gross domestic product growth this year.
ExxonMobil Guyana on lookout for maintenance contractors for Gas-to-Energy project
ExxonMobil Guyana released a Request for Information searching for contractors to maintain a 25km onshore pipeline in its Gas-to-Energy project.
Bolivia's YPFB revitalises wells in Tarija, aims to boost hydrocarbon reserves
Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), Bolivia's state-owned oil company, has been engaged in efforts to revitalise four wells located in Tarija's Ibibobo, Huayco, and Algarrobilla fields.
Petrobras leadership woes recede, dividend policy pleases all parties
Brazil’s Petrobras starts the week of its annual general meeting in calmer waters after the suspension of the NOC’s chairman last week was cancelled soon after by a higher court. Moreover, the company’s board finally approved its dividend policy.
Talos awards Subsea 7 contract for Sunspear development in Gulf of Mexico
Subsea 7 has secured a significant contract from Talos Energy for the Sunspear development in Green Canyon Block 78, located in the Mexican Gulf of Mexico, estimated to value between $50mn to $150mn.
Petrobras shuts Recap refinery for scheduled maintenance, mulls nearly 40 vessels contracts
Brazil’s national oil company (NOC) Petrobras has shut down its Refinaria de Capuava (Recap) in Mauá, state of Sao Paulo, for a four-week planned maintenance.
Canacol Energy finds gas reserves with Colombia's Chontaduro-1 exploration well
Canacol Energy has announced a significant gas discovery at the Chontaduro-1 exploration well, located on the 100% operated VIM21 exploration and production contract.
Mexican billionaire Carlos Slim takes over Lakach gas field from Pemex
Grupo Carso, owned by Mexican tycoon Carlos Slim, has taken control of the Lakach natural gas field in the Gulf of Mexico, displacing the national oil company (NOC) Pemex after it and New Fortres Energy joint venture to run the field fell through.
Ecuador declares new state of emergency amid energy crisis
Ecuador's President Daniel Noboa issued a decree on April 19 announcing a state of emergency in response to what he described as serious internal commotion and public calamity in the crime-ridden South American nation.
Venezuelan petroleum coke exports remain robust despite sanctions return
Venezuelan petroleum coke exports showed resilience in March despite anticipatory slowdowns ahead of the US's decision to reimpose sanctions on Venezuelan crude and oil products, with most cargoes heading for India, China and Turkey.
Oil shipments from Argentina’s Vaca Muerta to Chile surge 30%
Oil shipments from Vaca Muerta to ENAP facilities in Chile have surged by 30% since the inauguration of the Trans-Andean Pipeline in May 2023.
Venezuela seals deal with A&B Investments to manage seized ConocoPhillips assets
Venezuela is swiftly advancing negotiations with A&B Investments, a lesser-known entity, to oversee critical fields and infrastructure previously under ConocoPhillips' purview, as the deadline for US sanctions reinstatement has elapsed.
Deadline set for Citgo's US refining asset bids
Potential buyers vying for Citgo's US refining assets must submit offers by June 11 for the company's 805,000 barrel per day refining capacity and associated assets, with a tentative sale hearing slated for July 15.
Argentina's Vista Energy reports 2% rise in fourth-quarter sales income
Vista Energy reported a 19% decline in year-on-year sales income, totalling $309mn in Q4 2023, with a modest 2% increase from the previous quarter.
Pemex’s CEO defends company against "bad faith critics"
Mexico’s national oil company (NOC) Pemex is facing increasing scrutiny from rating agencies and investors due to its substantial debt burden, which stands at nearly $106bn.
Brazil's LNG competitiveness tightens as prices converge with Europe and the Mediterranean
The competitive landscape for liquefied natural gas (LNG) in Brazil is undergoing a shift as prices align more closely with those in Europe and the Mediterranean, despite an anticipated surge in imports this month.
Venezuela's Oil block encounters US sanctions barrier, Indonesia's dilemma unfolds
Tutuka Ariadji, the Director General of Oil and Gas at Indonesia's Ministry of Energy and Mineral Resources, has revealed that Venezuela has presented Indonesia with enticing prospects for oil blocks
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