LatAmOil - Latin America Oil & Gas
Italy’s Eni has secured US authorisation for the unloading of heavy crude oil from the Nabarima, a floating storage and off-loading (FSO) vessel moored in the Gulf of Paria between Venezuela and Trinidad and Tobago.
UK-based BP has reportedly threatened to terminate its crude oil supply agreement with Limetree Bay Ventures, a company formed by EIG Global Energy Partners and ArcLight Capital Partners of the US.
Mexico’s national oil company (NOC) Pemex is moving forward with work on the Dos Bocas refinery project, which is now 24% complete.
Argentina’s national oil company (NOC) YPF has reportedly agreed to pay Belgium’s Exmar $150mn in compensation for the early termination of a charter agreement for the Tango floating LNG (FLNG) vessel.
Peru’s state-run oil company Petroperú has launched bidding for service contracts as part of the long-delayed modernisation of the Talara refinery.
Mexico’s Energy Regulatory Commission (CRE) is reportedly moving to restrict private investment in the country’s energy sector, in an attempt to protect state-owned oil and utility companies.
Netherlands-based KOTUG International has been awarded a long-term contract to provide offshore terminal towage support for operations in Guyana.
Brazil’s Raizen is to invest $715mn over the next three years in the modernisation and expansion of its Dock Sud refinery in Argentina.
Argentina’s President Alberto Fernández has unveiled a much-anticipated stimulus plan for the natural gas sector, which has seen production levels sink since the advent of the coronavirus (COVID-19) pandemic.
Certain developments in recent days illustrate the scale of ongoing challenges for the oil and gas industry, but various players are forging ahead undeterred.